Question
Ali is a recent university business graduate. Although Ali was born and raised in Australia, his parents were not. Ali's parents are from a non-English
Ali is a recent university business graduate. Although Ali was born and raised in
Australia, his parents were not. Ali's parents are from a non-English speaking
background, had minimal education in their country of origin, and speak very little
English. Ali has recently developed a new business app, which he wants to
develop and sell across Australia and overseas. In order to be able to Ali
requires funds. He has been approved for a business loan with the Acme Bank
Ltd (the bank). However, Acme have provided Ali with a personal guarantee
document, which they require Ali to arrange for his parents' signature and return
to the bank. The bank requires this, as Ali does not have sufficient assets of value
for his loan.
Required: Discuss any relevant genuine consent factor/s under contract law that
may be applicable to the above scenario. (Note: you are not required to refer to
any consumer protection law issues; you are to refer only to case law principles
under contract law).
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