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Under this research report, the understanding regarding the business law has been developed. This report is divided into certain tasks having certain scenarios. There was a person Ben who purchased a second-hand car and after that when he used it, he found many faults in that car. In this research report, different legal and the statutory provisions of sale of goods act and the other acts are discussed for the benefit of Ben. Further in this assignment the agency relationship and the differentiation among all types of agents have been analyzed. It has been discussed in this report that all types of properties whether it is tangible or intangible is protected under the business law. For securing and protecting these properties different intellectual rights are used. A power point presentation has also been made in this report to represent a case study. This report provides the information regarding the legal provisions available for seller as well as buyer.
In the case of Ben, there was a contract regarding the sale of a car having its description read by Ben. There are always some terms and conditions in any contract out of which some are expressed terms and some of them are implied. Expressed terms are those, which are discussed between the parties to the contract, implied are those, which are assumed by either of party by default (Davidson, et. al., 2015).
The implied terms of the product include following:
As per the Sale of Goods and Services Act, 1982, Unfair Contract terms Act 1977 and the Sale of Goods Act, 1979 all these implied terms provide a right to Ben regarding the claim for the damages he has faced in his case study (Jones, 2017).
There are different statutory provisions provided by the law regarding the transfer of property from seller to buyer with its possession. These statutory provisions provide different rights to the person who possesses such property. While delivering the goods or services to the buyer, it is necessary that seller should make all the arrangements for the delivery of the product. The person purchasing same product should have all the information regarding this. It is also necessary to examine the product before delivering it to the buyer such as its weight, quantity and quality etc (Morrison, 2017). It is necessary that both the parties should identify that the actual goods have been delivered without any mistake. It is the responsibility of the seller that the product is reached to the buyer in a right condition and without any damage in it. In the end, with the actual delivery of the product to the buyer, which matches his expectations too, the possession and ownership rights also get transferred to the buyer (Jones, 2017).
In the given case, Ben has all the possession and ownership right of the car as it is properly delivered to him and he can entertain all his rights related to the property. Ben is advised to use his rights related to the car and sue the other party for violating the rights related to the property.
As per the Sales of Goods Act, there are many statutory provisions made regarding the contract made between them. There are different remedies available to the sellers as well as the buyers regarding the breach of the contract. If there is any delay in the payment from the side of buyers then the seller may take legal actions binding by the contract on the buyer of such goods. From the buyers perspective, if the goods are not as per the description is given by the seller then he has a legal right to reject the goods. There are chances that the goods are not as per the expectations of the buyer then he may take action against the seller. There are cases of late delivery or mishandling of the product, and then the buyer can also take action against the failure of delivery and the damage to product (Morrison, 2017).
Seller and buyer both are benefitted under the Sale of Goods act but the more benefits are provided to the buyers. The buyer has rights to claim for the damages to the property and the seller is authorized to compensate him for the mishandling of such product. These statutory provisions are binding on the parties to the contract.
As per the Consumer Protection Act, if there is any problem with the product then it is the responsibility of the seller or the manufacturer of the product and not the buyers. In Ben’s case, there were some issues in the car because of which the car met an accident and a member of his family was injured. There is no responsibility of Ben and he can claim for the compensation from the seller of the car. If such damage results in the loss of life or injury to any person then also only seller is responsible for such mishappening. As per General Product safety act, 2005, the seller is liable towards the buyers regarding the monetary damages and the tort of negligence (Agarwal, et. al., 2018).
The seller here is responsible for the injuries suffered by the family member of Ben and the car damages also. It is necessary and the statutory provision that the product delivered by the seller should be as per the expectations of the buyer and should match to the description given by such seller. In the given case, the car was faulty and because of that the accident took place and the family member got injured. Different provisions from the different acts are applied here such as Consumer protection act, 1987 and General Product Safety Regulation 2005.
There are different types of transactions take place in market which are higher in amount. It is not possible to have these higher funds at hands so different credit facilities are provided in the market. The Consumer Credit Act, 1974 is applied in such credits availabilities and the credit rotation. There are different types of credit agreements in the market that could be used by Ben to purchase the car. For example, Credit sale, Hire purchase, Bank overdraft and conditional sale etc (Agarwal, et. al., 2018).
Credit sale is a facility that is provided to the buyer from the market in which he can later on pay the amount. Such person taking this credit facility is called debt holder. There are other methods also such as hire purchase or conditional sale under which the payments are made by the buyer in different installments and by paying the down payment. The basic difference between the Hire purchase and conditional sale is of possession. In the hire purchase system the possession is transferred just after the payment of down payment but in case of conditional sales the possession is transferred only after the full payment. Overdraft facilities are provided by the bank to its current account holders in which they can draft more amounts available in his account. Bank also provides loans on the securities and once the loan is repaid the securities are also released by the bank (Akrami, et. al., 2018).
