Business Law: Legal Rules and Statutory Provisions

This document provides an overview of the legal rules and statutory provisions related to business law. It covers topics such as implied terms, transfer of property, buyer's and seller's remedies, product liability, credit agreements, termination rights, agency, monopolies, anti-competitive practices, and intellectual property rights. The content is relevant for students studying business law and related subjects.

BUSINESS LAW

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Advice to Ben on legal rules of implied terms associated with sale of good and supply of
services........................................................................................................................................1
1.2 Advising Ben over statutory provisions on transfer of property and possession..................2
1.3 Evaluating the statutory provision on buyer's and seller's remedies within sale of goods
contract........................................................................................................................................2
1.4 Analysing and advising on product liability legal rules and statutory provision for faulty
goods...........................................................................................................................................3
TASK 2............................................................................................................................................4
2.1 Differentiation among kind of credit agreements that Ben as consumer can use.................4
2.2 Analysis of legal rules on termination rights and default notices for Ben as consumer.......4
2.3 Analysing the general features of agency and differentiate among varied kinds of agents. .5
2.4 Evaluating the rights and duties of agents for assisting Ben understand his position...........5
TASK 3 ESSAY..............................................................................................................................6
3.1Outlining and explaining the monopolies and anti-competitive practice legislation.............6
3.2Role of competition commission in context of monopolies and anti-competitive practices. 6
3.3 Defining dominant position in EU common market.............................................................6
3.4Considering instances when under EU law exemptions will be made to potentially anti-
competitive practices...................................................................................................................7
TASK 4 ESSAY .............................................................................................................................7
4.1Identifying and explaining different forms of intellectual property rights............................7
4.2Principles related to protection of invention by means of patent rights and legal rules
preventing their infringement......................................................................................................8
4.3 Principles related with copyright protection and legal rules preventing infringement.........8
4.4Comparing and contrasting protection of trademarks and business names providing
practical examples.......................................................................................................................9
CONCLUSION................................................................................................................................9
REFERENCES .............................................................................................................................10

INTRODUCTION
Enterprise regulation is being established in direction of bringing moral along with
governing structure so as to bring out the industrial transactions. In different phrases it is taken
as a issue that's given by the British parliament as a way to modify the industrial affiliation
amongst trading enterprise character. Events that involved in the official responsibilities of
business regulation this is comprised of arrangements of laws consisting of income of desirable
Act, competition act as well as Monopoly act. The existing examine pursuits at presenting ideas
and software of the regulation this is associated with the marketing of goods, patron credit,
agency, monopolies and anti-aggressive practices. The file additionally consists of debate of
psychological assets rights this is associated with the enterprise contracts. The existing case act
as an resource in making review of the statutory provisions on the consumer's and vendors
treatments. It hired the major aspects that directly impact the legal association.
TASK 1
1.1 Advice to Ben on legal rules of implied terms associated with sale of good and supply of
services
The case state of affairs requires that disciple desires to make use of recent vehicle this is
referred by car provider's magazines. The commercial provided detail description of the unique
vehicle that Ben decided on and end up second hand car (Twomey and et.al., 2016). When Ben
visited the showroom the car was not available at the showroom. Ben pay one hundred fifty as
amount in shape of interest. He buoyed the product on the same moment because he liked it very
much. In evaluation to such after distributing at the same time as Ben changed into taking his
family on revel in the vehicle it changed into determined by way of him that vehicle engine
changed into heating up and therefore he demanded for regular settle down and then restart. He
then took lower back the auto mobile to car supplier wherein he turned into being informed that
auto mobile possess proprietors formerly in preference to first and 2nd proprietor has
implemented the auto mobile as taxi cab. In the present case both buyer and seller has the legal
obligation. The obligation can be cover under the section 12-15 of sales of good Act 1979 as
follows:
section 12 The vendor desires to have the ownership of
the goods so that it will switch the rights
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associated with possession.
section 13 After the product is successfully stated the
details of the product and real product has to be
copied.
section 14 The product must be unique which is
appropriate via the client in addition to the
product need no longer to be defective.
section 15 The best of product within the test pressure
turned into not definitely portrayed because the
vicinity for using turned into now not equal
compared with real situation.
