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R/601/1145 Unit 26 Business Law Unit Level 5

748 Downloads1 I Published: 07 Feb ,2020

Introduction

Business law refers to legal process in which including legal rules and regulations those are made or regulated by the government of country. In which have to follow all rules and regulation by the all parties. When two parties want to make legal agreement so have to do all woks under the law or legal term also with written agreement with legal stamp on the papers. To control the illegal activities in the country by the government make some effective legal systems those follow by the all persons. In this report mention or including sales of goods Act 1979, competition Act 1998 and law of agency(Abdi and Aulakh, 2012). All these are relating to the business field related laws. According to the competition Act 1998 , as per this act government wants to develop economy and standard of the living of the persons and increase effective competition in the market. In this act identify the legal rules and restriction in the competition market and they are abuse the dominate market situation. This act help to provide better and effective services and goods to consumers and control on production in the business and try to develop technology in the effective process(Appleman, Appleman and Holmes 2015).

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Task 1

1.1 Implied terms relating to the sale of goods and supply of services

Sales of goods to one party to another party in which having some rules and regulations those have to follow by the both parties. In the sales agreement including seller and buyer those are make a legal agreement under the law through the both parties have to stamping on the written papers and signed by the both parties if they are not legally attach so that agreement will be illegal. According to the sale of goods Act 1979, as per this act have to follow rules those are regulated and control by the government of the country. In this act for the both parties having some restriction like by the seller should provide better quality of products on the basis of agreement and for the buyer having also some restriction like full payment on the decided time period to the seller. In this case Ben is the buyer, he want to purchase a second hand car from the dealer in UK in which dealer said about a car that only driven 18,500 miles by only one person. Both parties are agree about this agreement. They are make legal and written papers in which stamping and signature by the both parties. After that Ben were purchase the car and pay according to the agreement amount is 150 dollar to dealer. When buyer will go for a long drive with their family member that time he will fell their car's engine is not working properly their having some technical issues. In this situation Ben go to dealer to refund the payment of car so dealer will not payback to him because legally through the buyer and seller signature on the legal paper. So Ben's does not having this right to after purchasing that will take refund amount from the dealer(Bisharaand, Westermann‐Behaylo 2012).

1.2 Ben on the statutory provisions on the transfer of property and possession

By the government there are regulated some effective legal rules and regulations those are have to follow by all the parties while transfer of property and possession. As per this case or situation some provision are including under the section 18 to 25 those are under the below:

  • Goods and services should determined: In this provision by the seller should provide better and effective quality of products and goods to the buyer. Its illegal when both parties are not legally follow rule and regulation those are framed by the government. By the seller should try to provide better satisfaction to the buyer and if they have any issues and problems regarding products and services so have to resolve them effective and systematic manner(Bishara, 2011).
  • Intension: In the legal agreement including mainly two parties one is seller and second one is buyer. So in which have intention b y the both parties. In this case Ben wants to buy a car that is ready to give payment of 150 dollar to dealer. So after purchasing the car by the seller Ben have not any legal right to get refund amount from the dealer.
  • Specific product: when made legal agreement between seller and buyer to sell a product to the buyer so that should provide clearly informations relating to the products that help to easy to transfer goods and products one party and another party. In this case Ben wants to purchase a car from the dealer so should provide proper information by the dealer related to the product to Ben.

1.3 Statutory provisions on buyer’s and seller’s remedies in sale of goods contracts

In the sale of goods Act 1979, various kind remedies are including those are help to provided better product quality and able to provide safety to parties rights and duties in the effective way. By these Act's of remedies provide legal protection to the both parties. According to the legal advisor citizen Advise Bureaux there are various kind of remedies are under the below:

