Business Law: Analysis of Legal Principles and Practices

Business Law
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Table of Contents
Introduction...................................................................................................................... 3
Task 1.............................................................................................................................. 4
1.1). Analyse and advice Ben on the legal rules of implied terms relating to the sale of
goods and supply of services........................................................................................4
1.2). Analyse and advice Ben on the statutory provisions on the transfer of property
and possession.............................................................................................................5
1.3). Evaluate the statutory provisions on buyer’s and seller’s remedies in sale of
goods contracts............................................................................................................ 6
1.4). Analyse and advice on product liability legal rules and statutory provisions for
faulty goods.................................................................................................................. 7
Task 2.............................................................................................................................. 8
Introduction................................................................................................................... 8
2.1). Differentiate between types of credit agreements which Ben as a consumer
could use to buy a car...................................................................................................8
2.2). Analyse the legal rules on termination rights and default notices for Ben...........10
2.3). Analyse the general features of Agency and differentiate between the different
types of agents........................................................................................................... 11
2.4). Evaluate the rights and duties of an agent to assist Ben understand his position
once he becomes an agent himself............................................................................12
Conclusion.................................................................................................................. 12
Task 3............................................................................................................................ 13
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3.1). Outline and explain monopolies and anti-competitive practice legislation in the
UK............................................................................................................................... 13
3.2). Explain the role of the Competition Commission within the context of monopolies
and anti-competitive practices and the UK Office of Fair Trading now merged in the
Competition and Markets Authority in regulating Monopolies and Anti-competitive
practices..................................................................................................................... 14
3.3). Define dominant positions within the EU common market giving examples of
such businesses......................................................................................................... 15
3.4). Consider and discuss instances when under EU law, exemptions will be made to
potentially anti-competitive practices..........................................................................16
Task 4............................................................................................................................ 21
4.1). Identify and explain the different forms of intellectual property rights.................21
4.2). Outline the principles relating to the protection of inventions through patent rights
and legal rules preventing their infringement..............................................................22
4.3). Describe the principles relating to copyright protection and the legal rules
preventing their infringement...................................................................................... 23
4.4). Compare and contrast the protection of trademarks and business names giving
practical examples......................................................................................................24
Conclusion..................................................................................................................... 25
Reference:......................................................................................................................26
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Introduction
Regulation of illicit activities or practices is done by law. This report contains the laws
and norms which are applicable to the organisations operating in the business
environment. There are various laws which an organisation is liable to follow in true and
fair manner. This report also contains the duties which are owed by the buyer and seller
to each other while getting into an agreement of sale of goods. It also contains the laws
which provided a safeguard to the consumer against the malpractices which may result
in injury or damage. Some organisations adopt anti-competitive practices to maintain
their dominant position in the market. Such practices are prohibited and are regulated
by Competition Commission. In the last part of the report, various rights are explained
which provide security to the outcome of intellect such as invention, new idea, device,
etc.
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Task 1
1.1). Analyse and advice Ben on the legal rules of implied terms relating to the
sale of goods and supply of services
It is essential that goods or services which are provided by the seller to the buyer must
be consistent with the information or the description provided on the goods or services.
Both the parties get a contract when goods or services are provided by the seller to the
buyer. There are certain terms and condition which can be categorised as expressed
and implied terms. Expressed terms are those terms which are discussed and decided
by the parties to contract whereas implied terms are those terms which are unstated but
are already implied on the parties when a contract is made (legislation.gov.uk, 2018).
It is also stated in section 6 of the Unfair Contract terms Act, 1977 that implied terms
to the contract are required to be satisfied by both the parties to contract and such
terms cannot be ignored before expressed terms.
In accordance with the provision of section 12 to 15 of the Sale of Goods Act, 1979, it
is stated that the quality of the products and services must be as per the set standards
by the authorities and the quality and the quantity of the products must be as per the
description. It is also stated that when a sample is provided to someone, the main
product must be constant with the provided sample (Bridge, 2017).
As per the provided case, Ben is liable to receive compensation in case the product is
not as per the description provided to him before buying the product. Provision of
implied terms provides a safeguard to against such practices.
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1.2). Analyse and advice Ben on the statutory provisions on the transfer of
property and possession
There are two parties to the contract of sale of goods and services and such sale of
products and services are bound by certain terms and such terms are required to be
satisfied. It is the responsibility of the seller to provide genuine products so that buyer of
the product doesn’t have to incur any damages or loss.
There are various sections which provide norms and provisions for the transfer of
rightful property and its possession:
Section 16 of the Sale of Goods Act, 1979 states that only such products goods can
be transferred which are ascertained i.e. unascertained products cannot be transferred
or its title cannot be transferred.
Section 17 of the Sale of Goods Act, 1979 states that when a product is ascertained, it
can only be transferred, when there is an intention to transfer such product to its buyer.
It is also stated in this section that intention to transfer the possession of the products
can be ascertained by the terms of the contract and certain situations of the purchase
and the performance of the parties (Razman, 2014).
There are five rules specified in section 18 of the Act which is to be followed while
ascertaining the intention to transfer the possession of the product. It is mentioned in
the rules that property or the products will be transferred to the buyer when it is
expressed by him. The property or the product is to be transferred without any condition
and certain steps must be taken to develop the product or the property in the deliverable
state. It is also stated in the rules that buyer is liable to make payment for the property
or the products which are delivered to him.
In provided case, Ben is the owner, having the possession of the car as payment in full
is made by him after the delivery of the car.
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