Business Law and Its Impact

Business Law

Table of Contents
INTRODUCTION...........................................................................................................................4
TASK 1 ...........................................................................................................................................4
1.1 Legal rules on implied terms of sale of goods and supply of services..................................4
1.2 Statutory provisions on the transfer of property and possession...........................................5
1.3 Statutory provisions on buyer’s and seller’s remedies..........................................................6
1.4 Apply product liability statutory provisions for faulty goods...............................................7
TASK 2 ...........................................................................................................................................8
2.1 Differentiate between types of credit agreements.................................................................8
2.2 Apply rules, termination rights and default notices..............................................................8
2.3 General features of Agency and differentiate between the different types of agents...........9
2.4 Rights and duties of an agent................................................................................................9
TASK 3 .........................................................................................................................................10
3.1 Explain the monopolies and anti-competitive practice legislation.....................................10
3.2 Role of the Competition Commission and the markets authority.......................................10
3.3 Dominant positions within the EU common market...........................................................11
3.4 application of EU exemptions to potentially anti-competitive practices............................12
TASK 4 .........................................................................................................................................12
4.1 Identify differing forms of intellectual property.................................................................12
4.2 Principles related to protection of inventions through patent rights..................................13
4.3 Principles relating to copyright protection and the legal rules preventing their infringement
...................................................................................................................................................14
4.4 Compare and contrast the protection of trademarks and business names...........................15
M1..................................................................................................................................................15
Identify and apply strategies to find appropriate solutions.......................................................15
M2 .................................................................................................................................................15
Select/ design and apply appropriate methods/ techniques.......................................................15
M3 .................................................................................................................................................16
Present and communicate appropriate findings........................................................................16

D1 ..................................................................................................................................................16
Use critical reflection to evaluate own work and justify valid conclusion...............................16
D2 ..................................................................................................................................................16
Take responsibility for managing and organizing activities.....................................................16
D3 ..................................................................................................................................................17
Demonstrate convergent, lateral and creative thinking.............................................................17
CONCLUSION..............................................................................................................................17
REFERENCES .............................................................................................................................18

INTRODUCTION
In the modern time, the business or corporate law is important for run a effective
business. The business law is the law in which it regulate that how the organisation will start and
manage. Present report provide the information about the business law and the relevant
information like what are the legal rules on implied terms relating to the sale of goods and supply
of services. What are the statutory provisions on the transfer of property and possession and how
it will affect to the business law. It has been also identified that what are the types of the credit
agreements. This report applies the rules, termination rights and default notices in the given
scenario. This report also determine the rights and duties of an agent and how it will affect to the
business. The business law play an vital role in the organisation. Every business want to follow
the legal system for their business. This business law is important for the operating activities of
the company. The management level of the organisation want to implement the legal terms and
provisions (Mann, and Roberts, 2011). This report also identify the form of the intellectual
property. What are the principle relating to protection of inventions through patent right and
infringements.
TASK 1
1.1 Legal rules on implied terms of sale of goods and supply of services
The legal rules are important for the sale of goods and supply of services. The legal rules
always provides the surety to the buyers about the quality goods and supply of effective services.
According to the , the implied term are used in the contract and it is the type of provision. It is
taken from external legal source of the law. There are some source of the implied term. They are:
court, statute and the customs. The implied term of sale of goods and the supply of services are
regulated in the sale of service act, 1979 and 1982. Ben has a car but it was too old. After this he
purchased a new car of Passat 1.8. Ben decided to take his family for inter-city motorway cruise
but in the way, the car has stopped. After that he found that the engine of car would slow down
after that Ben took the car to car dealer to return it, but they refused to take it back. In that case
the buyers are responsible for these mistakes (Bodie, 2013).
There are some legal term which is related to the sale of goods and supply of services.
They all are given below:

 Sales of goods by description: The company need to sales their goods according to the
current condition of the goods. There are many features of the car which includes the
brand , design, model, etc. So, the company should provide the description about the
quality of the goods (Miller, and Cross, 2012).
 Title: it is also a base of the goods. The title of the goods should be effective and
attractive for selling the goods.
1.2 Statutory provisions on the transfer of property and possession
There are some statutory provision on the transfer of the property and possession. They
all are given below:
 Goods should determined: In this case of sale of goods, the goods will not transfer in the
provision of the uncertainty. So, the transfer of property and possession is important in
the case of the ascertained goods.
 Intentions of parties: In this case, the intention of the parties should be positive because it
provides the real and relevant information to the both parties. In this case, the purpose of
the contract party should be cleared and identified to the sale of goods.
 Specific goods: It has been stated by section 20 that at the time of unconditional contract
related with sale of goods of good condition, the property of goods is then passed to
buyer at contract's time and it is considered immaterial when delivery of goods and
payment get postponed.
 Necessary things should be done by seller regarding information of goods delivery to
customer.
 Testing of goods should also be done in proper way so as to make their delivery to
customers, and if it is not done then ownership of goods will not get passed.
 If the contract is unconditional and the goods are ascertained in that case, the goods will
be transferred at the time of the contract. So, the contract should be conditional and the
goods should be certain according to the sale of goods act.

 If the ascertained goods will be unconditional in that case, the goods ownership will be
transferred (Smith, Lawson, and Painter, 2012).
 If the correction has been given to the seller in that case, it is depending on the
ownership and property and possession of the sale of goods and supply of services has
been transferred or not in case of the ownership.
 The property and the possession of the company will not belong at the time of the
liquidation of the goods.
 If there are no information about the sale of goods in that case, the property will not pass
at the time of the contract (Latimer, 2012).
As per the case of R. Kempraj v. Messrs Barton Son & Co. which was based on the case
of transfer of property. According to this case, respondents entered in a deed of lease in respect
to the premises located at a particular location. It has an option regarding the lessee that it can be
renewed whenever there will be a need. The issue in regards with whether an option is provided
to lessee for getting lease, which was for a period of ten years , renewed after every ten years is
hit by the rule of perpetuity and is void ?
1.3 Statutory provisions on buyer’s and seller’s remedies
There are some statutory provisions on buyer and seller remedy in sale of good
contract. As per the case of Ben, these things must be considered by him, so that he will be able
to know details which are in regards with remedies of buyer and seller, and can claim if there is
any issue. As Ben got defected car from the car seller then it is very important that he must be
aware of his duties and remedies.
Seller remedy:
 According to the section 41-48, their deal should be with the real remedy of the seller
because this remedy deals with the real remedy of the seller. So, it should be real in the
nature.
 In the case of the sale of goods, the seller are able to resale the goods at the time of the
contract because it is the important right of the seller at the time of the resale of the
goods.