Ben should use the method of hire purchase as it is the most suitable in his case and it is also one of the most popular methods.
Suppose, if Ben faces problems in the payment of the debts in future to the creditors then he must have to follow different provisions of Consumer Credit Act 974. As per this act, there may be situations where the creditor himself terminates the contract due to the default of the debtor and debtor may also have right to terminate the contract by using his termination rights.
Termination rights: As per the section 94 to 97 of the Consumer Credit Act, Debtor can use his termination rights against the creditor. When there is problem with the debtor in paying the further dues to the creditors, he may return the product or the property to the seller in the same situation he received and can make an earlier settlement for his dues (Nayak, 2015).
There may be chances that the debtor does not want to cancel the contract but it is the creditor who does not want to continue then she can use the right of default notice to cancel such contract.
Default Notice: If the debtor is found default in the payments of the dues then the creditor has right to cancel such contract by giving a notice of minimum seven days. In case debtor has made payment of at least one-third parts then the creditor will require a permit from the court to initiate any proceedings to cancel the contract. Here Ben can use his termination rights for canceling the contract on not being able to pay further dues (Morrison, 2017).
Agency is a body in which a principle entrusts his powers to perform certain actions and omissions to the agent. Here now the agent becomes representative of the principle in front of outsiders but the tasks performed by them binds the principal. The agency can be created whether orally or in a written form. So basically these are three factors necessary to create any agency that the principle is capable of entrusting his powers to the agents with a sound mind position, second is agency can be formed written as well as orally and the last is agent acts on behalf of the principle and the principle is bound by his tasks (Akrami, et. al., 2018).
Types of agents
There are basically two types of agents such as Special agents and General agents. The general agents represent their principal owner. The duties and responsibilities of such agents are provided on the basis of their general nature. But the Special agents generally deal in the business of a specific and special kind. The roles and responsibilities along with the rights and powers are limited in nature to be provided to these special agents. In the case of general rights the presence of principle owner does not matter but in case of special agents they need permission of agent in performing any task (Sap, et. al., 2017).
Duties of an agent
In case, Ben becomes an agent himself he must have to comply with many duties. He must have to execute all the duties assigned by his principal to him. He is responsible to maintain the connection with his principle while performing his actions. It is necessary that he performs his tasks with the due diligent and the essential care. They cannot use the confidential information of their principle for their own benefits. Hence Ben is required to perform all his duties along with a great care and confidence (Mastrolia and Ren, 2018).
Rights of an agent
Agents have right to act on behalf of their principle in their absence. They can get recovery of any lost or damaged goods and properties. He has right to charge the commission from his agent for the work performed by him.
This report outlines the anti-competitive & monopolies legislation in the UK. It also elucidates the importance of Competition Commission in context of anti-competitive practices and monopolies. It also defines the concept of dominant positions and exemptions to anti-competitive practices.
Monopoly is referred to the market condition that is characterised by the dominance of single supplier of a particular situation. In simple word, there is only one service provider in the market and customer has no option except to buy from that provider only. This happens usually when the product is distinguished and has zero substitutes. Talking about the Anti-competitive practices are those forces or business practices that can severely reduce or prevent competition in a particular market. This can have a wide variety, such as dumping, price fixing, and exclusive dealing, limit pricing, tying, resale price maintenance, refusal to deal.
The major legislations that govern the monopolies and anti-competitive practices are discussed below:-
Fair Trading Act, 1973: This act controls the ill practices the monopolistic organisations are indulged in. Several governing bodies have been developed under this act to keep a check on them (Vogenauer and Kleinheisterkamp, 2015).
Competition Act, 1998: This act control the anti-competitive practices that regulate and control the trade in the United Kingdom.
The Enterprise Act 2002: This act established a set of rules and provisions for the enterprises operating in the UK. These include the guidelines for mergers, governing bankruptcy, and insolvency.
Restrictive Trade Practices Act 1956 (Goods): This act gave the set of provisions regarding the restrictive practices that take place during the goods’ trading (Calem, et.al. 2017).
Restrictive Trade Practices Act 1976 (Services): This act gave the set of provisions regarding the restrictive practices that take place during the services’ trading.
The Competition Commission of the UK is an independent and non-departmental body that investigates markets, mergers, and regulate major enterprises in accordance with the provision given in the Competition Act 1998and the Enterprise Act 2002. Its main role of the Competition Commission is to ensure whether or not there is a healthy competition exists between the enterprises in the UK. The ultimate goal is to benefit the national economy and customers (Hannigan, 2015).
