Co-Evolution of MNEs and Institutional Environment

An evolutionary approach to understanding international business activity is explored in this assignment. The co-evolution of multinational enterprises (MNEs) and the institutional environment is examined as a key factor in shaping international business activity. The concept of MNEs' co-evolution with the institutional environment highlights the dynamic relationship between these two entities, emphasizing that both evolve simultaneously over time. This approach recognizes that institutions are not fixed or predetermined but rather are shaped by the actions of MNEs and other actors within the international business environment.

BUSINESS LAW

Table of Contents
INTRODUCTION....................................................................................................................................................3
TASK 1.....................................................................................................................................................................3
1.1 Implied condition related to sales of goods act.............................................................................................3
1.2 Statutory provision related to transfer of property........................................................................................4
1.3 Remedies of buyers and sellers.....................................................................................................................5
1.4 Legal and statutory provision related to faulty goods...................................................................................6
TASK 2 ....................................................................................................................................................................6
2.1 Types of credit agreement.............................................................................................................................6
2.2 Rules on termination of right........................................................................................................................7
2.3 General feature of agency and different types of agents..............................................................................7
2.4 Duties as well as agents................................................................................................................................8
TASK 3.....................................................................................................................................................................9
3.1 Monopolies and anti-competitive practices related to UK...........................................................................9
3.2 Role of competition commission in fair trading of UK. ............................................................................10
3.3 Dominant within EU market. .....................................................................................................................10
3.4 Exemption to the anti-competitive practices..............................................................................................10
TASK 4...................................................................................................................................................................10
4.1 Different forms of intellectual property rights............................................................................................10
4.2 Principals relating to protection of patent...................................................................................................11
4.3 Principals relating to copyright protection..................................................................................................12
4.4 Compare and similarities among trade mark and business name...............................................................12
CONCLUSION......................................................................................................................................................12
REFERENCES.......................................................................................................................................................14

INTRODUCTION
Business law is the legal term which is related with the law of contract. In this two or
more parties are contractual relationship with each other and they are liable to follow duties
and liabilities. It defines various rules and regulation which have to be follow by the parties.
The present report is related with Sales of goods act in which two parties name called seller
and buyers comes in the contractual relationship with each other. Seller is responsible to
deliver best quality of products and services to their customers. They have to provide goods
as per the description which is send by customer at the time of place an order. Agency law
also define various types of rules and regulation. In this legal process two parties are involve
name called agent and principals (Bebchuk and Jackson, 2011). Agent is the person who act
on behalf of their principals and responsible to follow instruction provided by them.
Intellectual property right are provided by the government to every person who want to safe
and secure their business names and trademarks. Competition commission is able to frame
some policies which are related with the competition.
TASK 1
1.1 Implied condition related to sales of goods act.
On the basis of Sales of goods act, 1979, there are two parties name called seller and
buyer. Seller is the person who deliver goods to their customers and try to attract them as
well. On the other hand, buyer is the person who purchase goods from seller and pay price for
it equal to the amount which they decided previously at the time of delivery of specific
products. They both are comes in the contractual relation and try to fulfil duties which are
imposed on them according to law (Bishara and Westermann‐Behaylo, 2012). Seller is the
person who empowered by the legal authority to sale the goods and services to their
customers and try to meet their level of satisfaction as well. As per the given scenario, Ben is
the person who act an buyer. He purchased car from car dealer. Dealer tells him that car has
only one dealer and its driven only 18,500 miles. In order to show his seriousness Ben send
150 pounds to him in advance which are not refundable. After buying the car he went with
his family for a drive. On the way of destination he realised that engine of car is not working
well and also it has two owner rather then one owner as defined by the car dealer. After that
Ben wants to return car, but dealer refused to accept the same because according to clause 9,

buyer is responsible to check goods before purchase after that there is no responsibility of
seller. And this written document is signed by the Ben (Cantwell, Dunning and Lundan,
2010).
As per the Sales of goods act, 1979, there is implied condition that seller is
responsible to deliver best quality of goods and services to buyer. At the placed an order an
buyer send description to seller so that he is responsible to deliver goods accordingly.
Section 14 says that the quality of goods must be better and able to their level of
satisfaction.
Case: In the case Harlington & Leinster v Christopher Hull Fine Art, 1991, the goods which
are defendant are not best quality. As quality of product is not meet with the level their
standard expectation.
1.2 Statutory provision related to transfer of property.
Government framed some rules and regulation which are related with the transfer of
property and possession (Cantwell, Dunning and Lundan, 2010). These can be mentioned
under the section 18 to 25 which are mentioned below:
Determination of product- The goods and services which seller is going to deliver to
buyer must be determine then transfer to customer. According to section 13 the product
which deliver by seller must comply with the description as provided by the buyer at the time
of place an order.
Intension- As per the law, the intension of parties must be present in every contract.
According to given scenario, Ben show his seriousness by providing 150 pounds in advance
which are not refundable (Colpan and Hikino, 2010). If intension is not present in any
contract then the contract is not enforceable by law.
Product- It is the subject matter on which the contract is framed and both parties
responsible to follow their duties which are imposed in them.
As per the section 12 of Sales of goods act, 1979, seller have a right to sale to goods
and able to earn profit as well.
On the basis of this act, buyer have to provide description to seller they have a right to
receive product accordingly.

