Business Law Report: Analysis of Sales, Credit Agreements, and IPR

This business law report provides a comprehensive overview of key legal concepts relevant to business operations. The report begins by examining legal frameworks governing product and service transactions, including the Sale of Goods Act 1979 and the Consumer Rights Act 2015. It delves into statutory provisions concerning asset possession and explores buyer and seller remedies within various statutes, as well as product liabilities for faulty goods. The report also analyzes different types of credit agreements, legal rules on termination rights, and the features of agency law. Furthermore, it explores intellectual property, covering patents, copyrights, and trademarks, including their protection and infringement. The report concludes by emphasizing the essential role of legal bodies in promoting ethical business practices. It is a valuable resource for understanding the legal landscape of business transactions and intellectual property protection.

Business Law
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Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Legals laws related to transaction of product and service................................................1
1.2 Statutory provision on posting of assets and possession..................................................2
1.3 Buyers and sellers remedies as provide in various statutes..............................................3
1.4 Legal rules and product liabilities for the faulty goods....................................................3
TASK 2............................................................................................................................................4
2.1 Types of credit agreements...............................................................................................4
2.2 Legal rules on termination rights and default notices......................................................4
2.3 General features of agency and difference between various types of agents...................5
2.4 Rights and duties of agent................................................................................................6
Task 3...............................................................................................................................................6
Covered in PPT.......................................................................................................................6
TASK 4............................................................................................................................................6
4.1 Different types of intellectual properties..........................................................................6
4.2 Principles related with protection of inventions through patent rights.............................7
4.3 Principles relating to copyright protection and rules preventing their infringement........8
4.4 Comparison between protection of trademarks and business names...............................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10
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INTRODUCTION
Business law consist of various legislations, judgements given court, treaties between
nations etc. However, their main objective is to control wrongful activities from overall nation by
implementing major norms at societal place and every individual is obliged to follow them while
living their life. Every organisation, who is operating in business environment, have to follow the
rules which are present in a country (Eren, S.S and et. al., 2012). This assignment is based on a
case study of Ben in which he is engaged in credit agreement in order to buy a vehicle for
personal use. Thus, acts related with sales of goods act, remedies for resolving several
complicated situations and so on are outlining in this project. Along with this, major roles and
responsibilities of agents as well as their significant features are also covered in this report.
Furthermore, report is also throwing lights on various types of intellectual properties and laws
related which is used by designer to prevent their rights. At the end, it has been understood that
legal bodies are playing eminent role in promoting company to follow the ethical route of
success.
TASK 1
1.1 Legals laws related to transaction of product and service
In the course of business delivery of a product is an essential part. To meet the needs of
customer there are certain statues that regulates the delivery of goods and products. Acts such as
Sale of Goods Act 1979 and the Consumer Rights Act 2015 are some that regulates the
functioning of supply and delivery of goods. (Bagley, C.E., 2010). These laws are formulated
with a view of protecting customer against unfair trade practice which may help in promoting
fair business activities. Due to increase in the competition entrepreneurs do adopt such practices
which are unethical and can effect the satisfaction level of costomer.
As per section 14 sub-clause 2 of the Sale of Goods Act an implied term has been defined
,which says that the it is essential for the goods to be of satisfactory nature. It means the goods
that has been delivered should be of that quality which has been ordered by the consumer. And in
section 9 of the Consumer Rights Act sub-clause 4 such things are not included when it has been
informed to the costumer that the goods are of undesirable quality, also it is the obligation of the
consumer to check the goods before purchasing it and in the situation of sample goods it is
conspicuous that the product has been examined by the consumer before buying it. Also
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according to section 13 sub-clause 1 of the Unfair Contract Terms Act 1997, if the damage to the
goods are the reason for negligence of the purchaser then the seller is not liable for such loss.
In the given case Ben decided to purchase a new car and he went through an
advertisement and decided to buy a new model Passat 1.8 for £ 10000 only. It was functioning as
per his expectation until it freeze on the hill top. The seller refuses to take back car because there
was an exclusion clause 9 in the contract of sale. On investing it came out that the real owner of
the car was someone else and the vehicle has been used for the purpose of taxi. And, also the
speed of the car was blocked at 18,500 miles which was the reason behind the malfunctioning of
the car. (Alix Adams)
It was the duty of the seller to disclose all the information regarding the car but he
intentionally hide it and sold the vehicle to the Ben. So he has committed an act of fraud which
makes him liable to provide compensation to the consumer. This makes him party at fault and
hence strict actions can be taken against the same party.
