Business Law Report: Business Law Overview, Key Concepts and Analysis

This business law report provides a comprehensive overview of key legal concepts relevant to business operations. It begins by examining legal rules concerning implied terms in the sale of goods and services, statutory provisions on property transfer and possession, and buyer and seller remedies. The report then delves into credit agreements, agency law, and the rights and duties of agents. Furthermore, it explores monopolies, anti-competitive practices, and the role of competition authorities. The report also identifies differing forms of intellectual property, focusing on patent rights, copyright protection, and trademarks. Through case studies and analysis, the report applies these legal principles to real-world scenarios, offering valuable insights into business law for effective management and compliance.

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.

 If the goods has been transferred to the buyer and in that case, the buyer do not pay for
that product
 When buyer refuse to pay for the goods which are being delivered, then seller can take
action for payment.
 Seller can also take action for damage of non-acceptable goods.
 Unpaid seller remedies:
1. Right of resale
2. Right for stoppage in transit
3. Seller's Lien
Buyer remedy:
 In the case of the buyer remedy, if the seller provides the wrong goods to the buyer then
the buyer is able to remedy for the damages which is provided by the seller, same as the
case of Ben, he got damaged product and is liable to get claim.
 If the goods are not delivered at the time of the contract, in that case the buyer is able to
reject that goods which is given by the seller.
 In the case of the buyer remedy, if the goods are the damage which is provided by the
seller then the buyer has a right to claim for the damage goods (Appleman, Appleman,
and Holmes, 2015). Ben can also claim for the car as it was not per his demand.
 If the contract is the based on the compensation, in that case, the buyer has right to take
the compensation in the case of the damage goods which given by the seller at the time of
the contract (Kitagawa, 2016). Ben can also ask for the compensation for damaged car
which he got.
 If goods are not as per the mentioned quality and description, then buyer has the right to
reject or accept it as per contract and can reject other.
 If delivery of goods will not be on time then buyer can take actions for non-delivery or
late delivery.

 At the time of warranty breach, buyer cannot reject contract but seller can be asked by
buyer to give diminution or extinction of price.
1.4 Apply product liability statutory provisions for faulty goods
The faulty goods are that goods which is not harmful for the personal injuries but the
injury for the property, in that case, that are the faulty or damages goods. This provision is based
on the product liability for the faulty or damage goods. In the case of Ben, as he got faulty car
than in this case, the two people are responsible for the faulty goods. The people are: first one is
the constituent manufacturer and second one is the finished goods manufacturer. If the buyer
want to claim for the defective product, in that case he need to fulfil some term and conditions
the term and conditions can be:
The goods are defective for example Ben got car which was not in good condition
The suspect which is car manufacturer and the seller is legally responsible for supply the
defective goods
It causes losses to claimant
There are some rule in the case of the product liability. They all are given below:
Customer protection act: The customer protection act is important for the compensation of the
product because in this act, it protect the consumer product liability. As per the case of Ben,
seller provide the defective product to the Ben at the time of the contract in that case case, the
court identified that the product is defective then seller have to give the compensation for that
defective product.
Contract and Tort claims: Claimant cannot cover cost regarding replacement of defective
product. But if Ben takes an action on the basis of contract in regards with supply of product then
he can recover cost for the replacement of product if delivery of product is a breach which is
made by defendant.
Liability in the contract: The product should be liable at the time of the contract. If the seller is
not liable for the product at the time of the contract in that case the buyer can take the action
against that product which is given by the seller (Percival, Schroeder, Miller, and Leape, 2013).

TASK 2
2.1 Differentiate between types of credit agreements
If the consumer take the loan from the business for the purchasing a new product and the
buyer paid the product to the business at the period of time, in that case, it will be the consumer
credit agreement. If the business provide the loan to the consumer in that case, the business will
be the creditor. There are some type of the credit agreements (Crane, and Matten, 2016). These
are given below:
Hire purchase: It is the one type of the credit agreements. The consumer have to right to take the
loan from the creditor at the time of the purchasing product but he has no right for taking the
ownership of the that product and he can not that transfer that product to the third party because
in t6hat case, he is not the owner of that product.
Credit sale: The credit card also the type of the credit agreement. In the case of the credit sale,
the Ban has the right to take the loan from the bank and other financial institution for purchasing
the new. There are many types of the credit cards like , charge card, balance transfer card and the
store cards etc. These all are the types of the credit card.
Bank loan: There are some types of the bank loan. They can be: personal loan, ordinary loan and
the other one is the overdraft.
2.2 Apply rules, termination rights and default notices
Termination can be defined as things which are done as per the contract which means
termination of service is there. In UK, there is a law named hire purchase agreement. In such
kind of agreements, creditors are termed as goods and services owner till time when whole
amount is not paid by debtors to creditors. When there is an expiry of contract, then debtors can
purchase or return goods to creditors. Different laws are there which are in relation with legal
rules of termination like Consumer Credit Card Act 1974. Car has been purchased by Mr. Ben on
the basis of hire purchase agreement, then this condition can be regulated by this act. As per the
this act, if creditors need to terminate agreement then prior notice must be provided by him
which is termed as default notice. Such kind of notice contains, agreements description, address
of creditor and buyer, reason of breach.

