Business Law Report: UK Business Law, Contracts and Agreements

This report delves into the core principles of UK business law, examining key aspects such as legal rules concerning the sale of goods and supply of services, statutory provisions for property transfer and possession, and buyer and seller remedies. The analysis extends to product liability, different types of credit agreements, and the associated rules, termination rights, and default notices. Furthermore, the report explores the roles and responsibilities of various types of agents, including their rights and duties. It also covers monopolies and anti-competitive practices legislation in the UK, the role of the Competition Commission, and the application of EU exemptions. Finally, the report addresses different forms of intellectual property, the protection of inventions through patent rights, and the comparison of trademarks and business names, providing a comprehensive overview of the legal framework governing business operations. The report uses a case study of a car purchase to illustrate the application of legal principles.

Business Law
1

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1.1 Legal rules and implied terms to sale of goods and supply of services.................................3
1.2 Statutory provisions on transfer of property and possession.................................................4
1.3 Statutory provisions on buyer's and seller's remedies............................................................5
1.4 Product liability statutory provisions.....................................................................................5
TASK 2............................................................................................................................................6
2.1 Various types of credit agreements........................................................................................6
2.2 Rules, termination rights and default notices.........................................................................7
2.3 Different types of agent.........................................................................................................8
2.4 Rights and duties of an agent.................................................................................................9
TASK 3............................................................................................................................................9
3.1 Monopolies and anti-competitive practice legislation in UK................................................9
3.2 Competition Commission within monopolies and anti-competitive practices and UK office
of fair trading.............................................................................................................................10
3.3 Dominant positions within EU common market.................................................................10
3.4 Application of EU exemptions to potentially anti-competitive practices............................11
TASK 4..........................................................................................................................................11
4.1 Different forms of intellectual property...............................................................................11
4.2 Protection of inventions through patent rights and their infringement................................12
4.3 Compare and contrast the protection of trademarks and business names............................12
CONCLUSION..............................................................................................................................12
REFERENCE.................................................................................................................................13
2

INTRODUCTION
Business law is governed for following rules and obligations to operating activities. It is
composition of several regulations and guidelines to take favor in case of breach any contract.
The present assignment is based on understanding various clauses and terms related to business
operations and contract basis. However, several terms and conditions are to be described through
this report to present implied and express terms. In addition to this, case study of Ben's motor car
and varieties of legal rules including statutory provisions for transfer of goods and possession on
products are to be expressed. In this regard, different credit agreements and characteristics of
agency as well several types of agents can be understood. Moreover, monopolies and anti-
competitive practice legislation in the UK. Along with this, different forms of intellectual
property rights and principles regrading copyright protection as well legal rights for trademark
and business names is to explained. Hence, students are able to understand several kinds of legal
rules and provisions for business operations and its effectiveness efficiently.
TASK 1
1.1 Legal rules and implied terms to sale of goods and supply of services
UK provision related to implied terms presents consideration of contract for transaction
of goods and concentrating on fairness of agreement. However, there are some rules and
regulations are governed by government of country that provides obligations for operating
business activities. Therefore, legacy for considering contract is determined through this process
for gaining knowledge regarding liabilities of contractor and contractee (Akintoye, Renukappa
and Lal, 2012). In accordance to this, several rules and regulations are presented through
different terms of contract such as; implied and express. In this regard, implied terms are
obtained as contract has been done between two or more parties. Similarly, liabilities on
damaging goods are also recognized under this system. In addition to this, implied terms present
that contract has done and in case of fraud, default party has to pay fine for damaging of goods.
Apart from this, there is liability of default party is presented for paying immunity and
other fine according to decided terms and conditions. In this regard, rules and obligations
governed by implied terms are followed that is helpful for taking favor of innocent party in case
3

