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Law for Business Managers- Assignment

   

Added on  2020-10-22

12 Pages3820 Words60 Views
LAW FOR BUSINESSMANAGERS

Table of ContentsINTRODUCTION...........................................................................................................................1Question 1. Explain the meaning of a 'representation' and how a mere representation can bedistinguished from a term of a contract. .....................................................................................1Question 2. What are the grounds in which dismissal from the employment would be unfair atlaw, which Monica should explain to the board of directors. .....................................................3Question 3. What are the main duties governing company directors that Monica should explainto the new members of the board?...............................................................................................4Question 4. Explain the principles governing the award of damages in the Law of Tort. Inwhat ways may damages be limited? ..........................................................................................6CONCLUSION................................................................................................................................8

INTRODUCTIONA law that governs the business and commerce is called “business law”. Business law isalso known as “mercantile law” or “commercial law”. It has two distinct areas viz. Regulationsof commercial entities through their respective laws such as partnership law, company law,bankruptcy law, etc. and regulation of commercial transaction through the contract law (Miller,2015). Business managers are required to follow the business law and other laws, regulations,etc. to carry their business smoothly. This report covers, the meaning of representation,difference between mere representation and contract, the grounds which can be considered forunfair dismissal, duties of the director, principles of award of damages in the Law of Tort and theways in which damages can be limited. Question 1. Explain the meaning of a 'representation' and how a mere representation can bedistinguished from a term of a contract. A representation is a statement of fact, in which a party relies before entering into thecontract. It is usually before the contract but a contract may have a representation repeated in thecontract. A misrepresentation is where a false representation has been made. The party may beentitled to cancel or repeal the contract and the party may also be entitled to claim the damages ifthey have entered into the contract by relying on the representation. It is different from acontractual term (Varuhas, 2014). In the given case, Monica is an Human Resources Manager (HR) at Young & Ernst LLP.She visits a local second hand car dealership called Cars R Us for purchasing a car. She sees a2006 Ford Mondeo. She then meet Chandler, the car salesman and tells him that she has littleknowledge about cars and is looking for a reliable car which can get her to work and back eachday. Chandler shows 2006 Ford Mondeo to Monica by quoting the words “This 2006 FordMondeo is absolutely the best car in the whole world. If you do not buy it you will be missingout!”. She believed on the expertise of Chandler and got convinced to buy 2006 Ford Mondeo.After two weeks, the car broke down. Due to this defect, Monica now wants to sue the cardealership on the fact that she relied on Chandler’s expertise and it was his expertise thatpersuaded her to enter into the contract. The expertise of Chandler will be termed asrepresentation on which Monica relied before entering into the contract. 1

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