Unfair terms in standard form contracts have been illegal since 1 July 2010.Which of the following statements is not true in relation to the types of contracts that are protected?
A) There is no maximum dollar amount on the value of the contracts.For example,a standard form contract in which a consumer pays $1 million for goods must not include unfair terms.
B) A standard form contract for the purchase of a residential property for $15 million should be covered by the new law.
C) Standard from insurance contracts are excluded from (not covered by) the new law.
D) Standard form contracts for goods or services are covered by the new law if the purchase is wholly or predominantly for personal,domestic or household use or consumption.
Correct Answer:
Verified
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