of breaching the contract. Therefore, supplying of goods and services of any organization is
regulated by following instructions and regulations of legal rules.
As per the given case scenario, the case study of Ben is presented. Under which, Ben
purchases a second hand car without testing and taking trial of it (Bekkers, Duysters and
Verspagen, 2002). After some months, car's engine got damaged and also it does not work
effectively on hills. The agreement was made on the basis of express terms in which there was
no responsibility of contractor after selling the car. In this process, Ben tries to looking for legal
rules to be applied for taking advantage of laws' provisions. According to this case study, it is
presented that there are less chances for compensate by contractor.
1.2 Statutory provisions on transfer of property and possession
Statutory provisions for possession on goods and transfer of property are governed by
country's constitution. In this way, various rules and obligations are presented for fulfilling
promise and breaching any contract. However, legacy for making contract and following terms
and conditions to be fulfilled in case of breaking up the promise. In addition to this, statutory
provisions are obliged for possession on goods as well creating contract.
By following terms of pledge and guarantee, possession and property transaction is
obliged through governed policies according to implied and express conditions (Bowyer, 2000).
In accordance to this, statutory and legal policy in case of Ben's car case is obtained as express
terms under which there is no liability of contractor in case of damaged goods and any default in
products' quality. Moreover, in case of bad quality of engine, Ben himself is liable for the
purchased car. Thus, different acts and provisions are come under statutory provisions can be
described as follows:- Sale and agreement to sale goods:- In this case, agreement on selling property is created
that affects on transaction and possession of goods. These provision states that
transaction of product may be conditional or condition free (Campbell and Boothby,
2016). In accordance to this, selling goods provision related to statutory laws are bases
for making agreement and determining solutions in case of breaking the promise.
 Seller or buyer possession after selling goods:- There are some provisions obtained for
possession on goods for transacting goods. However, some liabilities are followed for
seller and buyer related to selling and purchasing products. Thus, after selling products,
4

both parties of contract has to follow rules and regulations for fulfilling promise and
paying fine in case of breaching the agreement.
1.3 Statutory provisions on buyer's and seller's remedies
There are several provisions made for buyer's and seller's remedies that affects legal rules
and various laws for protection of both parties who enter into a contract. In this regard, statutory
provisions are obtained for buyers and sellers remedies. However, in case of breach the contract,
there are some legislation provided by government policies that is useful for protection of goods
as well taking favor of innovative party. In addition to this, legal rules are provided for taking
care of buyers and sellers favor for rescue from fraud (Collis, 2012). Along with this,
consideration of contract with legal enforcement and different provisions are obtained for
following legislation. Apart form this, statutory provisions on making contract is obliged to
reducing risk of breaking promise.
In this process, several remedies are obtained for effective buyer and seller remedies.
Statutory provisions for following rules and regulations related to transaction of goods and
services. Statutory and legal provisions are useful for creating agreement with legal enforcement
and taking advantage of government support for remedies related to transaction of goods.
However, various policies and legislation are followed for taking favor of innocent party. Buyers
and sellers enter into any legal agreement with proof and provision by following systems of
different sections described in government policies. Thus, various statutory provisions are
presented through legal rules and regulations that is helpful for fulfilling any promise with signed
and guaranteed things. In this regard, various tools and laws are presented for protection of
contract parties as well varieties of substances (Cornish, 2012).
1.4 Product liability statutory provisions
For effectiveness of business organization and carrying on entity efficiently, various
provisions are created for product qualities. Including this, through legal laws, a restrict contract
is made for agreement to provide healthy and secured goods to customers. However, it is liability
of seller and business organization to produce goods and services in respect of consumer
protection. In addition to this, by transacting goods on the basis of pledge, guarantee and
warranted as well further considering possession in case of this legislation (DiMatteo, 2012).
However, in case of fraud and damaging of goods after selling them are considered in statutory
5

provisions. Therefore, product liabilities and several rules are obtained for in provisions that are
related to fulfilling promise and paying fine in situation of back out. Thus, through different
terms of contract, various categories of provisions are presented for contracting. Moreover,
statutory provisions for fulfilling promise and paying immunity towards breaking up the promise
is determined. In this process, after selling of goods, liabilities are created for damaging goods
under implied terms. Therefore, in case of this term, it is considered that contract has been
created between two parties and both parties are liable for presenting their role as per given in
the business laws. Along with this, it is necessary for both contract parties to focusing on their
own rights and account abilities. In this way, it is identified that agreement with legal
enforcement is able to fulfill the promise and taking case in favor of innocent party against fraud
and default.
Statutory provisions related to legacy as well rules and obligations are related to signing
on agreement form both parties. However, it provides different instructions and obligations for
business laws including commencement, operating business activities and winding up
organization. Therefore, different rules and regulations related to rights and responsibilities of
contract parties are interrelated with each other for effectiveness of legislation (Goldman, 2013).
In addition to this, legal laws and protection of contract is done through consideration. By using
different terms as guarantee, pledge and protective conditions, both sides of contract parties get
safe towards fraud and cheat. Hence, product possession and liabilities are done with trusting
business laws that is useful for securing contract parties in case of breaking up the promise.
TASK 2
2.1 Various types of credit agreements
Credit agreement is considered as promise for granting loan and contracting between
borrower who takes loan and borrower who grants loan facility in case of credit guarantees.
There are several kinds of credit agreements are created that are useful for granting loans and
following terms effectively. In accordance to this, different credit agreements can be described as
below:-
 Hire purchase:- On the basis of determined terms and conditions, loan is granted in
exchange of securing any goods for a certain time (Klass, 2010). Therefore, possession
on products is obtained through this hire purchase that is interrelated with provision of
6

