LAW8500 - Australian Commercial And Corporations Law - Law Assessment Answer

Assessment Details:

Question 1
Problem scenario

Fine Diamond Jewellery entered into a standard service agreement with Transglobal Alarm Monitoring Pty Ltd to provide security and alarm monitoring services for 3 years. From April 2018 until April 2019, the alarm and monitoring system was working fine and there was no incident of any security nature. On May 2019, the owner of Fine Diamond Jewellery went as usual to open his business and noticed that the alarm and monitoring system was not working properly. He later found that many pieces of diamond Jewellery were missing and stolen from the shop. Unfortunately, Fine Diamond Jewellery had an insurance policy to cover stolen items, but it was recently expired at the time of the robbery.
The owner immediately contacted Transglobal Alarm Monitoring Pty Ltd and wrote formally to the business demanding compensation for the failure of the alarming and monitoring system that resulted in the robbery. The manager replied back and advised that Transglobal Alarm Monitoring Pvt Ltd is not prepared to pay any compensation relying on the standard alarm agreement signed between the parties and particularly clause 10 that states the following:
10. Transglobal Alarm Monitoring Pty Ltd and its employees will not under any circumstances be liable or responsible for any damage or loss that may be caused as a result of using the alarming and monitoring security system.
The owner of Fine Diamond Jewellery wants to take legal action against Transglobal Alarm Monitoring Pvt Ltd and you have been appointed to advise him on his chances of success. 

Assessment tasks
1. Please identify the legal issue(s) raised in the question and briefly state the law relating to each issue
2. Apply the law specific to the facts of the question and advise Fine Diamond Jewellery on their chances of success in receiving compensation for the losses resulting from the failure of the alarming and monitoring system provided by Transglobal Alarm Monitoring Pvt Ltd.
3. Discuss whether the question, particularly in relation to any of the legal issues or factual circumstances raised, created the possibility of alternative arguments. Critically assess one alternative position and briefly explain why this might arise. You only need to address one situation here. If you are of the view there are no situations of that type arising, then explain why you feel that again by critically assessing your position on this.

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