What has been the effect of the passing of the ACL on contracts involving consumer goods? Which of the following is correct?

The ACL gives the sellers of goods the option of using terms contained in statute, but also allows vendors to exclude liability if they choose to do soThe ACL replaces much of common law and implies particular rights into consumer contracts concerning quality, fitness for purpose and description of goods, thereby allowing consumers various rights for inappropriate goodsThe ACL replaces all state law concerning consumer sales, and consumer law now requires all consumer contracts to be in writing if the consumer is to claim the rights set out in the ACLThe ACL has introduced various rights for consumers, but many of these rights can be excluded where the vendor can show that a business bought the goods rather than an ordinary consumer