Seller's Remedy

  • Non payment of Amount: According the Sale of Goods Act 1979, there having some legal rules and regulations those are have to follow by both parties. If seller deliver product and goods to buyer so through the buyer have to pay amount of the product that were decided by the both parties mutually. In which buyer will not pay decided amount to the seller so seller is legally able to sue the case against buyer. For example: A is the seller and B is the buyer. Seller is already delivered the product to buyer according to the legal agreement but B is not pay the amount of the product to seller so in this situation A is legally able to sue case against B(Crane and Matten, 2016.).
  • Refused to accept: Refused the accept refers to when by the both parties make a legal agreement so buyer is agree to purchase product through the seller but at the end moment buyer said no, that does not want to purchase and refused to accepted in this situation seller have right to sue the case on buyer. For Example: A person is the seller and C persons is the buyer. C were placed the order to purchase the product from the A but B is at the last moment is refused to accept in this case A is able to sue against C.

Buyer's remedies

  • Delay in deliver: When two parties are become in the contractual agreement so both parties through mutually made a legal contract in which having some rules and regulation for both parties. When buyer want to purchase a product from the seller and seller will delay to deliver product to the buyer so in this situation buyer is able to sue the case against seller. For example: A is the seller and B is the buyer so B wants to purchase a product from the A. if A is delaying to deliver product to the B so in this situation B is legally able to sue the case against A.
  • Non delivery of goods: When make legal agreement between two parties so in which including seller and buyer. If through seller not delver product to the buyer so in this situation buyer is fight the case against the seller(DiMatteo, 2010).

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1.4 Legal rules and statutory provisions for faulty goods in case

In the legal term by the government of the country regulated and framed some effective rules and regulation relating to the all sectors. According to the consumer protection Act 1987, as per this legal act through provide safety and security to consumer and through the company should provide better quality of products and goods to the consumers. If by the company is not provide effective quality of products so consumers are able to sue case to the company and mutually manufactures are responsible. Government of the company want top provide proper safety and security to the consumers. If consumer want to sue case against the seller than have to clarify information relating to the products those are under the below:

  • Product or good quality that is not full fill the consumers need and wants.
  • Provide by the seller damaged product to the buyer
  • Unexpected features, quality and extra charges of products(Folsom and et. al. 2012).

As per this case seller and buyer is legally made a legal contract or agreement under the mutually rights and duties. In this case Ben is the buyer that want to purchase a car from the dealer. By the dealer provide proper information relating to the car to the buyer and made legal agreement between them. After that Ben pay the decided amount to the seller that is 150 dollar after the purchasing the car Ben go for long drive with their family members then Ben feel car's engine having some problems that is not properly working so Ben want to refund amount that were paid to the dealer. In this situation buyer is not legally able to sue the case against seller. Because they signed a legal agreement under the agreed rules and duties. Under the section 9 before purchasing the any kind of products to the seller or party so should properly checked by the buyer after purchasing seller is not responsible for any issues and problems elating to the product.

Task 2

2.1 Differentiate between types of credit agreements

Credit agreements help to provide protection and safety to their consumers in the effective manner. There are many kind of credit agencies in which including different rules and regulations according to their companies. Credit agencies are help to provide satiety and securities to the consumers(Foss and Knudsen 2013).

  • Hire purchases: Hire purchases is the credit agency in which make legal agreement between two parties. In which seller want to sale property to the buyer and buyer want to purchase but in the instalment system to payment amount of the money to the seller for decide time period. In which buyer on the decided date pay instalments of the property to few yearly to the seller. When buyer completely pay that time buyer become is the legally owner of the property. And seller through legally transfer all the paler to the buyer.
  • Conditional sales: This type of agreements in which buyer have right to sale property and products from the seller to the another party under the legal terms and foll wed by the rules and regulations.

2.2 Legal rules on termination rights and default notices

In the legal term Termination of rights means when rights become on the end. In which including many kind of situation for Ben those are following:

  • Different type of situation may be rise when by the seller or Ben through terminate their rights at the decided date of the agreement.
  • Contract were made between seller and debtors in which seller is liable to sell products and goods to the buyer and buyer is liable to pay amount of the product. If in case buyer will not pay the decided amount to the seller so seller have right to get back products by the buyer in this buyers rights are terminated(Haselmann, Pistor and Vig 2010.).
  • The debtors or Ben is legally liable to pay decided amount the seller. In case that will not pay so seller have right to sue the case against buyer.

