Your answers should make reference to cases and statutory provisions where relevant.

1. It is said that rescission is an equitable and discretionary remedy. Explain what this means and discuss circumstances under which rescission may be lost.

2. What is the ratio decidendi of a case? Briefly explain the ratio decidendi of Hochster v De La Tour (1853) 118 ER 922.

3. A judge in the Supreme Court of Victoria is required to follow a precedent established by a judge in the High Court of Australia. Explain why the hierarchy of the various court systems is an integral part of the doctrine of precedent.

4. When Danielle initially inspected a property in Rye, she was impressed by the contemporary furniture inside the cafe; the in-built air-conditioning throughout the cafe; the large refrigerated room at the rear of the cafe; the polished timber floorboards; and the strawberry bushes outside near the entrance. When she again inspects the property on the morning of the day of settlement, she discovers that all of these items have been removed by the seller. Can Danielle insist that any of these items be included in the sale? Refer to property law when answering this question