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I agree with the above.
Terms & Conditions are very important, as we all have different expectations when we buy a product. T&Cs set out exactly what you are responsible for, and what you aren’t, in terms of warranty, delivery, returns, etc. T&Cs must be in accord with Australian Consumer Law.

Privacy is also very important. People need to be assured that you will do everything you possibly can to protect their data and information. They need to know to whom you will release their data (eg police) and under which conditions (eg when a court requests it). And, as hackers are both naughty and tenacious, you need to advise clients of what you will do if/when the site is hacked (eg lock their accounts and have them set new pass phrases). A few insurance companies are selling cyber insurance that covers you for damages from being hacked.

All the best!