Default notice: Default notice is refers to when agreement make between two parties in which also including third party as an nominee. Default notice is send to the third party when buyer is not pay the amount of the property to the seller in this case third party is legally liable to pay amount to the seller.

If breach or refused the legal agreements and creditors will send the legal notice so : Agreements are created between two parties so in which bothy parties are legally follow the rules and regulations those are made b y the government of the country. If by the both parties refused their rights and duties so in this situation various condition and terms will be created.

2.3 Features of agency and types of agents

Agencies are help to make a legal contract with proper protection to the consumers. Any kind of agreements including mainly two parties, by these have to sighed on the legal agreement paper and stamping also. In which both parties having some rights and duties those have to follow by the both parties. In which mainly including agent and principals. Agent is working on the behalf on their principals. There are many features of the agencies those are under the below:

  • Parties: Parties refers to when make the agreement or contract so in which inducing mainly two principals that called parties. Without parties not make any agreements. Both parties are play and vital role to develop agreement in the effective manner.
  • Written agreement: Written agreement refers to all information relating to the agreement should mention in the written form if agreement is not in written forma so that will be not valid(Kitagawa 2016).
  • Legal agreement: Legal agreements means when contract under the legal term or legal rules and regulations so that become legal agreement.

 

Types of different agents those are as follows:

Executive agent: Executive agents are refers to these are directly help in the make effective planning process to develop a effective agreement between two parties. In which they are help to take effective decision by the principals.

Collaborative agent: These kind of agents are help to contribute effective valuable decision in the important stage. In which both parties for its help full to provide better solution and suggestion regarding agreement.

Communication agent: Communicationagents are responsible to communicate with both parties and provide proper information relating to the agreements. Its help to develop communication between both parties and help to transfer information to them.

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2.4 Evaluate the rights and duties of an agent

Agents are the responsible persons who follow rules and regurgitation and works according to principals. They are responsible to provide all kind of informations to both parties in the agreements and working on the basis on agreements principals. They are secret profits by the parties. They have some duties those have to full fill according to the agreement. Agents having some duties and rights those are under the below:

Rights of Agent

  • Right to get remuneration from the both parties in the agreements in the legal term on the basis of their working performance.
  • They have to to reduce amount of the agreement those are spend by the agreement parties.
  • They have right to sue against the patties if they refused the rules and regulations.

Duties of agents

  • Agents are legal liable to provide actual and proper informations regarding agreement to the both parties if they having any issues so have to resolve them.
  • They have liable to maintain all record and information in the written form regarding all kid of agreements
  • They are legally liable to follow all kind of rules and regulation those are regulated by the government of the country(Latimer, 2012).
  • Agents have to use skills and capabilities to handle both parties effectively manner.
  • They have to do all works with honesty and faithfully manner that help to develop trust on them by the parties.

Task 3

3.1 Monopolies and anti-competitive practice legislation in the UK

Competition in the market having many companies to beat each other and set a brand image in the market. According to the competition Act 1999, as per this competition in the market should healthy for all companies and for their consumers. That's why by the government of UK regulate some rules and regulations those are have to follow by the all companies in the effective manner(Li and Freeman 2015). By the government of the country there are imposed some legal rules and regulation those are help to manage and control on harmful competition in the market. Sometimes companies are increase the price of products and goods for consumers to beat other their competitors so its harmful for their consumers because all consumers are not equally able to purchase products effectively that's why by the government imposed some restricted rules and regulations. For example: Lloyd's Banking Group to acquire MBNA Ltd, in which Lloyd's banking group provide financial services to consumers and MBNA Ltd provide credit card facilities and services to them. So by the Lloyd's Banking Group acquire the MBNA Ltd is from the bank of Africa. Both companies are provide baking and credit cards facilities to their consumers. Both are try to beat their competitors in the UK market and set a monopoly in the market. That's why government through imposed some rules and regulations to the competitions those are have to follow by the both parties. Monopoly means set a brand image in the market and there is not having any competition because by the only one company provide specify products.