1.2 Statutory provision on posting of assets and possession
Transfer of possessions an essential concept in the sale of goods. A sale is incomplete
until the possession has been transferred to the purchaser. A valid contract should exist for the
transfer of title. A possession is acquired either by one-sided act or two- sided act. When the
possession is transferred for a temporary period it is considered as bailment. The contract of
transfers is similar to a general contract.(Bodie, Z., Kane, A. and Marcus, A.J., 2014)
According to the given case the information regarding the ownership was not provided to
the consumer. The car was driven as a taxi and the last owner of the vehicle was its driver. Also
there were some modification that were made in the car was not told to the Ben, which
constituted to be the actual cause of malfunctioning.
As per section 21 of Sale of Goods Act 1893 sub-clause 1 the tittle of possession is
attached to the buyer until the owner does not challenge the authority of sell to sale the good. In
the give case study the possession was transferred to Ben but the real owner of the vehicle was
the taxi driver. The tittle will remain attached to him until the owner challenges the authority of
seller. This case is of fraud done by the seller by hiding the necessary information related to the
sale.(DiMatteo, L.A., 2010)
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1.3 Buyers and sellers remedies as provide in various statutes
With every damage to the goods there exists a remedy, similarly certain remedies are
being provided to the seller and buyer under Sale of Goods Act 1979. A seller is eligible for two
types of remedies, personal and real. The seller has right to sue the buyer when he refuses to
accept the goods as per section 49 of the act. Also, suit can be filed against the buyer if he fails in
paying the rate of good for which he has brought for. Under section 50 a seller can be sue a
buyer for not accepting the goods he has supplied to him (Charter v Sulvian).
Similarly, a seller is entitled to lien the goods and stop the transit of such also he can
resale it. From section 41 to 43 power to lien and to retain the possession has been provided to a
seller on the non payment of the amount of goods. Stoppage of goods in transit as per section 44
to 46 has been also provided to a seller against the buyer.(Crane, A and Matten, D., 2016)
Whereas a buyer can reject the goods if they do meet his expectations, under section 11
and 15A, on the breach of contract of sale. Also as per section 51 a seller can be sued for not
delivering the goods in proper time or fails to deliver the goods. Remedies to the damages caused
due to the breach of warranty is provided in section 53 of the act.
1.4 Legal rules and product liabilities for the faulty goods
It is a duty of seller to sell the product of satisfactory nature, that is, it should be of
reasonable quality. The seller should be responsible for the sale of faulty goods in production,
negligence, strict liability under Part I of the Consumer Protection Act 1987 and breach of
statutory duty according to Part II of the CPA 1987.
Both seller and buyer are responsible for the act done by them. It is the responsibility of
them to take due care of the products by delivering (Stennet v Hancock and Peters, 19.39). Strict
liability has been applied upon seller until he provide defence under section 4. Also it is a burden
upon the claimant to prove that any damage has been caused to him. The goods should meet the
definition of defect as mentioned under section 3 of the act.
It is a criminal offence to breach such liabilities under Part II of the Act of 1987.
secretary of the sate is also provided power to make rules in the respect of such losses to the
products. In the said case of Ben, the reason of accident was the malfunctioning of the car. It was
the responsibility of the seller to not to sell a defective product so he a criminally liable for the
act he does. The compensation shall be provided to him by the way of civil remedies.
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TASK 2
2.1 Types of credit agreements
According to given case study Ben's is involving in a credit agreements in order to
purchase vehicle for their personal use. But at the same time it has been understood that he is
facing a major problem while buying product due to having inaccurate information or data about
the goods. Along with this, seller is not paying attention due to which buyer is encountering a
most prominent issue while getting involved in a contract. (Foss, N.J and Knudsen, C. eds.,
2013)However, it is essential to get aware about the various types of credit agreements for
understanding each or every aspect of contracts in effective manner. Some of them are discussed
below:-
Small agreements Intermediate agreements Large agreements
It means if a person is
involved in a contract for a
single day or very less time
period are falls under this
category and known as micro
loans. Beside this, pawn
transaction are also consider as
small contracts.
If a person is engaged for
acquiring loan but duration is
medium such as; 1-3 years
then it is known as
intermediate agreements. For
example; transaction between
around 15000 euros to 250000
are falls under this category.
If an individual is involved in
long term loans like 10-20
years then it is known as large
agreements. Basically, amount
in this type of credit agreement
is more than 250000 euros.
For instance; mobile loans,
shopping from credit cards and
so on.
For example; vehicle finance,
personal loan henceforth.
Like; home loans, credit for
public interest or development
of infrastructure and so on.
Day to day transaction. Short or medium term of
loans.
Long term contracts.
