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Sample Solution of SITXMGT005 - Establish and conduct business relationships

Answer the questions below about legal requirements that impact negotiations and agreements in your industry.

A.     Negotiations

Complete the table below about legal requirements for negotiations.

  • Identify at least two legal requirements other than contract law, that must be considered during negotiations.

Indicate the name of the legislation the requirement is from.

  • In your own words, explain how each identified legal requirement impacts negotiations in your industry. Responses must be in 30 words or more.

 

 

B.     Agreements

Complete the table below about legal requirements for agreements.

  • Identify at least two legal requirements other than contract law, that must be considered while forming agreements.

Indicate the name of the legislation the requirement is from.

  • In your own words, explain how each identified legal requirement impacts agreements in your industry. Responses must be in 30 words or more.

 

  1. 1
  2. 2

Management Assignment Sample

Q1:

Answer :

A. 

Legal Requirement

Impact on Negotiations

Maintain confidentiality

 

From Privacy Act 1988 it is required to make sure that the parties involved in the negotiation must keep it private. Keeping sensitive information private ensures trust between parties. It avoids leaks that could harm reputations or competitive positions.

Keep clear of bribery

 

From the Criminal Code Act 1995, it is important to make sure that the parties keep clear of any illegal activity like bribery. Avoiding bribery keeps negotiations fair and ethical, protecting both parties from legal issues or unfair advantages.

Q1:

Answer :

B.

Legal Requirement

Impact on Agreements

Prohibition of misleading or deceptive conduct

 

From Australian Consumer Law makes sure that there is no misleading in the agreement. Prevents false claims or information in agreements, ensuring transparency and protecting trust and fairness for all involved.

Protection from unfair terms

 

From Australian Consumer Law agreement is protected from any unfair work from any party. Ensures all terms are balanced, stopping stronger parties from taking unfair advantage, and fostering equal rights for both sides.