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Business Law in Rejuvenate

   

Added on  2021-01-01

10 Pages3018 Words392 Views
Law
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Business Law
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Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................8.........................................................................................................................................................8
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INTRODUCTIONThe legal provisions applicable on commercial transactions or dealings in an organizationis called business law. The main aim of such law is to protect parties involved from legaldisputes. It is branch of civil law and deals with the issues of private and public law. It is alsocalled as mercantile law or commercial law (Mann and Roberts, 2015). The report coversdifferent areas of law that have potential impact upon a business and application of legalprinciples to a hypothetical legal scenarios to show the working of such laws. These will alsoinclude remedies that may be sought by consumer for infringement of legal obligations andimpact of law of tort in the case scenario. MAIN BODYIn the given case, Sam is an aspiring businessman who is planning to set up his firstbusiness. He will be selling a moisturiser manufactured with snail slime and other chemicals.However, Sam is doubtful about his business venture because of the fact that he'll be legallyresponsible for the product. At the same time, his obligations to public is not known to him. According to Sam's prediction, the product “Rejuvenate” will be in high demand, thus, isthinking to appoint employees for manufacturing, packing and distribution of the product. Alongwith this, he would like to have the knowledge about how to protect product and have fullownership on his idea. Outline Sam's contractual and consumer obligations to potential customers and legal remediesfor infringementA contract means an agreement between a parties executed with some valuableconsideration and legal consent which is enforceable by law. However, it should be a validcontract only then can be enforceable by law. Contractual obligation can be defined as thefulfilment of terms and conditions which have been mentioned in the contract (Fried, 2015). Further, every contract include ways in which obligations are carried out. For example, ifthe term of contract provide method of payment, then consideration involved will be made in thatmode or method. A person who wish to establish a all new business has to enter into contract notwith only customers, but also with shareholders, directors, employees, government, suppliers andeven the society in which is going to operate. It may be in written or oral form but must havelegal binding so that it can be enforced in courts. Contractual obligations mainly consist of1
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