2.2 Legal rules on termination rights and default notices
As per given scenario Ben's is facing a major problem while using the car such as;
vehicle get stopped immediately, not able to drive, speed of car is also limiting on certain meter
and so on. Moreover, as per the article in newspaper information there is a major difference
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between real data and projected one. As a result, Ben's get confused and not aware about the
actual situation of vehicle due to which he wanted to terminate this unusual contract. Thus, Ben's
have to follow some of the rules while terminating the contract such as; requisite to give prior
notice in a written form for informing the other party about expiration. However, number of
default notices are given in this case such as; arrears of notice and also financial conduct
authority (FCA) data sheet. Basically, this default notice helps Ben's in various manner such as;
identify the each or every sustains and their outcomes. As a result, it aids in assiting clients
towards corrective path by understanding the rights and duties. Additionally, Ben's can also
acquire support which is related with credit agreements at citizen Advice Bureau. (Grundfest,
J.A., 2010)(Johnson, L., 2013)
2.3 General features of agency and difference between various types of agents
Agency is all about in which an individual act on the behalf of certain principal and
represent their views and opinions in front of another party. It means, mediator is involved in two
members for transferring facts or figures in a legal way by maintaining the dignity. However,
term agency is defined in a several ways. Their main objective is to resolve conflicting situations
from two parties in corrective manner. Some of the major features of agency are described as
follows:-
 Helpful in resolving hidden issues and success obstacles.
 Act as a mediator.
 Highlight the legal terms and conditions in front of both the parties.
 Consider each or every factors while making changes.
 Agents are ensuring that there must be absence of discriminatory acts.
After analysing above features it has been understood that number of agents are identified that is
described as follows:-
 Executive agents:- They are liable for providing suggestion to professional members at
workplace while involving in a complicate situations. In fact, these agents are act as a
consultant for company by assisting towards corrective path.
 Collaborative agents:- It means where various resources are coming closer to work in a
network and plays a major role in resolving problem by taking correct measures. For
example; human and machine henceforth.
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 Contributory agents:- It means a single person is involving in every business activities
for resolving various issues occurred at workplace. For instance; grammatical corrections,
substantive discussion and so on.
 Communication agents:- They are liable for managing interaction at workplace in
effective manner by taking initiatives in each or every aspects.
 Service agents:- According to this component a person or mediator is liable for offering
low level services to individuals as well as system elements.
2.4 Rights and duties of agent
Agents are liable for overcoming the issues and problems faced by their principles in
order to gain maximum benefits by satisfying the needs of clients. However, legitimate bodies
have appointed number of legal members to resolve distinct problems and issues in a defined
time period. Thus, some of the major duties and agent are described as follows:-
Duties:-
 Duty of obedience:- It means hired person is liable for following all the legal instructions
and rules which is given by their principal.
 Duty of care:- Agents need to accomplish all the assigned task and activities by
considering necessary facts or figures. Basically, they need to take care of their principal
in suitable manner.
Rights:-
 Remuneration:- Authority to demand remuneration from principal for which a person is
working.
 Right to act:- Mediator or selected representative have the authority to act on the behalf
of a person and make decision by considering necessary facts or figures.
Task 3
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TASK 4
4.1 Different types of intellectual properties
t has been identified that intellectual property are asset to an organisation and does not
possess any physical form. It is very important for a business person to be aware of such aspects
so that he is able to preserve this creations. The major types of intellectual property for a
business organisation such as copyrights, patents and trademarks.
Copyrights have been referred to most common form of intellectual property and
examples of the same are photos, video and paintings. The creators are provided rights for their
creation and can simultaneously decide who can make use of their creative asset. However in this
segment two people can have copyrights for similar items.
Patent is identified to be a tool which eliminates unauthorised use of creation of an
individual. This is a sort of monopoly which is being offered to an individual in context of his
creation however is subjected to circumstances. The maximum tenure which is being offered to
an inventor is of 20 years and mostly offered for innovative products and measures. To avial
patent right its is essential to register an application is to be filed with national patents office of
the country.
It is referred to a symbol, sign and language which has been registered by an individual
or an organisation. It is a distinguishing feature which is to be possessed by an organisation and
attempts to create a distinct image in the minds of consumers. The signs which can be depicted
graphically can be registered with the government and exempts other from imitating the same.
There have been a single application form which can be utilised to file trademarks in several
countries. The tenure for this preservation of intellectual property ranges from 5 to 25 years and
to be applied again prior to expiry.
