Business Law Report on Sale of Goods, Credit, Agency, and Monopolies

This report comprehensively examines key aspects of business law, beginning with an analysis of the Sale of Goods Act 1979, including implied terms, transfer of property, and remedies for both buyers and sellers. It then delves into consumer credit agreements, differentiating various types and exploring termination rights and default notices. The report also covers agency law, defining different agent types and their rights and duties. Further, the report outlines UK monopolies and anti-competitive practices legislation, the role of the Competition Commission, and the definition of dominant positions within the EU common market. Finally, it addresses intellectual property rights, including patents, copyrights, and trademarks, along with legal rules concerning their protection and infringement. The report uses the case of Ben, who purchased a car, to illustrate the practical application of these legal principles.

BUSINESS LAW
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Table of Contents
Introduction..........................................................................................................................................3
TASK 1.................................................................................................................................................3
1.1 Analyse and advice Ben on the legal rules of implied terms relating to the sale of goods and
supply of services.............................................................................................................................3
1.2 Analyse and advice Ben on the statutory provisions on the transfer of property and
possession........................................................................................................................................4
1.3 Evaluate the statutory provisions on buyer’s and seller’s remedies in sale of goods contracts.4
1.4 Analyse and advice on product liability legal rules and statutory provisions for faulty goods
in case Ben.......................................................................................................................................5
TASK 2.................................................................................................................................................5
2.1 Differentiate between types of credit agreements which Ben as a consumer could use to buy a
car.....................................................................................................................................................5
2.2 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...................................6
2.3 Analyse the general features of Agency and differentiate between the different types of
agents...............................................................................................................................................7
2.4 Evaluate the rights and duties of an agent to assist Ben understand his position once he
becomes an agent himself................................................................................................................7
TASK 3.................................................................................................................................................8
3.1 Outline and explain the monopolies and anti-competitive practice legislation in the UK........8
3.2 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................................8
3.3 Define dominant positions within the EU common market giving examples of such
businesses.........................................................................................................................................9
3.4 consider instances when under EU law and exemptions will be made to potentially anti-
competitive practices.....................................................................................................................10
TASK 4...............................................................................................................................................10
4.1 Identify and explain the different forms of intellectual property rights...................................10
4.2 Outline the principles relating to the protection of inventions through patent rights and legal
rules preventing their infringement................................................................................................11
4.3 Describe the principles relating to copyright protection and the legal rules preventing their
infringement...................................................................................................................................11
4.4 Compare and contrast the protection of trademarks and business names giving practical
examples........................................................................................................................................11
Conclusion..........................................................................................................................................12
References..........................................................................................................................................13
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INTRODUCTION
Business 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 an
individual 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 rights
like patents, trademarks or copyrights that enhances the business performance.
TASK 1
1.1 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 Ben
describing all details about the card sols by them to Ben who loved the look of the car and agreed to
purchase the car. After purchasing car Ben went on a tour with family then he realised about the
condition of the car that its engine is not properly working. Ben he review the history and service
book of the car he came to know that thus car had two owners and the engine of this car get blocked
after running 18500 miles (Kitagawa, 2016). When Ben came to seller about rejecting the car on
grounds of wrong description of the car provided by the seller then seller defence itself on the
grounds of showing Clause 9 mentioned in the agreement signed by Ben that seller have no
responsibility for providing whatever description provided by the seller.
The current case of Ben comes under the category of Sale of Goods Act 1979 in which
implied terms included in the act in which seller mentioned each and every in the agreement which
imposes 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 or
buyer by transfers or agrees to transfers the property in goods to the buyer for something in return
or particular amount of considerations are termed as sale. The legal sale defined in the sale of goods
act falls under this act.
Section 13 attracts in the current sale of goods in which implied terms is on the description
of the product that goods should corresponds to the description given by a seller to the buyer of the
product (Dove, 2016). This section that states implied term in the act is that seller clearly mentions
in the sale of goods should not rely upon the description of the goods so that case, seller will not
hold liable.