following rules and regulations for possession and exchanging goods. In addition to this,
in case of not returning goods at fixed time, another party ca sue on defaulter as well
consideration of contract is created in this process.
 Bank loan:- For taking loan form financial institution as bank, there are several legal
obligations obtained. Under this system, rules and regulations presented under banking
laws are followed that are needed to be followed for effectiveness of loan facilities (Lee,
2001). Moreover, granting loan is determined through this service that is interrelated with
various substances as well creating agreement for credit. Including this, credit in banking
filed includes overdraft, call rate, MSF and varieties of loans are taken for short and long
time period. Therefore, bank loan is one of the great tool of credit agreement that is
interrelated with rules and regulations to be followed on for fulfilling promise legally.
 Personal loan:- By taking loan from any financial non-banking institution as well other
entity comes under credit agreement. Through this process system, credit is granted for
certain time period that is effective for borrower and creditor. However, creditor provides
loan facilities to borrower on certain rules and regulations. In accordance to this, interest
is charged by following legal policies related to credit agreement (Magid, Cox and Cox,
2006). Thus, for taking personal loan to operate business activities, it is necessary for
creditor and borrower to follow obligations. However, in case of breach the contract as
not fulfilling liabilities, default party has to pay fine and case is analyzed in favor of
innocent party.
2.2 Rules, termination rights and default notices
As per given case scenario, it is analyzed that Ben purchases car without taking its trial
and checking out. Including this, the contract parties enter into agreement through express terms
for which there is no liability of seller after selling the goods. Further, Ben is looking for legal
rules to be concentrated against default party. But, under express terms, there is no responsibility
of car seller after selling the product. Thus, no rule can be followed in case of this situation for
following legal obligations. In addition to this, there are several rules, termination rights and
default notices are obtained for taking case in favor of innocent party (Michaels, 2009).
Rules:- Some laws related to contract that is useful for both parties who entered into an
enforcement agreement. In addition to this, rules are composition of provision for legacy and
7

taking advantage of legal obligations. However, it is required for contract parties to be followed
all rules and regulations that are made during entering into contract related to commencement,
operating business activities and winding up of the entity strictly. However, through following
all of these rules, promise is considered to be fulfilled as well handling the situation of backing
out of the promise.
Rights:- For entering and fulfilling any contract, it is legal right of both parties of any
contract to following rules of agreement. Each and every individual business entity and customer
has right to take advantage of business laws. In this regard, in case of breach the contract
innocent party ca sue on default party for fraud (Miller, 2012). However, various rights are
obtained for making decisions and following obligations of contract. In accordance to this,
several rules are followed for legislation and protection for all consumers. Moreover, fraud case
between two business entities can also be solved out by concentrating on rights of individual.
Default notice:- In case of breach the promise, innocent party can give notice to
protection court against default party. In this party, a notice is given to protection court for rescue
form cheat and free from faults. However, this helps both parties of contract for protection
towards fraud.
2.3 Different types of agent
Agents play role of consideration between two parties who enter into contract. There are
different kinds of agents obtained that are useful for concentrating on both parties activities.
However, an agent works for building up trust of contractual parties. In this regard, different
types of agents can be understood as below:-
 Estate agent:- This kind of agent are work for consideration of both parties related to
transaction of fixed assets. In accordance to this, dealing for business operations are done
in presence of agent. In addition to this, estate agent builds trust of both parties as well
agreement is made in the presence of him (Oladokun and Aluko, 2014).
 Brokers:- Agents work as broker for customer welfare related to banking sector such as
for providing loan. In this process, agent plays important role for granting loan to
consumer efficiently. In addition to this, brokers also plays crucial role for purchasing
apartments and any asset required for any protection in case of lieu.
8