4.2 Principles related with protection of inventions through patent rights
Inventions is all about coming with creative products and items to establish goodwill at
marketplace. However, legal bodies are involved in framing various types of laws and orders to
protect author from fraudulent activities. Basically, number of benefits of patent users are
identified at workplace such as; capture attention of consumers, maximize the revenue, acquire
trust of clients and so on. In today's advanced world wrongful conducts are increasing day by day
due to which legislation are taking correct measures for overcoming distinct of problems and
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issues. Thus, as per the law number of rules and regulations are designed by legal bodies to
protect inventions through patent rights such as; Penalty against usage of inventions without
acquiring permission from owner; Cancellation of existing licence in case of any frauds; Legal
action might be taken if an individual is misusing the inventions.
Apart from this, patent owner have number of rights through which they can protect their
inventions from fraudulent activities as they have the authority to sue other party in case of any
wrongful conducts.
4.3 Principles relating to copyright protection and rules preventing their infringement
Copyrights is consider as legitimate right which is granted by designer of an original
work rights for its further use and distribution. Basically, these are not for limited number of time
but having some limitations. However, as per the scenario copyright owner have some of the
useful rights such as; moral as well as economic authority which means a person can do
numerous of things like; distributions etc. Along with this broadcast the information or data
across various regions. Mainly, it exist till the end of author's life and around 70 years around the
death. Thus, if copyright is get infringed then the owner of specific copyrights can solve the
problem through several remedies such as; Demand penalty charges in case of misused.
Redesign the current policies and make strict rules or regulations for controlling fraudulent
activities.
4.4 Comparison between protection of trademarks and business names
Trademarks and business names are totally two different components and different from
each other in various manner, in order to examine the the value of goods and providing the
services to the consumer. Moreover it is an asset to be different from competitors. Along with
this legal bodies are involving in designing acts for protecting both the factors from misused. It
provides an opportunity to make stand in the market. It is generally different in two ways, a sole
trader and in a partnership. A business name came be registered but the trademarks are registered
for a particular time.
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CONCLUSION
From the above report it has been summarized that laws are designed for controlling
exploitative activities which might incurred at workplace as well as prevent individuals from
various problems. Their main objective is to offer best opportunities to all the members
whomsoever are engaged in several business issues in order to resolve their problem in a
minimum time frame. Along with this, number of acts are designed by legitimate bodies such as;
employment acts, consumer protection acts, norms for protecting buyer or seller and so on. It
means, every company needs to adopt various legislation rules and regulations for running their
business entity in correct manner without involving in a wrongful conducts. Additionally, it
helps in overcoming the success barriers of an enterprise which resulted in creation of advanced
world free from crimes. However, number of rules and regulations are also designed by legal
bodies for preventing intellectual properties from getting misused by another person.
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REFERENCES
Books and Journals
Alix Adams
Bagley, C.E., 2010. What's Law Got to Do With It?: Integrating Law and Strategy. American
Business Law Journal. 47(4). pp.587-639.
Bodie, Z., Kane, A. and Marcus, A.J., 2014. Investments, 10e. McGraw-Hill Education.
Crane, A and Matten, D., 2016. Business ethics: Managing corporate citizenship and
sustainability in the age of globalization. Oxford University Press.
DiMatteo, L.A., 2010. Strategic contracting: contract law as a source of competitive advantage.
American Business Law Journal. 47(4). pp.727-794.
Eren, S.S and et. al., 2012. Caching message fragments during real-time messaging
conversations. U.S. Patent 8,255,473.
Foss, N.J and Knudsen, C. eds., 2013. Towards a competence theory of the firm (Vol. 2).
Routledge.
Grundfest, J.A., 2010. The SEC's Proposed Proxy Access Rules: Politics, Economics, and the
Law. The Business Lawyer, pp.361-394.
Johnson, L., 2013. Unsettledness Delaware Corporate Law: Business Judgment Rule, Corporate
Purpose. Del. J. Corp. L., 38, p.405.
Kinicki, A and Kreitner, R., 2012. Organizational behavior: Key concepts, skills & best
practices. McGraw-Hill Irwin.Swartz, L.B., Cole, M.T and Shelley, D.J., 2010.
Instructor satisfaction with teaching business law: Online vs. onground. International
Journal of Information and Communication Technology Education (IJICTE). 6(1),
pp.1-16.
Ye, Q and et. al., 2011. The influence of user-generated content on traveler behavior: An
empirical investigation on the effects of e-word-of-mouth to hotel online bookings.
Computers in Human Behavior. 27(2). pp.634-639.
Online
Alternative dispute resolution (ADR). 2017. Available through
<https://www.citizensadvice.org.uk/consumer/alternative-dispute-resolution/settling-
out-of-court/>.
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