Case: Niblett v Confectioners' Material, 1921, in case it has been clear that after getting
good buyer gets an possession over property. So that, there is no interference of another
party.
1.3 Remedies of buyers and sellers.
Sales of goods act, 1979. has been defined remedies which are able to protect the right
of both seller as well as seller. It consists some provision which are related with remedies as
provided to both the parties (Colpan and Hikino, 2010). On the basis of legal advisor Citizen
Advise Bureaux, some different types remedies are as follows:
Seller's remedy-
Price not paid- Buyer is responsible to pay price for the product for which they place
an order. At the time delivery of goods buyer have to provide amount equal to amount which
are decided by them. For example: X is the seller who is ready to sale bulk of rice to Y. and
Y placed an order for the same. So that, at time of deliver of product by the X, Y is
responsible to pay amount equal to the which they mutually decided.
Not accepted- If buyer placed an order for some specific goods then at the time of
delivery they have to accept (Crane and Matten, 2016). Otherwise seller are able to file
against them. For example: A placed an order for goods and seller deliver the same goods. So
that, A have to accept the same otherwise B is able to sue him for non acceptance of goods.
Buyer's remedy-
Delay- As per the law, seller is responsible to deliver goods with in the timely
manner. Otherwise buyer is able to file case for the damages caused to him for the delay in
delivery. For example; A is the seller who agree to deliver bike with 2 days but he not able to
deliver in the specified time and provide with 5 days. In that case B who is the buyer has right
to file case against him.
Non delivery of goods- If both parties are comes in the contractual relationship with
each other for accept and deliver of goods. So that, there is duty of seller to delivery of goods
otherwise buyer is able to file against him.
Non meet standard quality- According to sales of good act, 1979, seller have to
provided good quality of goods and services and try to meet standard quality of material as
well.

1.4 Legal and statutory provision related to faulty goods.
According to provision of Consumer protection act, the right and duties of buyers and
sellers has been protected through which if cause arise to them they are able to file case
against another party (DiMatteo, 2010). This law is able to protect the right is people and
provide proper safeguarding to them. If any damages to any of the party then party is able to
file claim for the damages which are caused to them. Some statutory provision which are
related with the act are as follows:
 They have to provide goods and services which are according to description
which are send by the buyer at the time of place an order.
 Not deliver faulty goods otherwise buyer having a right to file case against
seller.
As per the given scenario, car dealer deliver defective goods to Ben through which his family
caused damages because of defective car. Dealer tells him that the car has only one owner
and its only driven to 18,500 miles. But he went with his family and he realised that the
engine of car is not working well and it has two owner. For the same reason the family of Ben
caused damages. As they are liable to file case against in order to recover claim for the
damages.
TASK 2
2.1 Types of credit agreement.
Credit agreement defined various types of rules and regulation which are imposed
have to be fulfil by all the parties. It defines the types o0f payment and agreement which are
created among seller and buyer (Foss and Knudsen, 2013). It consist various types of modes
of payment which are buyer has been in the transaction.
Hire purchase- It is the legal term which define some rules and regulations. In this
concept customers are able to purchase goods and after that gets possession over the property.
In this case the payment is made by the third party called as credit on behalf of customers.
But after customer is liable to give payment to creditors. With the help of this procedure
buyers are becomes the owner of that property. As per the section 21 of Consumer Credit act,
2006, consist financial institution, debt collectors, money lender and much more.