Hence, in the current sale of goods the responsibility lies on Ben to review all the terms and
conditions whether implied or ascertained in the act should be comply by the buyer before signing
agreement of sale. So, the seller is not liable as it is Ben’s responsibility to review all the terms
before entering in to the sale agreement.
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1.2 Analyse and advice Ben on the statutory provisions on the transfer of property and possession
It is essential to know the statutory provisions regarding the transfer of property or taking
the legal possession of the property from the seller to the buyer. The transfer of property is essential
in order to fall in the sale of goods act to get certain relief and benefits of sale of goods act. The
basic advantage currently gained by Ben is to get legal help when the status of transfer of property
gets 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 the
property that is car sells y seller to the buyer that is Ben who purchased the car and taken the
ownership of the goods (Lyons and Brown, 2016). There are various reasons important to know in
order to determine the transfer of ownership transferred from one person to another in the course of
sale among each other:
Ownership of property transferred with all the risks associated with the product as shown in the
case of product where engine of the car is not efficient enough. It is mentioned in the act as after
ownership any theft or damage of the product will be borne by the buyer who owned the property in
goods.
The remedy of unpaid seller paid by an individual on a fact that the property is held by an entity or
passed to someone else as last person to hold the asset will get liable for compensating the unpaid
seller.
After analysing the above mentioned statutory provisions on the transfer of ownership, Be is
liable for further damage of engine of the car after purchasing the car or taking the ownership of the
property 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 of
goods act after transferring their property in goods by forming legal sale of contract. This act
focuses on the sale incurred by an individual by selling their product to the buyer in a particular
price 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 order
to accomplish their desired wants and demands. There are various remedies of sellers against buyer
and buyers against seller are mentioned in the act in order to maintain consistency and high level of
transparency in the act.
Seller’s remedies against buyer
Suit for price- Section 55 states that in the contract of sale of property in goods if buyer refuses to
pay the price for the product sells by an entity then the seller will file a suit against the buyers
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Damages for non-acceptance- Section 56 are concerned with the sale of goods under this act when
the seller incurred losses or heavy amount of damages when the buyer refuses to accept the product
sold by the seller. Buyer held responsible for accepting the products as they are legally bound by the
sale of contract among both of them.
Buyer’s remedies against seller
Damages for non-delivery- Section 57 attracts when seller paid by the buyer for the goods and
services purchases by buyer from the seller. This section intervenes when the seller wrongly
neglects buyer for non-delivery of goods purchased by buyer then they held liable for compensating
the loss suffered by an individual for their work will left idle for non-delivery of goods.
Remedy for breach of warranty- The breach of warranty in the sale of goods act when the act of
seller acts like a termination of the sale of contract by diminishing the current sale price of all the
goods or services purchases by an individual.
1.4 Analyse and advice on product liability legal rules and statutory provisions for faulty goods in
case Ben
Liability in tort of negligence- The negligence of seller will be borne by the buyer who
purchases the product after relying upon on the facts and description of products provided by the
seller in order to facilitate the buyer at the time of purchase. This kind of provisions attracted when
the buyer suffers injury due to the defects in the products purchased by an entity. The defects on the
product are due to the carelessness of the seller who sells the car to the Ben in the given case. Buyer
may sue the seller because of its negligence in selling wrong and defective products to the buyer
which is all about the liability in tort of negligence.
Negligence on the other hand is an important terminology used to describe the breach of
legal duty to help aggrieved party due to the injury suffered by them due to the defective product
purchased by an individual from the seller (Ostas and Hilling, 2016). The negligence incurred in the
sale of goods act on following grounds in order to prove the negligence occurred with the buyer
when they purchase goods from the seller. It is occurred when the buyer claim on the duty of care of
all the products held by them in order to generate higher returns on the same. The breach of
obligations by seller by serving wrong and defective products to the buyer in order to loose their
trust and confidence on the seller which decreases the overall need of the product.
TASK 2
2.1 Differentiate between types of credit agreements which Ben as a consumer could use to buy a
car.
