Business Law: Sale of Goods, Credit, Agency, Competition, & Property

This business law report provides a comprehensive analysis of several key areas of UK business law. It begins by examining the legal rules of implied terms relating to the sale of goods and supply of services, statutory provisions on the transfer of property and possession, and remedies available to buyers and sellers in sale of goods contracts. Furthermore, the report analyses product liability legal rules and statutory provisions for faulty goods. The report then differentiates between types of credit agreements, analyses termination rights and default notices, and explores the general features of agency, including the rights and duties of an agent. Finally, the report outlines monopolies and anti-competitive practice legislation in the UK, explains the role of the Competition Commission and the UK Office of Fair Trading, defines dominant positions within the EU common market, considers the application of EU exemptions to potentially anti-competitive practices, identifies differing forms of intellectual property, outlines the principles related to patent rights and copyright protection, and compares the protection of trademarks and business names. This document is available on Desklib, a platform offering AI-powered study tools and a wide range of student-contributed assignments.

Business Law
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Table of Contents
Introduction................................................................................................................................4
Task 1.........................................................................................................................................5
1.1 Analyse and advice Ben on the legal rules of implied terms relating to the sale of goods
and supply of services............................................................................................................5
1.2 Analyse and advice Ben on the statutory provisions on the transfer of property and
possession...............................................................................................................................6
1.3 Evaluate the statutory provisions on buyer’s and seller’s remedies in sale of goods
contracts.................................................................................................................................7
1.4 Analyse and advice on product liability legal rules and statutory provisions for faulty
goods......................................................................................................................................8
Task 2.........................................................................................................................................9
2.1 Differentiate between types of credit agreements which Ben could use to obtain the
new car...................................................................................................................................9
2.2 Analyse the rules on termination rights and default notices for Ben to be informed in
case she subsequently has trouble paying the debts as required in the contract..................10
2.3 Analyse the general features of Agency and differentiate between the different types of
agent.....................................................................................................................................11
2.4 Evaluate the rights and duties of an agent to assist Ben understand her position once
she becomes an Estate Agent...............................................................................................12
Task 3.......................................................................................................................................13
3.1 Outline monopolies and anti-competitive practice legislation in the UK......................13
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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............................................14
3.3 Define dominant positions within the EU common market...........................................15
3.4 Consider the application of EU exemptions to potentially anti-competitive practices. .16
Task 4.......................................................................................................................................17
4.1 Identify differing forms of intellectual property............................................................17
4.2 Outline the principles relation to the protection of invention through patent rights and
their infringement in a given business scenario...................................................................19
4.3 Describe the principles relating to copyright protection and their infringement in a
given business......................................................................................................................20
4.4 Compare and contrast the protection of trademarks and business names......................21
Conclusion................................................................................................................................23
References................................................................................................................................24
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Introduction
In the economy business law has a wide scope of application and these laws are managed
according to in accordance with the business law. In the market, context business is
controlled by some confinement and disallowances which is likely to affect the since it is
important to keep up such a great conduit for the fulfilment of client and provider
requirements. The activity of price reduction and high price charge which is beyond the
provided scope is not permitted. Services and goods we see in the market are not only
available but also governed by rules and regulations even though they not been mentioned.
The inferred terms can be defined as terms available in the accord by default. Debtors and
creditors are approved to end the sale agreement. Business law terms are extremely standard
and utilized daily in every aspect.
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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
At the point when merchandise is sold to the buyer an agreement of understanding for the
products sold is made. The merchandise sold bear obligation and commitment. The buyer and
the seller both set under duty and the law also confines them with a couple of terms. The
terms bounders by the law are called surmised terms of the understanding. The proposed
terms of the understanding are by custom. (Sharma, 2010)
Sale of Goods Act 1979 section 11 explains that the goods sold should bear a title and the
seller should have the title as well. As per section 12, the goods that are being transferred to
the buyer should not have any hinder that can cause a problem to the buyer. According to Sec
13, merchandise must be according to the depiction of the item that is given before the buy of
the products. The purchaser depends on the portrayal of the products and any disappointment
will result to break off. Sec 14 clearly states that the products must be safe for use and fit for
the intended purpose. In case of a sample, similar law of sec 15 apply. The products
according to the sample should match the description
Here, Ben is entitled to restore the vehicle to the merchant in light of the fact that the state of
the agreement isn't satisfied and purchaser can sue the vender (Thampapillai, 2015)
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1.2 Analyse and advice Ben on the statutory provisions on the transfer of property and
possession
The products sold to the merchant should not have any abnormality so that the transfer to the
owner is done without any problem in coming days. Furthermore, during the transfer, the law
requires that the products must be unascertained lest won't be traded according to sec 16 to 20
of the law.
When the transfer of goods is being done there is a possibility that the goods are not owned
by the seller. The remedy relies on the possession and ownership of the goods. The products
must be learned and not unascertained items as expressed in Healy v Howlett case. The
products will be sold with an expectation to do and the prerequisites will be satisfied to place
the goods in a delivery state. In sec 18 it is clearly spelt that the delivery of goods should be
done in accordance with the agreement specified during purchase. The goods will be
considered to be undelivered if the purchase does not acknowledge the goods (Kubasek, et.
al, 2016)
In this scenario, Ben has acquired the car and will fully own it after he has paid all instalment
and conveyance is done by the merchant in accordance with the agreement. Here, Ben
acknowledged the transfer and is the owner however in case of any default the obligation lie
on the merchant since the trade wasn’t according to the agreement.