1.2 Advising Ben over statutory provisions on transfer of property and possession
Commercial enterprise regulation divided the good into precise in addition to unspecified
merchandise (Bodie, 2013). In the case clear detailed description has been given therefore it
modified into unique proper with respect to the rules. In assessment to this unofficial goods,
goods are one which are not specifically defined by means of the seller. Statutory provisions are
as follows:
1. The sales that is performed desires to have combined hobby for the events that are
involved inside the transaction.
2. Clients are given the the products criminal rights along with the product
3. Products for income wishes to be perfect officially.
4. The goods name need to be changed simplest in the condition when the seller own the
possession of the goods.
The prevailing case reflects the statutory obligations by means of the parties may be approved
and applied in an powerful ways. However exclusion clause became not according with statutory
responsibilities related with transfer of property Act 1882.
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1.3 Evaluating the statutory provision on buyer's and seller's remedies within sale of goods
contract
The consumer and seller associated with the product own rights in addition to duties
inside the promoting transactions (Ebert and Griffin, 2015.). The non performance of any of the
parties have supplied the effects. Some of the remedies are mention below:
1. The performance is essential and in state of affairs such isn't always, the product should
be change or replace for precise items it wishes to be preferred. inside the gift situation
the product was regarded as faulty as well as overall performance became not gained. As
particular product it need to no longer get replaced. for that reason the refund of product
has to executed.
2. In the product transfer the caused damages are additional along with the wishes to be
stopped by the consumer. within the current situation Ben has the legal responsibility for
responding towards the freight, repair in addition to several more costs paid in relation
with car.
3. A dealer has the claim closer to claiming the whole/permitting charge of item in shape of
consideration. In this scenario the supplier of vehicle has legal responsibility to claim
£10,000 for auto mobile that is 2d hand.
4. The item may be secured by using the vendor in state of affairs settlement terms aren't
acquired. Consequently legal responsibility of Ben does no longer stand up toward
making payment.
1.4 Analysing and advising on product liability legal rules and statutory provision for faulty
goods
Consumer protection Act, 1987 makes assessment of the liability related to product as
well as statutory provisions for the products (Stemler, 2013). It lay emphasis on assisting the
parties injured in the contract through the notion of treatments which will deal with same. In the
given case it is stated as:
1. At the time of buying the product defects which are present can not be calmed. In the
present case Ben was knowing about the defect but it was not affecting at the time of test
drive.
2. The consumer has to prove that damages are skilled through them due to misconduct . In
the given case product satisfactory does no longer fit the description of the product.
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further the facts related with the product become not discovered efficiently through
vehicle's dealer.
3. The product consumer desires to own prove that the product purchase by means of them
changed into defective and does now not possess suitable condition for utilization. inside
the case furnished Ben can show such via disclosure of the condition of engine and issues
of begin in the auto mobile.
From the above analysis Ben has the liability to ask for the damages and for the replacement .
TASK 2
2.1 Differentiation among kind of credit agreements that Ben as consumer can use
Bank loan: Bank loan is a credit agreement that help in attainment of lum-sum of price
range for precise period of time and payment desires to be made after unique credit period (May
and Leighton, 2013). Within the present case money can be borrowed by Ben from bank in
opposition to sure treasured and reliable security . Such funds can be utilized for the sake of
wearing out the capabilities of the firm and repayment might be executed after some time.
Credit sales: Under this agreement customer want capital asset similarly to the possession is
being transferred to the purchaser even as making sales. Formation of settlement is shaping up
the approach of income and in case rate is skipped via consumer, provider has electricity to make
termination of the contract. Ben should use such degree for developing nicely defined manner of
selling and buying the goods.