 Partners:- Role of agent in partnership terms as partners. In addition to this, partners of
entity are agents that are useful for fulfilling any contract (Palmer, 2014). In case of
breach the contract, only partners are liable for paying fine and sharing profits according
to terms and conditions.
2.4 Rights and duties of an agent
An agent as mediator plays important role for building up trust of two parties who enters
into contract. However, he has some rights and duties that are related to rescue from fraud as
well binding contract parties for fulfilling the promise. In addition to this, there are several rights
and duties are obliged for an agent to be followed such as:-
 Being trust worthy for both parties who enters into contract.
 Taking favor of innocent party in case of breaching the contract.
 Fair arguments and focusing on contract parties' activities
 Liable for rescue from breaking up the agreements
 Follower of all rules and regulations provided in business laws.
TASK 3
3.1 Monopolies and anti-competitive practice legislation in UK
Monopolies and anti-competitive practices are market structural frameworks that are
interrelated with facing competition and selling goods (Said, 2010). However, under monopolies,
it is determined that a single supplier is obtained in this market structure that supplies goods in
respect of selling goods. In this regard, single supplier decides price of goods as well. There is
less competition occur because of less number of competitors for supplying similar items. In this
regard, monopoly market structure is related to making decisions and supplying goods.
Moreover, monopolies follow legislation related to make place in market and facing competition
by providing quality services of products.
On the other hand, through anti-competitive practice, there is quite high competition is
occurred in market. Therefore, several number of buyers and sellers are obtained for following
legislation through providing healthy goods and services to various customers. In this regard, cut
throat competition is presented under this market structure is related with facing competition and
attracting customers for demanding related to property's transaction and possession on it.
9

Therefore, both monopolies and anti-competition practices are different from each other that are
interlinked with competitive structures for facing competition and making place in market.
3.2 Competition Commission within monopolies and anti-competitive practices and UK office of
fair trading
For facing competition, monopolies and anti-competitive practices presents competition
commission for facing competition through making commission policies. In this regard, for
making place in fair trading, different strategies are prepared for competition. Moreover,
competition commission within monopolies and anti-competitive practices are occurred for
attracting customers. However, within both of these markets, competitions are occurred for
society's awareness and taking advantage of commission (DiMatteo, 2012). In accordance to
this, for presenting trade fair and exhibitions for supplying goods, different strategies are
prepared to attract customers and providing them healthy products. In accordance to this,
competition commission within both of these markets. In addition to this, competition
commission is obtained for both monopolies and anti-competitive practices are presented by
which fair trading is created to face competition and increasing competitive strategies. In
addition to this, companies provide commission to customers for fair trading an d attracting
towards goods of organization. Hence, providing commission is considered as efficient for
monopolies and anti-competitive markets.
3.3 Dominant positions within EU common market
Both market structures as monopolies and anti-competition are useful for enchaining
effectiveness of country. After brexit, European Union get separated therefore, various changes
occurred in business organization's performance. However, common market get influenced
through EU. In accordance to this, several ideas are created for creating innovations in business
activities and enhancing efficiencies. However, large number of entities established that are
interlinked with different sectors of nation such as employment, education, production of gods
and so on. Therefore, positions of business market impacted through EU (Klass, 2010).
However, varieties of implementations occur for society's awareness and providing healthy as
well secured goods to customers. In addition to this, EU common market and competitive
strategies get improved through this process system. Moreover, dominant positions regarding
financial and non-economic aid is obtained through this strategies that are related with facing
10

competition and increasing business and competitive strategies can be enhanced at high level.
Therefore, European Union increases its efficiencies as well presents different kinds of market
structures that is interlinked with common market.
3.4 Application of EU exemptions to potentially anti-competitive practices
European union is related to competitive strategies and practices for making positions in
anti-competition markets. However, monopolies and anti-competition practices get aid through
this systems that are linked with varieties of tools for facing competition and commission for fair
trading. In this regard, policies created by European Union are generated that consists of
different planning policies and social welfare (Bowyer, 2000). In this process, business laws and
varieties of rules and regulations are helpful for effective market structures and following
legislation for legacy. However, EU exemptions are useful for anti-competitive practices and
providing healthy goods to several countries' people. In addition to this, several ideas are craeted
for competition and incaresing potential for facing competition for effectiveness of monopolies
and anti-competitive practices. However, EU exemptions are beneficial for anti-competitive
practices to analyze own strengths aas well preparing strategies to improve business and
competitive efficiencies.
TASK 4
4.1 Different forms of intellectual property
For effectiveness and of entity as well sustaining its good existence, policies are
governed through trademark, copyright, patent, franchise and so on. Therefore, business
uniqueness and proper existence is created by using all of these substances. However, these are
considered as intellectual property that are linked with sustainability and protection of
organization. Therefore, by using intellectual properties, various tools are obtained for setting up
business entity efficiently (Collis, 2012). In this regard, various tools and elements are obtained
through these tools that are useful for protection of business entity. In this regard, intellectual
property is protected as business entity is get secured through this system. In addition to this,
these are several intellectual properties of business entity that is related with efficiencies and
sustaining effectiveness of organization at high level. However, different forms of intellectual
property is along with sustainability and creating uniqueness of business entity for certain time
and attracting customers through quality services effectively.
11