Consumer credit agreements are usually formed by an individual in which buyer can take
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loan or credit from the external party in accomplishing their desired aims and the objectives as
purchasing a product of higher range is cash is not possible as every time lots of cash is not
available with an individual. In this agreement lender and borrower will agreed a specific time
period in which the total borrowed amount will be repaid legally in order to avoid legal
consequences on an individual in the near future (Dove, 2016). Consumer credit Act 1974 as
prescribed various credit methods that help an individual in getting higher finance from the external
market without being exploited for taking loan in order to buy products such as Ben purchased car
in the give case. There are various methods given below that help Ben in order to purchase a car:
Hire purchase-In this kind of method Ben can purchase car by paying down payment and take the
possession from the very beginning but the ownership of the goods will not transferred until the full
payment is made. In this system payment of car will be made in instalments according to the choice
of the buyer so, if Ben could purchase from this method then he might get safe from the liability of
loss suffered by them due to the future damages occurred in the engine of the car as in this system
owner of the car will get liable.
Bank loan- Every individual uses this common in order to take the fund from the external party in
accomplishing their desired aims and the objectives in a desired time frame decided by the owner.
In this approach loan will given by the owner to an individual on specific interest rate along with
some collateral security given in order to take the loan. The loan is given on the basis of collateral
security as this gives assurity to the bank that a person will repay the amount otherwise their
collateral security will be sold in order to generate the money.
2.2 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
It is important to know all the clauses mentioned in the act relation to the termination of
credit agreements and default takes places in the agreement formed among seller and the buyer. The
limit has been imposed on the sale of goods act related to the termination of agreement of sales and
purchase of goods in property by an individual. The credit agreements can be terminated prior to the
agreed time mutually decided by both creditor and debtor that is buyer and sellers who initiated the
selling process by creating legal sale of goods contract in order to bind both the parties in the
agreement (Orlov, 2016). It can also be done when the early settlement made by the debtor with the
creditor related to the sale of goods agreement formed among both individuals.
Termination process starts when the debtor will return the goods to the seller as they are no
more interested in the products purchased by them which show its inability in order to carry the
liability mentioned in the agreement. The provisions of the act states that when the debtors
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voluntarily terminates the agreement by showing its unwillingness towards the sale of products and
they gets liable for compensating all the losses suffered by the seller due the termination of
agreement in the initial stage after the closure of the selling agreements. The liability in the act will
imposes on the debtor to pay the outstanding amount in the contract and then return the remaining
goods in the good condition as returning goods in bad conditions is of no use for the seller.
There are various provisions mentioned in the act related with the liability on debtor due to the
default committed by them in the sale of goods agreement:
Creditor can issue notice when the agreement intentionally breached by the debtor
It can be done when debtor terminate the mid process of construction and demands repayment of
the amount
2.3 Analyse the general features of Agency and differentiate between the different types of agents.
Unique relationship exists among the principal and agent who represent the principal in the
course of action (Ostas and Hilling, 2016). There are features and characters of agency which needs
to be identified in order to form agency related rules and the regulations is given as below:
 Principal and third party must me competent to contract that means it can be adult, not
lunatic or convicted to sentence but an agent can be minor.
 There is no direct relationship among principal and agent like a normal contract as
contractual relationship and duties are exist among agent and the third party.
 Agency contracts are created by an entity in order to save time to handle outside contracts
by dealing with third parties in order to gain higher knowledge and become expert in a
particular field in the business.
There are different kinds of agents that can be appointed by an individual in order to handle
their business and enhance the existing market position of the business enterprise by attaining all
the major outcomes:
Estate agents- The real estate agents are appointed in order to sale or purchase property by
attracting customers towards the current business as this requires good communication skills in
order to attract various customers.
Trade factoring- The tangible assets of an entity are procured by appointing special employees
who will represent their owners in dealing with the external party as their main motive is to
generate higher outcome in the near future.
Brokers- It can be also determined with another name as underwriters who will help an entity in
selling their shares initially issued by an entity to attract most of the users from the external entity.
