. Terms of a contract and remedies Daniel requires advice on how to identify and manage the commercial and legal risk associated with entering business agreements as he is unfamiliar with Australian contract law. You must advise Daniel how contract terms and remedies impact business arrangements. In Part C.1 of your report you must:

1. Evaluate the legal differences between the classification of a term of a contract as either a condition or a warranty. In your answer describe each type of term and identify the relevant legal remedies available for breaching that type of term. Your answer must be supported by common law of contract legal principles and cases. Do not discuss statute law.

2. Describe why consent is important to the commercial operation of a contract. Describe two examples when the common law deems a contract is unenforceable due to the absence of consent. Refer to cases in your examples.

3. There are multiple forms of dispute resolution for resolving commercial disputes. Identify and describe litigation and mediation. In your answer describe the feature of each type of dispute resolution. Then, evaluate the benefits and limitations of each method of dispute resolution.