There are some termination rights for Ben as the debtor who is not able to pay the debt
for the product. They are given below:
 If the demand or the situation is terminated in that case, the both parties i.e. Ben and
seller can be terminated at the time of the contract.
 In the case of the termination right, the Ben has able to made the settlement. So, it is the
termination right of Ben.
 If the goods are not provided according to the agreement in that case, the debtor can
terminate the goods (Percival, Schroeder, Miller, and Leape, 2013).
Default by the Ben:
 If the default is done by the debtor in that case, the creditor has to right to take the default
notice.
 They make termination of contract and ask for early payment
 The car possession is recovered.
 By enforcing of the security
 Ben's rights are terminated
 The creditor has to right for implementing the security for his product.
 If the default is made by the debtor in that case, the seller can take the action within the
seven days (Kitagawa, 2016).
2.3 General features of Agency and differentiate between the different types of agents
Agency is the type of the business or organisation which make the deal with the the group
of peoples. When the two people enter in the contract through their law with the third party then
in that case, it will be the agency.
There are some general features of agency. They are given below:
 In the case of the contract, the both parties(principles and third party) should be able to
enter in the contract.
 The agent is able to make the contract with the third party because the relation between
the agent and principle is not any kind of contract.

There are different type of the agent. They are given below:
Estate agent: The estate agent is that agent who make the deal on position of the owner.
Brokers: The agent is also a broker who make the deal with the intangible property.
Factors: The factors agent is also the one type of the gent who make the deal with the tangible
product.
2.4 Rights and duties of an agent
There are many rights and duties of an agent. They are:
Right of an agent
 If the contract is exit in that case, there will be the remuneration. Whenever the contract
is made between two parties then it is also possible then there will be exit in it, then it is
possible that there may be remuneration.
 If there are no contract in that case, the agent have the right for the security interest on the
property (Crane, and Matten, 2016).
 If the contract is exit in that case the agent have right to take the sensible cost. It is
mentioned in the contract that if there will be any difficulty than for this cost will be
recovered by agent.
 Right to get remuneration from owner for completing task which is assigned is being
assigned to owner regarding the delivery of goods.
 If any expense has been done by agent then that amount can be recovered from principal.
Expenses can be in relation with the delivery of goods, transportation etc.
 Right to retain things which are in relation with business on behalf of principal.
 If there is a loss of any documents, goods or property, then it can be recovered by agent.
Loss can be in relation goods which may get damage or lost in while delivery.
Duties of the agent
 The agent have a duty for not taking any kind of the profit when the contract is exit
among the principle and agent.
 The agent have to perform at the time which the contract is exit.

 In the case of the existing contract, the agent have to play an important role in the honesty
of the work (Kubasek, Brennan, and Browne, 2016).
 It is the duty of a agent to execute contract by representing principal.
 It is the duty of an agent to follow principals' instruction.
 It his duty to not to transfer his work to others.
TASK 3
3.1 Explain the monopolies and anti-competitive practice legislation
Competition is play an important role in the place of the market. The competition is very
high in that market as well as it is useful for the customers because the competition always
reduce the price of the product. In the modern time, the competition is continuously increasing in
the market.
Monopolies: In the UK market, the monopolies is one type of the threat. The monopoly firm is
that firm who have the 25 percent of share in the market. The monopolies and the merged
companies has been implemented in that case, the firm having the 25 percent control on the
market in case of the monopoly (Miller, 2015).
There are some major advantages of the competitive practice in the UK market. They are:
 The competitive market provides the low cost of the product and services because there
are the major competition in the UK competition.
 The competition is advantageous for the competitors because of the price of the product.
3.2 Role of the Competition Commission and the markets authority
There are some role of the competition in UK. They are:
 Competition commission is useful in the UK market because it regulate the law of the
competition and it identifies that the UK market follows the law of competition or not.
Regulation which is in regards with the competition must be in proper practice so that
there will be no problem.