Conditional sale- In this types of sale buyer gets an possession over property. After
that, they are able to either keep with themselves or sale it another person (Grundfest, 2010).
But third party made payment on behalf of buyer and but customer is responsible to return
amount.
2.2 Rules on termination of right.
Termination is stands for when right come to the end and there is no longer existence
of them. In case if Ben is the debtor then can be happened the situation is as defined below:
 Various situation has been arise if Ben as well as relevant parties are
terminate the right before the deciding time and date.
 If legal agreement has been breach due to any of reason.
 According to law debtor is responsible to pay amount to creditor as per they
decided previously.
 In this case if Ben act as a debtor then they have to pay amount to the
creditors.
 As per section 94 to section 97 defines the settlement with the debtor.
 Credit agreement must be terminated after the prior consent of both creditor
and debtor.
 According to the section 98 to 101 every debtor is responsible to return back
the amount to creditors equal to which they previously decided.
Default notice- This notice is issued by the third party in order to recover amount which is
paid by the creditor on behalf of customer (Miller, 2015). As per the Consumer Credit
Agency, 2006, the creditors are able to receive payment from buyer.
In case legal agreement has been breach then creditors rev able to send notice to buyer
for recover amount. If rights of debtor has been revoked then issue is created.
Case: In case Microbeads v Vinehurst Road Markings, 1975, it has been decided that
seller having right a right to transfer of products and services. If condition has been breached
then buyer having a right to reject goods. Which must be free from undisclosed charge
through which buyer can able to enjoy possession.
2.3 General feature of agency and different types of agents.
Agency is the legal term in which two parties are comes in the contractual relationship
with other. In this legal term there are two parties name called agents and principals. Agent is

the person who perform act on behalf his principals and responsible to follow instruction
which is provided by the principals to them (Nichols, 2012). There must be legal agreement
present which is signed by both the parties and have to terms and condition which are
mentioned in it. Some features of agency are as follows:
Parties- In order to framing an contract there must be two or more parties. Parties
must be called as agents and principal (Percival, Schroeder, Miller and Leape, 2013). They
have to comply with the rules and regulation which are imposed on them. Agent is the person
who is responsible to follow instruction which is provided by the law.
Written agreement- There is a written agreement among parties and have to stamped
by them as well.
Legal agreement- The agreement which is created among parties must be enforceable
by law. If it is not then law is completely reject it and imposed penalty on them if it is
consider as illegal.
Some types of agents are as follows:
Factors- These types of agents are able to deal in the property of principle which are
tangible in nature.
Brokers- They are dealing the assets of principal which are intangible in nature rather
then deal in the tangible assets.
Auctioneer- They are responsible to deal in the auction of principle's property
whether tangible or intangible.
Directors- Helpful in manage their overall operation of the company. As they are
actively participate in the performance of the company.
Partners- They act an agent of each other. One person perform for all and all person
perform for one.
2.4 Duties as well as agents.
As per the agency law, there are two parties who are responsible to follow rules and
regulation which are imposed on them as per the law. Agents are responsible to follow
instruction of principal and comply with the rules and regulation. Both parties are comes in
the contractual relation and which is completely enforceable by law.
Rights of agents-

 Rights to receive remuneration from principals for the act which is performed
by them.
 Right to lien is the important legal term which is can able to protect the right
of them.
 Right to deduct the amount which they spend on behalf of principals from
their personal income.
 Right to be indemnity against the liability which is imposed on them.
Duties of agents-
 Agents have to instruction which are provide by their principal and try to fulfil
them as well in timely and efficient manner.
 They are responsible to conduct business only with the name. As they are not
able to their name for conducting business (Scholes, 2015).
 They have to maintain relation among them and try to maintain them as well.
 Agents are able to use their entire skills and knowledge in order to attain their
target and complete task as well.
 Try to interact more each other and maintain rules which are imposed on them
as per the law.
 Have to perform duty honestly as well as faithfully.
TASK 3
3.1 Monopolies and anti-competitive practices related to UK.
There is a growing concern that, government of UK has imposed restriction on the
overseas companies that they are not able to comes in the domestic country. If they can do so
then competition of domestic companies has been increased through which they are not able
to earn profit margin and their survival is also become difficult with this (Siedel and Haapio,
2010). According to Competition act, 1999 overseas organizations are not able to enter under
the domestic country.
On the other hand, in the monopoly market there are only few seller but large number
of customers are there. Through this market situation companies are able to improve their
performance and earn large profit as well. If overseas companies are enter into the United
Kingdom then monopolies are break and domestic companies to maintain performance and

