Kevin Rudd is showing his Asian and anti-Western tenancies with the introduction of the new "contract law reforms" Basically it means that if a judge decides that a contract is in any way unfair (subjectively) then it can be declared void.
Contract work in a similar way in Asia but they form the basis of business in the Western World. The measure is to allow those having problems meeting their contracts to delay the process, perhaps with full government support just like in vilification cases and commissions.
The ramifications of such a process should send shock waves throughout the whole business community in Australia. This is of course a socialist measure that is designed to take power away from an individual or company. I wonder how this is going to affect future foreign investment let alone the local versions.
Consider what could be affected: home loans, construction, all infrastructure projects, hire purchase, car loans anything where the full payment is not made up front.
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