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Essay text:
Ranaldi carelessly fails to exercise the option for renewal by the due date. He exercises the option 16 days after its expiration
? Samton now demands $70,000 for the lease extension
? Thus, in addition to having paid for the business from the lessees, the Ranaldis now have to pay an additional sum of $70,000 to Samton in order to renew the lease.
? The ACCC brings an action asserting unconscionable conduct on the part of the lessors in asking for the $70,000 as a price for renewal of the lease (which would normally have cost nothing had it been requested in time)
ISSUES
1. Did Samton engage in unconscionable conduct in contravention of s 51AA?
2...
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