3.2 Role of the competition commission

Competition commissions is public body of UK in which regulated some rules and regulations by the government. Competition commission through regulate and identify merger, acquisitions and joint venture in the market by the different companies. Under the Competition Act 1999, in this act competition in the market with company should manage and control. That should not harmful for their consumers in the market. All these rules have to follow by the all companies(Lumineau and Malhotra 2011). Anti competition refers to make unfair competition in the market like price fixing and when market will not working well for their consumers in the effective manner. Competition commission's of having some roles those are under the below:

  • To proper legally inquire of merger , acquisitions in the market by the companies.
  • To regulated and controlled all market industries in the effective manner and develop healthy competition in the market.
  • Provide proper information to shareholder regarding their market shares.
  • Provide information to the shareholder relating to merger and acquisitions when two companies are joint and working together.

For example: Lloyd's Banking Group to acquire MBNA Ltd is the acquiring company. Lloyd's banking group through provide financial services and facilities to the consumers and MBNA group through provide credit card services so both parties are develop their scale of profits and build a healthy competition in the market. In this case competition commission through provide all information relating to both these companies to their shareholder and and develop healthy and effective competition in the market.

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3.3 Dominant positions within the EU common market

In the market when develop unfair competition so in this situation companies performance are impacting on the market in the negative manner. In which EU help to manage and control of all activities. The dominating positions means by the one company or firm develop unfair environment of competition impacting on market performance. EU help to control on the market that want to develop a health and fair competition for consumers so they can feel safe and secure. For example: Lloyd's Banking Group to acquire MBNA Ltd, Lloyd's banking group is provide financial services to consumers and MBNA Ltd is the credit card company. Through this acquisitions both companies want to provide better financial services to the consumers. If this acquiring companies of performance impacting on the market and create completely unfair for the consumers(Mann and Roberts, 2011).

3.4 Exemption made to potential anti-competitive practices

Exemption transfer to provide freely services and goods to consumer in the effective manner. To mange the anti competition in the market so by the government imposed some rules and regulation those are have to follow b the all companies and develop healthy competition in the market. By the competition commission inquire merger and acquisitions in the market by the companies by this manage an control on activities and made some restricted rules those are follow in the systematic manner. For example: Lloyd's banking group to acquire MBNA Ltd, both companies wants to develop profit level and provide credit card services as well as banking services. In which exemptions through consumers are freely use and remove anti competition the rough the market(Weber 2010).

Task 4

4.1 Identify and explain the different forms of intellectual property rights

Intellectual property rights refers to design and innovation in the any filed and develop a new thing on these assets company's having right to no other one company will use name, symbols and trademark. If by the company will use so that will become illegal. Intellectual properties are not physically exists in the market but they are actually exists in the market for their competitors. Intellectual properties are relating the new creative and innovative things of name, sign, tag line of products and so more all these are should copied by the other companies because intellectual properties on companies having rights. Intellectual properties having manily four examples those are under the below:

  • Trademarks: Trademark of the company help to differentiate to the other company's same products. On the basis of trade mark consumers are easy to identify product through the competitor market. Examples: Symbols, name, colours, that help to identify and differentiate products(Nichols, 2012).
  • Copyrights: Copyrights refers to create something new and innovative so by the company have right to no other companies are copy their products. Examples: software, computers, books, and graphics.
  • Patents: Patents refers to create new and innovative services and products so by the government granted for them and only that particular company will using, making in the business process. Examples: design patents, plant patent and device & machinery patent.
  • Trade secrets: Trade secrete are refers to conditional information related to the business like documents, formates and so more(Sprague and Wells 2010).

