Analysis of Business Law Doc
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Added on 2020-02-12
Analysis of Business Law Doc
Added on 2020-02-12
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Analysis of legal rules of implied terms related to sale of goods ........................................11.2 Analysis of statutory provisions on transfer of property and possession..............................21.3 Statutory provisions regarding remedies available to buyer and seller.................................31.4 Product liability legal rules and statutory provisions for faulty goods.................................4TASK 2............................................................................................................................................42.1 Differentiation between different types of credit agreements...............................................42.2 Legal rules on termination rights and default notices in case of failure to pay future debts.52.3 General features of Agency and differentiation between different types of agents..............52.4 Rights and duties of agent.....................................................................................................6TASK 3............................................................................................................................................73.1 Monopolies and anti-competitive practice legislation in the UK .........................................73.2 Role of Competition Commission and Office of Fair Trading.............................................83.3 Dominant position within EU common market ...................................................................83.4 Exemptions under EU law for anti-competitive practices....................................................8TASK 4............................................................................................................................................94.1 Different forms of intellectual property rights......................................................................94.2 Principles relating to the protection of inventions................................................................94.3 Principles relating to copyright protection and their infringement.....................................104.4 Comparison and contrast between protection of trademarks and business names..............10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12..............................................................................................................................................13
INTRODUCTIONSale of Goods Act, 1979, UK is the law established to govern the activities related to thebuying and selling of goods. Sale of goods can be determined as a contract that exists in the eyesof law and formed with the purpose of exchange of goods, services or property from seller tobuyer at an agreed amount (Haselmann, Pistor and Vig, 2010). The present study highlights thelegal rules of implied terms relating to the sale of goods and supply of services and remediesavailable to buyer and seller in sale of goods contract. In UK, consumer credit is regulated by Consumer Credit Act, 1974 which seeks togovern the purchases made using credit card and provides protection when any loan or hireagreement is entered. The report provides an understanding of different types of creditagreements that can be used in the given scenario and further, an analysis of the general featuresof agency is done.The UK competition law is established so that any arrangements, agreements or businesspractices that intend to restrict, distort or prevent competition and which may impact the tradecan be prohibited. The assignment outlines and explains the anti-competitive practices andmonopolies legislation.Intellectual property law tends to prevent people from stealing and copying other's brand,copyrights, trademarks, patents and designs (Wild, Wild and Han, 2014). In this report, varioustypes of intellectual property rights and principles related to their protection are discussed.TASK 11.1 Analysis of legal rules of implied terms related to sale of goods Terms implied by sale of goods act are the terms implied in the contract and in case ofbreach of implied terms, defendant would be liable to pay damages. The implied term related tosale of goods and supply of services are explained below :Implied condition as to title : As per Section 12(1) of the Sale of Goods Act, there is animplied condition that unless circumstances shows a different intention, seller has theright to sell the goods (Sale of Goods, 2015). It was held in the case of Rowland v Divall,1923 that rejection of goods would be considered as a breach u/s 12 and buyer will beentitled for recovery of full purchase price even if he has used the goods for some time. Implied warranties as to title : Section 12(2) of the act provides implied warranty that thegoods sold by the buyer are free from any charge or encumbrance not disclosed to the1
buyer and he will enjoy quiet possession of the goods as held in the case of MicrobeadsAG v Vinhurst Road Markings Ltd, 1975.Sale by description : According to the provision of Section 13(1), there is an impliedcondition that whenever there is a contract for sale of goods by description, the goodsmust correspond with such description and this principle was laid down in the case ofBeale v Taylor, 1967 (Sale and supply of goods, 2017).Implied conditions as to fitness : These conditions are stated in Section 14 whichprovides that when the goods are sold in the course of business, there is an impliedcondition that the goods supplied under the contract are reasonably fit for the purpose forwhich they are bought.Satisfactory quality : There is an implied term in a contract of sale of goods that goodsare of satisfactory quality i.e. they meet the standards that a reasonable man wouldconsider satisfactory in relation to its price, description, fitness, safety, durability etc. From the above provisions and principles laid down in different cases, it can be concluded thatthere is a breach of implied terms by the Car Dealers as the car was not as per description, not fitfor the purpose and Ben was not satisfied with the quality. Therefore, car dealers would be liableand Ben can return the car and recover the amount from the seller.1.2 Analysis of statutory provisions on transfer of property and possessionThe property in goods is transferred from buyer to seller when the proprietary rights inthe goods and obligations i.e. ownership is transferred (Kess, Kanchana and Phusavat, 2010).The transfer of property is central to the existence of a contract of sale of goods because offollowing reasons : Ownership : The ownership of the car is acquired by the Ben and ceases to be with theCar dealers as soon as goods are transferred from seller to buyer.Risk : Risk passes with the property in the goods.Suit for price : Seller can suit the buyer only after property in goods is passed to theseller.Following statutory provisions can be applied by Ben : Section 16 : The property in the goods can be transferred only when the goods are ascertained asheld in the case of Healy v Howlett and Sons, 1917.2
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