Talking about the Office of Fair Trading (OFT), it is non-government department in the UK that was established under the Fair Trading Act of 1973. The OFT governs and regulates the market in order to make thing easier for consumers. Later on, the roles of OFT are decided under the Enterprise Act of 2002. In simple words, the duties of OFT include market analysis, enforcement of competition law and safeguards the consumer against any illicit trade, merger control, advocacy, etc.
A firm is said to be in a state of dominant position when it is acting independently and is unaffected by its customers, competitors, suppliers, and end-users. Such firms is so powerful that they can set prices more than the competing firms to sell goods of low quality. As per the law governed by the EU, it is totally legal to secure a dominant position in the market. This is because the dominant position is obtained after conforming to the competition laws. Usually, a firm that secures more than 50% market share is said to be a dominant firm. These firms induce unfair conditions in the market in order to push away the competitors. If any firm is exploiting the market conditions by using certain unfair means, then under the EU competition law, this is a clear-cut abuse of the dominance power. All this comes under the anti-competitive practices (Hannigan, 2015). A few illustrations of abuse of the dominant power by the business organisations are given below.
Chapter 11 given in the Competition Act 1998 and Article 102 of Treaty on the functioning of the European Union (TFEU) is responsible to keep a check and control over the dominant firm.
Basically, there is three important legislation that controls the anti-competitive practices in the EU. The first one is the Treaty on the functioning of the European Union (TFEU), the treaty of Rome, and the Competition Act of 1998. These acts control the business agreements and market conditions and competition within the European Union. These laws control the anti-competitive practices (Ward, 2017). However, there are some exemptions provided in these laws that are discussed herein brief:
The Block exemption: That contract that aims at improvising good’s production and distribution process.
This report highlighted the anti-competitive & monopolies legislation in the UK. It also elaborated the importance of Competition Commission in context of anti-competitive practices and monopolies. Before ending on the high note, the report defined the concept of dominant positions and exemptions to anti-competitive practices.
There are various types of intellectual property rights that are discussed in this essay. It also highlights the principles regarding safeguarding the inventions through patent rights. Furthermore, the essay also explains the principles relating to copyright protection and the legalities that safeguard their infringement.
Intellectual property rights are a legal entitlement that a person gets for his/her innovations. These rights provide the inventors an exclusive authority to use his/her invention for a particular time span. The intellectual property rights are subdivided into several categories: 1) Patent, which is defined as the title that gives the creator to prevent other people from using the invention for which patent is done. It stops others from using, making, importing, or selling the invention without the consent of the creator (Ward, 2017). 2) Trademark, is a symbol by which an organisation is identified by the customers. The purpose is to make a distinctive image in the mind of the people. 3) Copyright is referred to as the rights that are given to the inventor or composer for their original work in the field of software, music, film-making, literature, artistic works, etc. This allows them to prevent any illicit use (Vogenauer and Kleinheisterkamp, 2015).
Patent prevent the unauthorized use of a product invented by a person. This is a kind of a monopoly that is granted for a particular field in a specific country. It can only be granted for 20 years but only when the inventor discloses each and every detail regarding the invention. For the creator, a patent can help in avoiding the competition, whereas for the society, a patent helps in improvising innovation process by disclosing the information regarding the invention in public (Calem, et.al. 2017). Patent infringement is all about using the patented creation without the consent of the creators on whose name the patent has been issued. The infringement of the patent in the UK is given under section 60 of the UK Patent Act of 1977.
The copyrights protection has two divisions. The first one is the moral rights that cannot be transferred and provide the inventor a right to get his/her work identified along with a right to object to any illicit or unauthorised use of the work. The second division is the economic rights that allow the creator to control the use of the invention from being copied, misused, performing in public, etc. One thing to note here is that copyright does not mean a monopoly that means two people can develop similar items provided either of them have used distinct methods. In the UK, the copyright law comes under the Copyright, Designs and Patents Act 1988.
The business name is used by an organisation in order to operate under that name and it is linked to the Australian Business number. An organisation cannot register a similar business name that has already been registered. By registering the business name, it is meant that it is valid within the country only. On the other hand, a trademark is a symbol that legally reflects the company's name and prevents others from using it illegally or trading with it. After registering a trademark, the company can make use of it across the globe. A trademark can be registered on the company's name for an initial time of ten years.
The above research report has concluded different provisions used by the buyers as well as the sellers while purchasing or selling any products. This report has provided a great knowledge of the laws related to the sale of any goods and services. This report was consisting of a case study of Mr Ben. Here it has been concluded that if there is any fault in the product and because of that there is any damage to the buyer then the seller or the manufacturer will be liable for the compensation. In this report, different types of agents such as special agents and general agents are discussed and what is the main difference between them has also been explained. Different types of credit agreements such as conditional sale, sale on credit and hire purchase etc., are explained and the best alternative has been selected for Ben.
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