Regional regulations on the fairness of commercial contracts between Australia and the United States, taking the PayPal case as an example

Abstract

The regulation of contract fairness has been one of the focuses of scholars from various countries in recent years. This may involve the composition of the contract, the legality of the contract and the disadvantageous situation of the weak party in one contract. This essay takes the possible unfair terms in Australia’s PayPal case as an example to discuss the nature of unfair terms, the necessity of ASIC intervention, regulatory measures, and related statutes in Australia. To analyse the regional regulation of this issue, the regulation of unfair terms in the United States is also discussed. By comparing the regulation methods of the two countries and analysing the impact of unfair term regulation on market fairness, some suggestions are given to Australia.