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2.4 Evaluate the rights and duties of an agent to assist Ben understand his position once he becomes
an agent himself.
Agents play a significant role in an entity for which it is important to know its rights and
duties so that they can maintain their position in the business.
Duties of agent
Fiduciary duties- Principal Handover the overall business to an agent who will conduct external
meetings in order to enhance the current business by generating higher returns which requires
honesty and fidelity of an agent to give true return of the owner without making financial frauds
(Lyons and Brown, 2016). An agent should be honest and liable towards the owner by making no
hidden profits, no conflict of interest as goods are sold in good faith and hand over the entire profit
amount to the principal.
Duty of care- Goods held in an entity should be handled with care as this will affect the overall
sales and the revenue as defective products will not be purchased by any buyer so it should be
stored in proper warehouse.
Rights of Agent
Right to continue the contract- It is one of the important right under which agent is liable to get
remuneration from their principal for giving all their services in upgrading the current business of
the principal as their main motive is to expand their business and also have right over all the
property sells by them by applying their skills.
TASK 3
3.1 Outline and explain the monopolies and anti-competitive practice legislation in the UK
European Union Law has introduced unique law such as anti-competition practices in which
selling prices and certain other provisions has developed in order to protect the interest of all the
customers from being exploited by the sellers in the market. The mentality of an individual has
changes in terms of competition that healthy competition will be created in the business
environment (Roach, 2016). The prices of all the products get lower in order to attract wide number
of customers towards all the businesses traded together.
Another economic concept of economic is monopoly in which single seller will captured the
overall market in order to maintain their dominant position in the external market. Monopolies in
the external market need to be analysed properly in order to improve business performance of an
entity in order to generate higher outcomes in the near future. It includes various factors such as
exclusive ownership, rights of monopoly and all patent rights enjoyed by an entity in order to
produce higher returns in the near future in generation of higher outcomes in business.
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3.2 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
The role of competition commission legislation in upgrading the current performance of an
entity trading in the external market. There are various objectives of competition commissions in
improving the quality of services offered by an entity to kits variety of customers are given as
below:
Prohibit agreements- These are regarded as that prohibit agreements which restrict free trade and
competition in the external market between various business entities fighting n a common platform
in order to generate higher outcomes in the near future (Lear and et.al., 2016). Cartels are formed by
the commission under which all buyers are offered unique services or products of an entity at a
determined price in order to protect the interest of all the sellers working in the same market.
Ban abusive behaviour- Any sellers who violates all the regulations or principles framed by
European Union in order to protect the interest of all the sellers in order to exist in the external
market. An entity who tries to create monopolistic position in the market which can be aggressive
for all other sellers exist in the same market can be challenging. The challenges created y a seller in
the business will be restricted in order to sell their services in the market as this would affect the
overall business performance of an entity.
3.3 Define dominant positions within the EU common market giving examples of such businesses
Monopoly in the external market maintained by business owner in order to have dominant
position in the external market that helps in generating higher revenues and the final outcome in the
near future (Sackman, Van Brunt, Rohan and Reskin, 2016). There are various ways in which
dominant position will be maintained by a business entity in the common market under the special
provisions of the European law:
Unfair purchase or selling price determines by an entity owner by violating the cartel prepared by
the officials of EU in order to regulate the overall performance of an entity.
Limiting the production in the market will created higher demands for a particular products sells by
an entity to its variety of customers in the external market. Considering all the external changes
takes places in the technology as latest technology used by an entity will helps in attracting wide
number of customers towards their business as this approach will restrict the revenues of other
business entity.
According to the provisions of the competition act 1998, which states that the trading
condition also play a significant role in the business. The specific percentage of undertaking in the
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business is essential in order to secure strong position in the market to accomplish all desired aims
and the objectives of an entity in a particular span of time.
3.4 consider instances when under EU law and exemptions will be made to potentially anti-
competitive practices.
