This chapter examines the system for creation and enforcement of security interests over personal property. It considers the operation of the Personal Property Securities Act 2009 (Cth) (PPSA), examining: (1) the Act’s purpose and overall design; (2) the definition of security interests; (3) the kinds of security interests it governs; (4) what constitutes the taking of good security – including explanation of the concepts of attachment and perfection of interests; (5) the extinguishment rules; (6) the fate of certain proprietary interests, such as fixed and floating charges under the Act; and (7) the principles and rules of priority of interests as they operate under the Act. The chapter also examines how the Act approaches the recognition of a security interest as a matter of substance rather than form. Emerging PPSA law cases are referred to where appropriate.

This chapter examines the topic of bailments. It sets out the basic concept of a bailment and the required factors that must be in place for a bailment relationship to exist. The chapter then examines sub-bailments, the categories of bailment, the duties common to all bailments, and the relationship between bailment and other legal categories. The issues pertaining to bailments and the Personal Property Securities Act 2009 (Cth) are discussed in .

This chapter addresses the topic of personal property. It first addresses the fundamental notion of property. It then explores how the scope of personal property has become more expansive as novel challenges to existing notions of property have arisen over time. The chapter considers the important distinction between real property and personal property. Sub-classifications of personal property are considered, including the distinction between chattels real and personal, choses in action and choses in possession. The chapter explores various types of possession and interference with possession giving rise to actions for trespass, conversion and detinue. The chapter concludes with a discussion of how the nature of personal property rights can be lost through intermixture, accession or by becoming a fixture.

This chapter deals with the topic of the sale of goods. There are Sale of Goods Acts in each state and territory in Australia. All of these Acts are broadly the same in their terms and structure. They are all based on the UK Sale of Goods Act 1893. As such, UK court decisions are very relevant to the interpretation of Australian legislation. The sale of goods is regulated in Victoria by the Goods Act 1958 (Vic) (‘Goods Act’), and the chapter uses this Act as a model with which to explore the various issues pertaining to the sale of goods.

This chapter considers insurance as the formation of a contract of risk management between two parties: the insurer and the insured. It considers the governance of that relationship of insurance by the statutory regime contained in the Insurance Contracts Act 1984 (Cth), and relevant amendments under the Insurance Contracts Amendment Act 2013 (Cth). It addresses the formation and interpretation of the contract of insurance, and the duty of utmost good faith and disclosure, as they apply to both insureds and insurers. The construction of insurance contracts is examined by reference to the principles of interpretation applicable to commercial contracts broadly, and insurance contracts in particular. The chapter also addresses the types of breaches commonly encountered in insurance cases. Finally, it considers the remedies available to insureds and insurers for instances of misrepresentation, fraud, non-disclosure, and breach of policy terms.

This chapter engages with international aspects of commercial law. It provides a background introduction to private international law, and an overview of recent developments in major treaties on international trade. The recent US–China trade conflicts and Brexit are also referred to. The chapter then focuses on two specific topics in relation to international sales contracts. The first of these is the Australian rules of private international law in relation to contracts with a foreign element. The chapter examines the theory of private international law, the main treaties on international trade (including Brexit and the Australia–UK Free Trade Agreement), and the key principles for determining the proper law of contract under private international law. The second topic is the international sale of goods. The chapter focuses on the Convention on Contracts for the International Sale of Goods 1980 (CISG, or Vienna Convention), and the Incoterms of the International Chamber of Commerce (ICC).