Australian contract law Research Paper Example | Topics and Well Written Essays - 1500 words

Australian contract law - Research Paper Example Subsequently however, Big Oil Ltd transferred its ownership to an associated company, Best Oil Ltd, in which it has 40% interest and the Portland Council reacted by withdrawing the 50% concession earlier agreed. The issue here is whether or not the Council of Portland is bound by the agreement between Big Oil Ltd and the Victorian Government with respect to the prerogative of Big Oil Ltd to transfer its ownership to another company in which it has at least 40% interest. Under the law, only the parties to a contract have the right to enforce its terms and be conferred a right or be obligated under it.1 This is referred to as the principle of the privity of contracts, which was first established in Australia in the case of Tweedle v Atkinson.2 A strict application of this doctrine in the herein case would mean that Best Oil Ltd cannot enforce the 50% rating concession as against the Council considering that it was not a party to the contract between Big Oil Ltd and the Council of Portland. It is with respect to that contract only a third party. Nonetheless, the doctrine of privity is not a cut-and-dried rule the way recent cases have allowed exceptions to it. In Trident General Insurance Co Ltd v McNiece Bros Pty Ltd, 3 for example, the High Court allowed a third party in an insurance contract to claim against the insurer, but this is because a corresponding provision in the insurance law specifically grants this right.45 However, the privity doctrine is still enforced in the Australian legal jurisdiction and it is not clear under what particular exception Best Oil Co can invoke it. Best Oil’s argument is that it has a right to the 50% rating concession by reason of an implied term because of the stipulation under the contract with the Victorian Government allowing it to transfer its interest to a company in which it has at least 40% interest in. On the other hand, the Portland Council also invoked implied term in terminating

Prepare a consultants report for the Schwab Case Essay

Prepare a consultants report for the Schwab Case - Essay Example This report contains the strategic audit of Charles Schwab and Company. The Instruments used are SWOT analysis and SWOT matrix. Analysis of the company’s position has been undertaken. Different technology models have also been applied in order to undertake the analysis of the technology practices in the company. In the end suggestions and recommendations are presented in order to improve the competitive position of the Company. The strategy of a company requires constant updating. With the changing conditions of market and industry it is important for an organization to keep its strategy in tact with the changing environment. An out dated strategy cannot fulfil the needs of today’s global environment. In order to go through the updating process the organizations should carry on an audit to analyze which aspect requires improvement. It also specifies what strategy is necessary to support the business operations, the information people use currently and the gaps in these functions and the business goals. By assessing the knowledge possessed by an organization about its competitors and market environment the mangers can effectively take decisions in order to find the most feasible way for their businesses to maximize profits and improve market share. It is also important to calculate the extent to which change needs to be introduced to the organization. Although the identification of the problem is a big issue but the finding a solution making sense with business world is the main purpose of change in the organization. â€Å"Back in 1970 Alvin Toffler in Future Shock (Toffler, A. 1970) describes a trend towards accelerating rates of change. He illustrated how social and technological norms had shorter life spans with each generation, and he questioned societys ability to cope with the resulting turmoil and anxiety. In the volatile business environment of the 21st century the most important requirement of today’s