Rules and Regulations Adopted by Business
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Added on 2020-02-03
Rules and Regulations Adopted by Business
Added on 2020-02-03
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BUSINESS LAW1
Table of ContentsIntroduction..........................................................................................................................................3TASK 1.................................................................................................................................................31.1 Analyse and advice Ben on the legal rules of implied terms relating to the sale of goods and supply of services.............................................................................................................................31.2 Analyse and advice Ben on the statutory provisions on the transfer of property and possession.........................................................................................................................................41.3 Evaluate the statutory provisions on buyer’s and seller’s remedies in sale of goods contracts.41.4 Analyse and advice on product liability legal rules and statutory provisions for faulty goods in case Ben........................................................................................................................................5TASK 2.................................................................................................................................................52.1 Differentiate between types of credit agreements which Ben as a consumer could use to buy acar......................................................................................................................................................52.2 Analyse the legal rules on termination rights and default notices for Ben as a consumer in case he had problems in future paying the debts as required in the contract....................................62.3 Analyse the general features of Agency and differentiate between the different types of agents................................................................................................................................................72.4 Evaluate the rights and duties of an agent to assist Ben understand his position once he becomes an agent himself.................................................................................................................7TASK 3.................................................................................................................................................83.1 Outline and explain the monopolies and anti-competitive practice legislation in the UK.........83.2 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.................................83.3 Define dominant positions within the EU common market giving examples of such businesses.........................................................................................................................................93.4 consider instances when under EU law and exemptions will be made to potentially anti-competitive practices......................................................................................................................10TASK 4...............................................................................................................................................104.1 Identify and explain the different forms of intellectual property rights...................................104.2 Outline the principles relating to the protection of inventions through patent rights and legal rules preventing their infringement.................................................................................................114.3 Describe the principles relating to copyright protection and the legal rules preventing their infringement....................................................................................................................................114.4 Compare and contrast the protection of trademarks and business names giving practical examples.........................................................................................................................................11Conclusion..........................................................................................................................................12References..........................................................................................................................................132
INTRODUCTIONBusiness law is essential factor in today’s business as increasing complexities can be improved with the passage of time. This report is all about legal rules and regulations adopted by anindividual in improving their business. It states about sale of goods act, anti-competition and monopoly act, consumer credit agreement act and also emphasises on the intellectual property rightslike patents, trademarks or copyrights that enhances the business performance.TASK 11.1 Analyse and advice Ben on the legal rules of implied terms relating to the sale of goods and supply of services.In the current case scenario, Ben has purchased a car from a seller who sells car to Bendescribing all details about the card sols by them to Ben who loved the look of the car and agreed topurchase the car. After purchasing car Ben went on a tour with family then he realised about thecondition of the car that its engine is not properly working. Ben he review the history and servicebook of the car he came to know that thus car had two owners and the engine of this car get blockedafter running 18500 miles (Kitagawa, 2016). When Ben came to seller about rejecting the car ongrounds of wrong description of the car provided by the seller then seller defence itself on thegrounds of showing Clause 9 mentioned in the agreement signed by Ben that seller have noresponsibility for providing whatever description provided by the seller.The current case of Ben comes under the category of Sale of Goods Act 1979 in whichimplied terms included in the act in which seller mentioned each and every in the agreement whichimposes liability on Ben in order to read all the clause before signing the agreement.According to the section 2(1) which defines the sale of goods occurred among seller orbuyer by transfers or agrees to transfers the property in goods to the buyer for something in returnor particular amount of considerations are termed as sale. The legal sale defined in the sale of goodsact falls under this act.Section 13 attracts in the current sale of goods in which implied terms is on the descriptionof the product that goods should corresponds to the description given by a seller to the buyer of theproduct (Dove, 2016). This section that states implied term in the act is that seller clearly mentionsin the sale of goods should not rely upon the description of the goods so that case, seller will nothold liable.Hence, in the current sale of goods the responsibility lies on Ben to review all the terms andconditions whether implied or ascertained in the act should be comply by the buyer before signingagreement of sale. So, the seller is not liable as it is Ben’s responsibility to review all the termsbefore entering in to the sale agreement.3
1.2 Analyse and advice Ben on the statutory provisions on the transfer of property and possessionIt is essential to know the statutory provisions regarding the transfer of property or takingthe legal possession of the property from the seller to the buyer. The transfer of property is essentialin order to fall in the sale of goods act to get certain relief and benefits of sale of goods act. Thebasic advantage currently gained by Ben is to get legal help when the status of transfer of propertygets cleared by ascertaining all the statutory mentioned in the act.According to section 16 to 20 which is concerned with the transfer of ownership of theproperty that is car sells y seller to the buyer that is Ben who purchased the car and taken theownership of the goods (Lyons and Brown, 2016). There are various reasons important to know inorder to determine the transfer of ownership transferred from one person to another in the course ofsale among each other:Ownership of property transferred with all the risks associated with the product as shown in thecase of product where engine of the car is not efficient enough. It is mentioned in the act as afterownership any theft or damage of the product will be borne by the buyer who owned the property ingoods.The remedy of unpaid seller paid by an individual on a fact that the property is held by an entity orpassed to someone else as last person to hold the asset will get liable for compensating the unpaidseller.After analysing the above mentioned statutory provisions on the transfer of ownership, Be isliable for further damage of engine of the car after purchasing the car or taking the ownership of theproperty in goods on their own name.1.3 Evaluate the statutory provisions on buyer’s and seller’s remedies in sale of goods contracts.Sal of goods act also talks about the remedies of both seller and buyers falls in the sale ofgoods act after transferring their property in goods by forming legal sale of contract. This actfocuses on the sale incurred by an individual by selling their product to the buyer in a particularprice after explaining all the known facts and information about the product (Dove and Bryant,2016). An individual purchases product after relying upon the facts purchases the products in orderto accomplish their desired wants and demands. There are various remedies of sellers against buyerand buyers against seller are mentioned in the act in order to maintain consistency and high level oftransparency in the act.Seller’s remedies against buyerSuit for price- Section 55 states that in the contract of sale of property in goods if buyer refuses topay the price for the product sells by an entity then the seller will file a suit against the buyers4
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