Hire purchase: It's miles considered as device this is effective and nicely controlled that
conducts the operations of business enterprise for the prevailing organization prospect. It permits
in development of agreement so as to buy capital belongings through charge of smaller and
amazing portions for property. In this device of credit score the creditor and debtor might
proportion suitable association.
2.2 Analysis of legal rules on termination rights and default notices for Ben as consumer
Business enterprise possess appropriate rights and authorities to be able to terminate the
settlement as well as ship the default word in case troubles aren't acquired in successful manner
(Appleman and et.al., 2015). The winning circumstance of the business enterprise demonstrates
that Ben provided the auto on credit rating rating through making charge with the useful resource
of credit rating card. but now he desires at terminating the settlement as he's experiencing the
problems within the direction of rate as client. Below are the demonstrate section:
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Section 77: The unique phase gives that patron have the proper to avail agreements copy that
consists of info concerning monetary transaction made via the party. Such could assist in
achieving complete disclosure of agreement further to information of transactions made and are
due to be made . Such would be suitable device for supplying the creditworthiness of celebration.
Ben can make declare against the agreement for you to make certain detail assessment of the
contract in the given situation.
Section 87 and 88: The unique phase offers client the proper to draft the awareness concerning
terminating the settlement in addition to troubles that are connected with the same 14 days
increase to cancellation of settlement. This assist in improvement of suitable manner of facts for
the occasions engaged. within the given scenario Ben has stated appropriate approach for
notifying the commercial company concerning the ineffectiveness of credit price similarly to
informing just like company.
2.3 Analysing the general features of agency and differentiate among varied kinds of agents
The various features of agency agreement:
1. It is expressed form for defining the statutory obligations (McInnes and et.al., 2013). It
makes development of well defined idea and regarding the roles and responsibilities of
several parties engaged within the contract.
2. it's far devised in implied or expressed shape for outlining the statutory duties that
attached with the firm. It makes improvement of properly described idea and regarding
the jobs and responsibilities of numerous events engaged within the settlement.
Varied kinds of agents are as follows:
Banks: Banking establishments are considered as crucial representatives of the purchasers
who've emphasis over managing the credit score rating functions within the business enterprise.
Such institutions taken into consideration as agent for the clients for the financial factors and
alters the provider charges regarding the same
Auctioneers: Such retailers are taken into consideration as one who are entitled in the direction
of the use of the right of the proprietor of highbrow property against which bidding is being
achieved. Such sellers makes sales of highbrow belongings of the owner inside auction.
Property agent: Marketers who offers with transactions associated with assets transfer and
paintings based on commission on the full value of property.
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2.4 Evaluating the rights and duties of agents for assisting Ben understand his position
Rights are as follows:
1. Ben has right to claim for the car sold to him. however right toward keeping the file is
with Ben most effective.
2. He has right to make claim in relation with justified remuneration for offerings he might
render to the parties who're engaged in the transaction.
3. The deal can be made cancel via Ben in situation he has kept the due payment to give.
Duties are as follows:
1. Guidelines should be provided at the time of purchase.
2. Ben own the responsibility that no hidden profit is being made by means of parties and
additionally operations of company are conducted for sellers ethically.
TASK 3 ESSAY
3.1Outlining and explaining the monopolies and anti-competitive practice legislation
The relation of legislation with monopolies and anti-competitive act are assorted for the
company. Such are offered in the way as under:
Monopolies and restrictive practices act 1948: Such are taken into consideration as regulatory
framework associated with company which limit the commercial enterprise to amplify its
operations to a particular factor that would offer the company monopolistic powers in the
organizational quarter (Crane and Matten, 2016).
Enterprise act 2002: It deals with merger, insolvency in addition to financial ruin of firm. It
makes positive that firm own no insignificant political impact, cartel practice has also been
criminalized within the economic system.