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1.3 Evaluate the statutory provisions on buyer’s and seller’s remedies in the sale of
goods contracts
The sale agreements have some commitments that need to be satisfied and if they fail to be
met then the remedy is given in accordance with the act. Both the buyer and the seller are
given these remedies. The remedies accessible to the merchant of the agreement are under sec
41 to 50. Only a few remedies are genuine and others are individual. The seller has an option
of selling the damaged products at the price of his choice to cover the loss that occurred from
non-payment by the buyer (Clarkson, et. al, 2014)
The purchaser of the merchandise is protected by sec 12 to 15 which expresses that purchaser
is approved to rejects those products which are not according to the inferred terms of the
agreement and the purchaser can guarantee for non-conveyance if there should arise an
occurrence of which results to harm to the purchaser. According to 52 of the law, the
purchaser additionally has an ideal to particular execution for the act. The purchaser can
recuperate the cash for the merchant in the event of non-conveyance of the products
according to sec 54 of the law.
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1.4 Analyse and advice on product liability legal rules and statutory provisions for
faulty goods
As stated by law, the risk of the item is in the hands of the vendor and the manufacturer of the
merchandise since it is assumed that the default time is right from the time it was
manufactured. To proof carelessness of the producer the petitioner needs to demonstrate that
there exist the obligation of care with respect to producer and such obligation of care is
broken. According to the Consumer Protection Act, the producer of the item has a strict risk
and pulls in criminal and common obligation. The item obligation depends on the makers by
and large. The merchandise must be flawed or hazardous then the case is allowed.
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Task 2
2.1 Differentiate between types of credit agreements which Ben could use to obtain the
new car.
The credits in the market aides an individual acquire the credit in various structures. The
credit strategy was utilized to profit the sum in brief timeframe for huge speculations. The
buyer used to assume praise and reimburse after settled timeframe. The individual giving the
sum is a creditor and the individual obtaining the sum is a debtor.
Types of credit agreement in the market are as follows:
Hire purchase Credit sale Conditional sale Loans and credit
cards
The purchaser of the
item possesses the
property and the
instalment is paid in
the portions. The
merchandise can't be
traded to another
gathering until unless
the proprietorship
isn't traded.
In this strategy for
credit, the ownership
and the responsibility
for the property is
traded yet at the
season of default the
bank can rest the
property. (Kubasek,
et. al, 2016)
The contingent deal
is the sort credit
technique in which
the purchaser use to
purchase the item
toward the finish of
the agreement. The
loan boss has the
privilege to recover
the property.
The bank advance is
the given by the bank
to the as advance and
the MasterCard’s
helps the holder of
the card to engage
the administrations
ahead of time.
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2.2 Analyse the rules on termination rights and default notices for Ben to be informed in
case she subsequently has trouble paying the debts as required by the contract
The bank of the merchandise and the indebted person of the products both have the privilege
to end the agreement. Both the indebted and the lender issues the default notice as stated in
the agreement. The credit understanding of the agreement can be ended by the bank if arise
an occurrence of a default by the borrower and the indebted person needs to pay the sum with
the accumulated interest according to the law. The period as per recovery act is seven days.
According to sec 127 of the law the court is approved to choose inconsistencies of the
indebted person and permit the debtor more time to repay back.
The credit assertion can be ended by the borrower too if there should be an occurrence of
earlier settlements then the time of the agreement. As provided by sec 94 to 97 the
understandings can be ended by an indebted person as well and the account holder can restore
the products to the creditor due to powerlessness by the borrower to convey the assention of
credit. The products will be repossessed by the bank in the event of default.
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2.3 Analyse the general features of Agency and differentiate between the different types
of agent
The agent and the essential proprietor both have the association of the centre individual and
the commitments selected by the guideline to the operator must be taken properly as indicated
by the law. Both the gatherings to the understanding must be skilful to consent to the
arrangement. The consent to the arrangement the customer and the standard are guided by an
agent. The explanation behind the understanding through is to save the long method and
spare the ideal opportunity for the two gatherings (Mundey and Mundey, 2010)
The operators are of two sorts, the general agents and the operators. The general agents have
the higher master when diverged from operators. The agent works for some particular reason.
The home agents manage property which is considerable, for instance, the land and the
building. The banks are furthermore the master of agents dealing with the client. The business
operators use to oversee items and exchange the stock in light of a legitimate concern for
preeminent proprietor. The components and delegates are furthermore the general merchants
of the property.
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2.4 Evaluate the rights and duties of an agent to assist Ben understand her position once
she becomes an Estate Agent
The agent has the obligation to deal with the trade and ensure that the outcome isn't
influenced.
AGENT’S RIGHTS
• General Rule: If A acts with actual authority, entitled to:
– Compensation (as agreed or reasonable value of services unless gratuitous)
– Reimbursement of reasonable expenses actually incurred
– Indemnification of losses suffered because acting for P, if losses were not the
result of A’s breach of duty or other wrongdoing
• Consequences of Breach:
– If an agent breaches any of her duties, she will be liable for damages for any
loss caused to the P by her breach
– May be other consequences, as below
1. Duty of Obedience
An Agent has a duty to obey the P’s lawful instructions
a. No obligation to obey unlawful instructions (not just illegal instructions)
2. Duty of Diligence
An agent has the duty to use reasonable skill and care when acting for the principal
An agent has the duty to use any special skill or knowledge the agent represents
himself as having when acting for the principal
3. Duty to Inform
4. Duty to account (note difference from the text)
An agent has a duty to maintain and provide P with an account of all funds or
property received by A or expended on P’s behalf
An agent has a duty to account for and turn over to P any financial benefit A received
as a result of transactions conducted on behalf of P
5. Fiduciary duty
An agent has a duty of undivided loyalty and good faith to P
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