European competition come into existence in order to remove all deficiency lies in the
external market which needs to be rectified with the passage of time. The main source of this
particular law is due to the treaty of Rome come into existence into 1957 which will be updated in
further years in order to improve the overall quality and business functions in the later years. Anti-
competitive practices are developed to improve the current performance of an entity whose skills
and capabilities suppressed by the action of its opponent in uplifting their business by getting higher
market exposure (Mitchell, O'Donnell, Marshall, S. and Ramsay, 2016). The role of an entity gets
increases by utilising global investors in the current business entity in order to enter into new and
strong economies. Various parameters are decided by EU laws and commissions to regulate all the
companies in form of legal clusters which will monitor the singular performance of an entity by
aligning their performance with each and every tasks and duties of an enterprise. Market volatility
will be checked by analysing current business performance of an entity.
TASK 4
4.1 Identify and explain the different forms of intellectual property rights
Intellectual property are that rights that protects the interest of an individual in order to
secure its intangible assets from all the intruders who can access the business system in order to
affect the overall business performance of an entity who operated their business in a external market
(Yu and Olmos, 2016). In general term the creative work of an individual are protected by using
various intellectual property rights. There are different forms of intellectual property rights to be
used by an entity in improving their overall business performance:
Patents- This particular right is allotted to the industrial process and all the inventions made by an
individual in their business which will be presented in the external market. Patent act 1977 gives
rise to all the rules and the regulations to be followed by an entity in which it gives right to an
individual for a specific time period of 20 years in order to seal their asset from external parties.
Trademarks- An individual taken trademark for various things such as name, word, slogan, design,
symbol or any kind of unique device prepared by them in order to bring innovation and creativity in
the external market are required to be protected using trademark technology. Small T will be added
after the product of an individual to ensure its safety from the external business users as an entity
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can file a case against the defaulters.
4.2 Outline the principles relating to the protection of inventions through patent rights and legal
rules preventing their infringement.
Investor has legal to right to register their process with the officials in order to get a legal
stamp that avoids further consequences in the near future. An employee in the course of
employment can register the process manufactured by them in order to improve overall quality of
an enterprise (Perry-Kessaris, 2016). All issues will get resolved with the passage of time in which
an individual get competitive advantage over its variety of rivals exists in the external market.
Infringement of intellectual property is a legal crime for which officials of the government
has introduced this particular act in which provisions are mentioned in order to protect all the
intellectual property rights of the business. It can be avoided by taking permission of users who
have ownership of the thing in order to avoid further consequences.
4.3 Describe the principles relating to copyright protection and the legal rules preventing their
infringement
The unique work of an individual are secured by using the best appropriate tools and
techniques in order to improve its current work in front of all the competitors located in the external
market as the owner of an entity can copy, adapt or present their work publicly (Hazen, Markham
and Coyle, 2016). There are two kinds of infringement included in the act:
Direct infringement- In thus kind of provision the work is only privately used and no profit will be
made by an entity.
Secondary infringement- In this particular approach it is commercially used by all individuals in
accomplishing all the goals and the objectives.
4.4 Compare and contrast the protection of trademarks and business names giving practical
examples
Trademarks act 1994 come into existence in order to secure the unique work of an enterprise
by adding Trademark after the name of the business. These legislations has taken into
considerations all the provisions in harmonising trade mark laws throughout the Europe in
enhancing the overall performance of an entity (Cho, 2016). The graphical representation is
essential in which capability of an organisatio is represented in front of the external markets in form
of pictures, words or numbers. The differentiation will be created in which efficiency of all the
resources are increases with the time.
Business name is that name of an enterprise used in trading purpose which is far different
from legal or registered name. Business name of the corporation are falls under the legal act of
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Business names Act 1985. The provisions of this act are to ensure higher uses of the company in
order to communicate easily with all the customers.
CONCLUSION
It can be concluded from the above assignment that legal assistance is required in operating
a business in tough times as this enhances all the skills of an individual in generating higher income.
This project stresses on four parts of the report which focuses on sale of goods act in providing help
to Ben. In other part it talks about the legal rules on consumer credit agreements and other part it
talks about anti-competition practices and monopolies. Last phase of the report focuses on
intellectual property rights.
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