3.2Role of competition commission in context of monopolies and anti-competitive practices
The commission of competition of UK has critical characteristic in stabilizing the
opposition practices inside the economic system. It keeps nearer take a look at over the anti
aggressive of monopoly practices within the U.S. The authority makes sure that no unfair
practices of trade are being performed in financial system so one can create well advanced boom
measures (Dean, 2013). honest trading practices are affected within the economic system that
makes improvement of critical and defined effect at the enterprise growth. In addition the fee lay
emphasis on reduction of the impact of monopoly of the firm inside the economic system.
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competition in addition to market authority in addition to economic conduct authority possess
lively role in development of competition circumstance within UK marketplace.
3.3 Defining dominant position in EU common market
Dominant role in the marketplace is taken into consideration because the measure in
which the company takes controlling position within the economic system and carry out as sole
participant of market. The commercial enterprise takes benefit of the higher marketplace
percentage, high income and demand within the economic system (Pohl, 2017). This results in
introduction of wider have an effect on over the level of present opposition for the firm. on the
other hand dominant position in commercial feel is referred to as lifestyles of dominant role of
commodity or service in dominant market when creation of vital position inside competitive
regulations. The dominant role isn't being appropriate by means of united kingdom financial
system as consequences in minimizing the measures of competition in the economic system.
further it reduce the electricity to make selection on independent basis in order to function on
lower level.
3.4Considering instances when under EU law exemptions will be made to potentially anti-
competitive practices
The guidelines of competition have exempted positive practices that harm to the society
on entire. The prison report falls in the bankruptcy 1 or article 101 of opposition act implies that
acts has been excluded from the policy of competition. The regulatory framework states that
company that do not personal dominant function inside the monetary are being excluded from
the rules because it consequences in creation of nicely defined effect over boom of firm and
development. similarly such devices that could now not devise dominant role inside the
financial (Koehn and Elm, 2014). The policy of opposition is not fair for the firm at each
operations. Thus some practices that has lower effect on practices of buying and selling carried
out by means of firm negatively are being exempted. Regulatory authority takes actions for
discount of incidence to one enterprise units inside the economy. this is because of the purpose
that company seeks at development of properly described platforms for honest opposition within
the economic system. it'd result in inflicting greater penalty of 10% if the worldwide sales of
enterprise.
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TASK 4 ESSAY
4.1Identifying and explaining different forms of intellectual property rights
Rights are seemed as suitable prison moves which is probably being occupied with the
resource of regulatory agency as a way to guard the tangible in addition to intangible business
enterprise belongings from useless exploitation as well as accidents. Numerous type of
intellectual residences that is stated by way of prison regulations. Copyright is referred to as right
supplied to creator of modern services or products inside the market. this is for the sake of
securing product (Picciotto and Mayne, 2016). Patent has legal right for the corporation who has
made advent of recent product or range of service. Patent relaxed this from theft or from getting
copied. however trademark help to prevent the symbol, mark of the company that specific
identification of company.
4.2Principles related to protection of invention by means of patent rights and legal rules
preventing their infringement
Patent is taken into consideration because the legal right for the firm that help the
business enterprise in securing the felony rights in addition to obligations for firm to save new
product development. It restricts replica, reproduction or income with out the permission of
inventor. Copyright, designs and patent act 1988 help company in adoption of properly defined
measures for securing the assets inside the monetary (Disch, 2016). Consequently assist in
introduction of appropriate measures associated with increase of company. It makes positive that
innovations aren't found out to other party in the firm. this is eligible for application via
organization. the proper of technique help the company in attainment of described boom
elements in the marketplace.
4.3 Principles related with copyright protection and legal rules preventing infringement
Copy rights act assist work of ownership. The official documents gives to businessman or
organization by government with a particular name and logo proprietor have the straight to
power the reproduction product or services with their name and logo with similar content of
production and as well as similar packing or product (Bowie, 2017).
