Tabita 3 Business Law

INTRODUCTION

TASK 1

1.1 A What rights does the customer have on her side?

Apply the legal rules on implied terms relating to the sales of goods and supply of services.

1.1B What right might the homeowners use?

Apply the legal rules on implied terms relating to the supply of services.

1.2 Can Asia demand that the fridge be given to her?

Apply the statutory provisions on the transfer of property and possession.

1.3 Which remedies do you consider the most important and why?

Evaluate the statutory provisions on buyer’s and seller’s remedies.

1.4 Will the White Warehouse have to pay for this?

Apply product liability stautory provisions.

 

TASK 2

2.1 Differentiate between a “D-C” and a “D-C-S” credit agreement so that your friend can understand the difference between these types of credit agreements.

2.2 Apply your knowledge of the legal rules on consumer credit agreements to advise Amy on the rules on termination rights and default notices in the above situation.

TASK 3

3.1 Outline the main current UK legislation on monopolies and anti-competitive practices.

UK COMPETITION LEGISLATION:

  • “Monopolies & Restrictive Practices (Inquiry & Control) Act 1948 & Monopolies & Mergers Act 1965”:

The motive of this act is to bring into existance of Competition Commission in order to bring a supremacy level in business deal inflation like, amalgamation which are concluded to be against the interest of public.

  • “Restrictive Trade Practices Act 1956 (goods) & Restrictive Practices Act 1976 (services)”:

A court is established in regard to handle the matters like administration practices of restrictive and acceptable. A consulatation should be taken from the court in order to sort out the given issues involved in the business and further according with the decision of the court action should be taken.

  • “Fair Trading Act 1973”:

The share of 25% of the market is set up by this act in order to conclude out monopoly in the market.

  • “Telecommunications Act 1984”:

This act helps in giving a proper independent recognition to the Competition Comission by involving the government for the same.

  • “Competition Act 1998”:

With this act an equivalent is created by this act accordance with the EU law. This is done to maintain a check over the competition practices.  (External enviornment – regulation of competition, n.d.)

3.2 Explain the role of the Competition and Markets Authority in dealing with monopolies and anti-competitive practices in the UK.

THE OFFICE OF FAIR TRADING

The Office of Fair Trading helps in providing a protection and promotion of the consumer interests in UK. Along with this an assurity is also given to make sure that there will be fair and competitive businesses.

The act is motivated to bring the condition of market available so that the consumers desire is fulfilled. In order to achieve the desire it is required that the market condition should be open, along with a spirit of fair competition and enthusiasm available among the people so that the customer’s custom is maintained.

COMPETITION COMMISSION

In the market a regulation body is formulated by the UK government so that the monopoly power and a merger is established over there. It is the Competition Comission which took an effort to replace the commissions like Monopolies and Mergers Commission. Along with this the division is made dividing the work accordingly, for example the department of recommendation is said to be administered by the Competition Commission. Whereas on second side it is the OFT and the government which administered the department of rules.  (Economic.help, n.d.)

3.3 Define what is meant by a “dominant position” within the common market of the EU.

3.4 Consider how any EU exemption might apply to the proposed arrangement for Belgium.

TASK 4

4.1 Identify different forms of intellectual property.

4.2 Outline the principles that you think apply in this situation relating to; the protection of inventions through patent rights; and their infringement.

4.3 Describe the principles that you think apply in this situation relating to;

Copyright protection; and

Their infringement

4.4 Prepare some text that could be used on a webpage that will enable a reader to compare and contrast the protection of trademarks and business names.

TASK 5

5.1A  Differentiate between an “exclusive” and a “non-exclusive” agent.

EXCLUSIVE AGENTS V. NON-EXCLUSIVE AGENTS:

5.1B Differentiate between a “broker” and an “agent”.

Difference between Broker and Agent:

The Brokers and Agents are considered to be a part of profession where they act as a middle man in a particular business, like real estate developer or insurance company. The duty of agents and brokers is to put efforts for the helding transactions between the consumers and the companies.

Explain The Essential Elements Of A ContractA person who gets the authorisation for bringing the transaction to a conclusion stage and this transaction is said to be held between buyer and seller, this person is called a broker. The most5 important thing is that the broker should attentively be the part of each and every transaction to be held regarding the deal involving agent as a part.

Agent on the second side plays a professional role being appointed by the broker. The basic work of agent is to administered the work of the consumer which is required to be stumbled upon in connection with some deals. Generally it is said that the agent is working for broker and because of this reason it is required that the presence of broker shopuld be there in each and every transaction conducted by the agent.

The business is said to be run with the hold of a position bythe broker. Whereas on the second side it is concluded that agents are said to be working and dealing with the connection to consumers while helding the transaction of the deals.

Further we can brief out the given below points:

  • The brokers holds the forefront position in regard with giving the necessary advice and selling to clients unlike the agents as their work is to administer various task assigned and paperwork only.
  • It is common for both the agent5s and brokers that they should posses licenses and certificates both for the business.
  • It is said they both act as a middle-man, the difference is that agent is a representation of the company whereas a broker is customer’s representative. (DifferenceBetween.com, 2014)

5.2 Write some briefing notes to yourself setting out the main rights and duties of an agent that might need to be covered in an agency agreement; and evaluate these in terms of which you think might be the most important in negotiations.

Rights of agent

  • “Right to claim remuneration”
  • “Right of retainer”
  • “Right of indemnity”
  • “Right of stoppage in transit”
  • “Right of lien”

Duties of agents:

  • “Secret profits should not be made by agents by using the principal’s reputation.
  • “All the instructions given by the principal should be followed by agent.”
  • “The transaction should always be run on behalf of company’s name by the agent.”
  • “Proper accounting records should be maintained by agent for enrolling the transactions run by him. The entire amount should be remit by agent to principal in a proper manner.”
  • “The property of principal should be safeguard by agent predominantly on the happening of certain events like insolvency of principal, death of principal, etc.”

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