4.2 Protection of inventions through patent rights and their infringement
Protection of business entity is done through patent on products and entity for a certain
time. In addition to this, protection towards trademarks and business name is stained through this
process that is interlinked with sustainability of firm (Collis, 2012). Thus, protection of business
and its product services is created through creating trademark and putting business name
uniquely.
4.3 Compare and contrast the protection of trademarks and business names
Trademark is considered as tool that presents uniqueness of any entity including slogan,
title,, code and different tools that are related to creating differences of business entity's
performance. In addition to this, for protecting uniqueness of business entity, trademark is
created for sustaining organization and its efficiencies. While, on the other side, business name
consists of name and quality product that is related to creating sustainability as well business
names and guaranteed (Goldman, 2013). However, for certain time, patent and copyright is
obtained for business organization's effectiveness.
CONCLUSION
The report is concluded that business law is related to following rules and regulations for
orating business activities and carrying on entity efficiently. However, different laws, legislation
and obligations are presented that are useful for contract's effectiveness. In this regard, agent
role and its significance is obtained that affects contractual terms. In addition to this, different
kinds of credit agreements are understood for effective enforceable agreement. Moreover,
monopolies and anti-competition market structures are determined for facing competition and
providing healthy and secured goods to customers to achieve social awareness as well building
up their trust regarding goods and services provided by competitive entities. In addition to this,
protection of inventions through patents rights are considered through this assignment.
12

REFERENCE
Books and Journals
Akintoye, A., Renukappa, S. and Lal, H., 2012. The abolition of the “contracts in writing” rule in
the 2009 Construction Act: Potential implications for UK adjudication. International Journal
of Law in the Built Environment. 4(2). pp.140–156.
Bekkers, R., Duysters, G. and Verspagen, B., 2002. Intellectual property rights, strategic
technology agreements and market structure: The case of GSM. Research Policy. 31(7).pp.
1141-1161.
Bowyer, M. L., 2000. Insurance contract law and regulation and competition in the UK insurance
industry: The missing link. Journal of Financial Regulation and Compliance. 8(2). pp.140 –
150.
Campbell, E. and Boothby, C., 2016. University law clinics as alternative business structures:
more questions than answers? Edited by Francis King.The Law Teacher. 50(1). pp.132-137.
Collis, J., 2012. Determinants of voluntary audit and voluntary full accounts in micro-and non-
micro small companies in the UK. Accounting and Business Research. 42(4). pp.441-468.
Cornish, G., 2012. Dictionary of Intellectual Property Law. Reference Reviews. 26(2). pp.13 –
14.
DiMatteo, A. L., 2012. Common European Sales Law: A critique of its rationales, functions, and
unanswered questions. Journal of International Trade Law and Policy. 11(3). pp.222-240.
Dimatteo, L.A., 2016. International Business Law and the Legal Environment. Routledge.
Goldman, A., 2013. Business law: Principles and Practices. Cengage.
Klass, G., 2010. Contract Law in the USA. Kluwer Law International.
Lee, R., 2001. Negligence. Property management. 19(5).
Magid, J. M., Cox, A. D., andd Cox, D. S. 2006. Quantifying brand image: Empirical evidence
of trademark dilution. American business law journal. 43(1). pp 1-42.
Michaels, R., 2009. Comparative Law by Numbers? Legal Origins Thesis, Doing Business
Reports, and the Silence of Traditional Comparative Law.American Journal of Comparative
Law. 57(4). pp.765-795.
Miller, R. L. R., 2012. Business Law Today: The Essentials. 10th ed. Cengage Learning.
Miller, R., 2011. Modern Principles of Business Law. Cengage.
13

Oladokun, T. T. and Aluko, T. B., 2014. Dispute resolution in corporate multi-tenanted property
management: a case study. Journal of Corporate Real Estate. 16(1). pp. 22 – 32.
Palmer, C. R., 2014. Common law environmental protection: the future of private nuisance, Part
I. International Journal of Law in the Built Environment. 6 (1/2). pp. 21 – 42.
Pratten, J. and Carlier, J., 2010. Wine sales in British public houses. International Journal of
Wine Business Research. 22(1). pp.62 – 72.
Said, M., 2010. The implementation paradox: intellectual property regulation in the Arab world.
Journal of International Trade Law and Policy. 9(3). pp.221 – 235.
So, B.K.L., 2016. Business, Law and Education for Modernity. Routledge.
Sprague, R., 2016. Editor's Corner: Publishing Impactful Scholarship.American Business Law
Journal. 53(1). pp.5-8.
14