not able to earn profits as well. Related this situation competition commission framing some
rules and regulation which are able to reduce competition in the country and try to maintain
them as well (Spalding, 2011). Through this fair trading has been maintained under the
country and in which sellers can easily survive and attract large number of customers as well.
3.2 Role of competition commission in fair trading of UK.
On the basis of competition act, 1999, the competition can be maintain with the help
of this factor. In order to maintain this in a United Kingdom competition commission play an
important role in this concept. Fair trading can be maintain with the help of this legal
authority and they are able to frame some rules and regulation which have to be maintain by
all companies. The cases which this legal authority has been enforceable by law.
3.3 Dominant within EU market.
Every company enjoy dominant position in the EU market which having impact on
the overall performance of EU common market. Exploitation of people can be reduce with
the help of this concept (Sprague and Wells, 2010). Further, it is fair situation for the people
in which they are easily survive. Through this situation people can able to feel safe from
discrimination. It included delivery of goods and services. Dominant position of companies is
play an important role in the international market.
3.4 Exemption to the anti-competitive practices.
According to the article 102, which may include various types of behaviour which are
important for them. These exemptions are helpful companies to meet their standard level of
expectation. Through this they are able to attain their set of target and improve performance
as well. In the anti-competitive practices the government of UK has imposed penalty on the
overseas companies and they restrict them to enter into the domestic companies. Through
which the competition of domestic companies is increased in which they are not able to
perform and earn less profit margin as well.
TASK 4
4.1 Different forms of intellectual property rights.
Intellectual property right is the creation of mind which are not tangible assets but
they are legally presented in the law. It has different forms of such as copyright, trademark,
patents and design. Which are as define below:

Copyright- It can able to protect the specific name and things of any person but it has
to be registered under the act. If it register then no other person use this without the approval
of owner. It is the creation of something which needs to be protected under the law.
Patent- It is related with creation and invention which is done by the one person and
protected by them as well (Ye, Law, Gu and Chen, 2011). Owner have a right to restrict other
person for use this. In this concept owner create something which is different from another
thing. He have to legal right to bound other people to use this. If other people can use this
then it is totally unenforceable by law.
Trademark- This is the part of intellectual property right which can differentiate one
organization from other. Owner have to register their name and creation which are according
to the law. This concept can able to protect the name of company and try separate them from
other organizations.
4.2 Principals relating to protection of patent.
The patent is the right of individual which have to registered under the law. This is the
monopoly right which is have to enjoy by the one owner. This cannot be use by another
person without the approval of person. It is related with the inventions which is done by the
one person and have to be registered them as well. The patent of one person can be protected
by the various types of goods and services which is framed by the government of UK. The
government of UK is responsible to frame some rules and regulation which are able to protect
patent of one person and try to maintain their right as well. Some important points which are
related with the patent are as aligned below:
 Patent is related with the invention which is registered by he government.
 This law is able to protect the invention of person from misuse and illegal use
of patents.
 If another person use patent without the consent, then another person is liable
to pay compensation. Government frame some rules and regulation which are
able to protect their rights and duties.
 If their their patent has been use without their permission then guilty person is
responsible to pay amount equal to the imposed by the court.
 Owner having a right to claim for damages which are caused to them and also
able to receive compensation amount as well.

 Patent is the important element of intellectual property right which has to be
safe with the help of rules and regulation which are framed by the government
of UK.
4.3 Principals relating to copyright protection.
Copyright is the process that can create a huge impact and hence by this process it can
create a negative impact in business process as well. Some of the basic principles that can
help in the aspect of protecting copyright would be that the organization should create a
passwords or block the sites of copyright (Business Law. 2017). This can help in the aspect of
better growth as well as this would create an better impact in future growth as well.
Copyright protection can be done on the basis of better strategies that can create a better
functioning of an organization. By this process no other person would be able to track the
data and designs of an organization that plays an important role. If there would be proper
control on copyright this can help in better aspects of growth. Copyright protection can be
done on the basis of codes that is the main function that can create a better growth in
organization. By the code system it can have a positive impact in which copyright doesn't
take place and hence this would create a better impact in business process as well. These
better strategies would create a better impact in which copyright can't be done and
organization would be safe.
4.4 Compare and similarities among trade mark and business name.
Both trade mark and business name is able to protect the right of companies they are
able to differentiate organization from one business to another. These concepts are able to
improve performance of company in the international market and try to their right as well.
Companies are run their business with their names which can differentiate them from one to
another. Business names are those which is registered by companies and operate their
business with this name (What is Business Law?. 2017). They run business from this name.
Trade mark is the name of company which have to be registered by them. They can safe and
secure and the name and existence of company.
CONCLUSION
As per the report I have concluded that In business law we've got to clarify
concerning the corporate policies. within the business the producer is liable for the products

and services the standard of fine the producer is giving is should be good or not. If it's not
sensible then the buyer have right to try to to case against him. Their square measure several
rights and duties within the company. the Govt. of kingdom have conceive to overseas
corporations to begin business within the domestic market as a result of it cause badly impact
on the existence of domestic companies.

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What is Business Law?. 2017. [Online.] Available through: <http://www.quizlaw.com/what-
is-business-law/> [Accessed on 6th May, 2017].

Business Law. 2017. [Online.] Available through: <https://law.ucla.edu/academics/areas-of-
focus/business-law/overview/> [Accessed on 6th May, 2017].