Explain the original source of the law making powers in the Australian legal system and in doing so refer to the Doctrine of the Separation of Powers . Outline the difference between statute law and case law . Include in your answer two specific examples of how the law impacts on the conduct of business in Australia.
Discuss the meaning of this statement: "Even though all contracts are agreements, not all agreements are contracts." In your answer, outline the elements of a legally binding contract. Identify and briefly describe the different types of terms that may exist in a written contract.