Australia is a parliamentary democracy country that consists of Parliament and States Governments. The legal system is a comprehensive term that used to confirm the existence of the law, it also explains the law-making process and how this is enforced to everyone. The Australian legal system regulates all organisations, governments and all people whether they are Australian born or migrated here and that they obey Australia’s regulations. The legal system here was developed from the United Kingdom’s legal system, as Australia was a colony of British. At a glance, the British government granted restricted rights to their colonies, including Australia to set local government system. This was intended to developed laws in local area, also to deal with specific situation at that time. Thus, the legal system in each of the colonies started to develop separately.
According to Carvan J (2010) the Australian law is adopted from several sources, including the common ...view middle of the document...
This means that laws is not arbitrary.
The application of laws in real world has become a hot debate whether the Australian’s legal system is based on justice and fairness. This is strongly related to the judge-made law.
Fairness is fundamental to the Australian legal system. It is essential for the Australian legal system to assert that fairness is equally provided to those who are pertinent with the legal system itself. An example of how fairness is a part of the financial service industry is a case between a commercial bank v Amadio. Commercial Bank v Amadio (1983) case study needs to be taken in to consideration. It is clear that fairness taken place in the court decision. The judges’ considerations in making the decision are including unconscionable conduct and misrepresentation. This is an example of providing fairness and justice to plaintiff.
Furthermore, justice also perceived as one of the most influential element in Australia’s legal system. Justice is a moral rightness and fair treatment that given to those who are legally right according to the law and regulations. Australia’s legal system has some key elements in terms of justice, including the presumption of innocence, fair jury trials, unbiased judges; and the provision of protection for witnesses if required. (Swirk, 2014)
Financial service industry is an industry that provides products and services, which encompasses a wide range of organizations that manage money and assist people in financial planning by complying with the Australian regulations. Financial services industry is highly regulated by ASIC and APRA. Even though financial services industry is supervised by these body regulators, the problem might still arises in this industry. Fairness and justice are taking place in order to overcome problems in financial services industry.
There are two ways in ensuring fairness and justice. First, fairness and justice is ensuring through court hearing. The problem that brought by plaintiff will be discussed in the courtroom and will be analysed by judges. The analysis will be developed in to a decision where the decision is taken based on the statue or precedent decision.
Another way to ensure fairness and justice in the system of law is through law of equity. Every person has equal rights under the law.