Copyright Principles :-
Original Scope of Legal right :Original Scope of Legal right is the act including all traditional
works like music, film, production of FMCG goods and do not produce similar product by any
other producer or company.
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Expanded Reach of legal right :-The legal right acts have adopts to new profession by
expanding the reach of secure work to consider such property as electronic media, hardware and
software.
None marking or registration:-Works are secure by legal right irrespective of whether a
copyright notification is connected and irrespective of whether the legal right is registered.
Penalties or fine charge by court:- According government rules and regulation if any
organization or company copy or produce similar product or service than the court charge
penalties or fine from the organization or company.
4.4Comparing and contrasting protection of trademarks and business names providing practical
examples
A business name and trade mark have different purpose or it will secure your
organization in antithetic ways.
A organization name is sole used to identified your organization.
Registry your organization name according government rules and regulation but government
give only rights over the name of trade mark
See the intellect ion below to help you interpret the differences :-
Business name :-
A organization name is the repute under which business direct and is related to your other
business name (Arsalidou and et.al., 2015). Means one name is use for all the organization or
business for main-ten your brand image and brand values for customers attraction for increase
customers visibility.
Trade mark :-
A trade mark is legal protect your name and stops copy from competitors in trading.
 When you recorded a trademark you get on inside use of that trade through your other
business name for running a successful business in the competitive market scenario and
cover the whole market of share of the business entity.
 A trade mark is protected all business transaction for earning money from business.
 A trade mark is identified the business logo of the company in the market.
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CONCLUSION
From the above look at it is able to be concluded that commercial enterprise that have
properly defined measures of increase possess vital legal responsibilities inside the market. The
regulations, legislation in addition to acts which can be connected with similar have been
mentioned in an effective way. in addition the observe disclose the rules with admire competition
in marketplace in addition to highbrow assets. consequently whole assessment of examine
demonstrates that commercial enterprise regulation is powerful in making advent of suitable
business operations. therefore commercial enterprise assist for favourable outcomes.
REFERENCES
Journals and Books
Twomey and et.al., 2016. Anderson's Business Law and the Legal Environment, Comprehensive
Volume. Nelson Education.
Bodie, Z., 2013. Investments. McGraw-Hill.
Ebert, R. J. and Griffin, R. W., 2015. Business essentials.
Stemler, A. R., 2013. The JOBS Act and crowdfunding: Harnessing the power—and money—of
the masses. Business Horizons 56(3) pp.271-275.
May, D. and Leighton, H. V., 2013. Using a Library‐Based Course Page to Improve Research
Skills in an Undergraduate International Business Law Course. Journal of Legal Studies
Education 30(2) pp.295-319.
Appleman and et.al., 2015. Excuses for Nonpayment and Defenses to Actions for
Premiums (Vol. 5). Appleman on Insurance Law and Practice.
McInnes and et.al., 2013. Managing the Law: The Legal Aspects of Doing Business. Pearson
Education Canada.
Crane, A. and Matten, D., 2016. Business ethics: Managing corporate citizenship and
sustainability in the age of globalization. Oxford University Press.
Dean, K. W., 2013. Teaching Business Law in the New Economy: Strategies for Success. J.
Bus. & Tech. L. 8 p.223.
Pohl, M., 2017. HANDBOOK ON THE HISTORY OF EUROPEAN BANKS. Economics,
(362).
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Koehn, D. and Elm, D., 2014. Aesthetics and business ethics. Dordrecht: Springer.
Picciotto, S. and Mayne, R. eds., 2016. Regulating international business: beyond
liberalization. Springer.
Disch, L., 2016. Representation. In The Oxford Handbook of Feminist Theory.
Bowie, N. E., 2017. Business ethics: A Kantian perspective. Cambridge University Press.
Arsalidou and et.al., 2015. Weak corporate governance can lead to a country's financial
catastrophe: the case of Cyprus. Journal of Business Law 4 pp.361-382.
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