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1904 Downloads I Published: 07 Feb ,2020
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).
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).
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:
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:
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:
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.
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).
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:
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.
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:
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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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
Duties of agents
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.
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:
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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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).
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).
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:
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).
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).
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).
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.
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