4.2 Principles relating to the protection of inventions through patent rights and legal rules

Patent right means monopoly in the market relating to the particular product and goods those are develop by the new and innovative ideas. In which they have legally right to no any one company will copy their products and does not use their name, symbols and so more. By the government of the country regulate some rules and regulations relating to the patent of products. By these rules and regulation provide security for their rights and their products in the competition market(Passera and Haapio, 2011).

  • The patent of the new and innovative products and services that should not be related to the previous intervention.
  • Patent right should relating to the company or firm products and assets.
  • When patent products are copied by the other company so that company will legally able to sue against that company and receive compensation amount.

4.3 Principles relating to copyright protection

Copyrights refers to legal have right on the new and innovative products as like patent. In which including some effective rules and regulations those have to follow. In which make some new product with their new own ideas in this that particular company or person having copyright to no other companies and persons are not copy their assets or products like software, device, books and so more. Through the design and patent Act 1988, help to manage violation and problems in this matter(Percival and et. al., 2013).

4.4 Compare the protection of trademark and business names.

Trademark and business name are refers to companies name and product name as well. Through the trademark consumers are easy to differentiate their product in the competition market. By these manage and control on working performance of companies. There are imposed some rules and regulations so other companies are not legally able to company trademark of the company and also their name(Robson, 2010).

Conclusion

As per this project report, to manage and control the sellers and buyers in the effective manner so there are imposed some legal rules and regulation by the government of the country. According to the sale of Goods Act 1979, seller is responsible to sale products and goods to the buyer. In which made a legal agreement between both parties in which inducing rules and regulation those are have to follow by the both parties. When seller is sale to the products to the buyer so buyer is liable to pay amount of product those are decided by the mutually party. In this report also explained competition Act 1998, agencies and intellectual properties in the effective manner. After purchasing the products an goods by the buyer so buyer will not able to take refund amount through the seller and does not have any legal right by the government.

References

Books and Journal:

  • Abdi, M. and Aulakh, P.S., 2012. Do country-level institutional frameworks and interfirm governance arrangements substitute or complement in international business relationships?. Journal of International Business Studies. 43(5). pp.477-497.
  • Appleman, J.A., Appleman, J. and Holmes, E.M., 2015. Excuses for Nonpayment and Defenses to Actions for Premiums (Vol. 5). Appleman on Insurance Law and Practice.
  • Bishara, N.D. and Westermann‐Behaylo, M., 2012. The Law and Ethics of Restrictions on an Employee's Post‐Employment Mobility. American Business Law Journal. 49(1). pp.1-61.
  • Bishara, N.D., 2011. Governance and corruption constraints in the Middle East: Overcoming the business ethics glass ceiling. American Business Law Journal. 48(2). pp.227-283.
  • Crane, A. and Matten, D., 2016. Business ethics: Managing corporate citizenship and sustainability in the age of globalization. Oxford University Press.
  • DiMatteo, L.A., 2010. Strategic contracting: Contract law as a source of competitive advantage. American Business Law Journal. 47(4). pp.727-794.
  • Folsom, R.H. and et. al. 2012. International business transactions: a problem-oriented coursebook.
  • Foss, N.J. and Knudsen, C., 2013. Towards a competence theory of the firm (Vol. 2). Routledge.
  • Haselmann, R., Pistor, K. and Vig, V., 2010. How law affects lending. Review of Financial Studies. 23(2). pp.549-580.
  • Intellectual Property 2017[Online] Available Through: <https://www.lawteacher.net/lecture-notes/contract-law/terms-lecture-2.php> [Accessed on 2 may 2017]
  • Kitagawa, Z., 2016. Dispute Settlement (Vol. 5). Doing Business in Japan.
  • Latimer, P., 2012. Australian Business Law 2012. CCH Australia Limited.
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