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Business Laws - Consumers rights, Credit and Intellectual Property notes

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Introduction

Transfer-Encoding: chunked ´╗┐Unit 26 Business Law ________________ Table of Contents Introduction 3 Task 1 Consumers 3 1.1A Application of the legal rules on implied terms relating to the sale of goods and supply of services 3 1.1B Application of the legal rules on implied terms relating to the supply of service 3 1.2 Application of the statutory provisions on the transfer of property and possession 3 1.3 Evaluation of the statutory provisions on buyer?s and seller?s remedies 4 1.4 Application of product liability statutory provisions 4 Task 2 Consumer Credit 5 2.1 Differentiation between a ?D-C? and a ?D-C-S? credit agreement 5 2.2 Application of the knowledge of the legal rules on consumer credit agreement 5 Task 3 Competitive Practices 6 3.1 Outline the main current UK Legislation on monopolies and anti-competitive practices 6 3.2 Explain the role of the competition and the Markets authority in dealing with monopolies and anti-competitive practices in the uk 7 3.3 Define what is meant by a ?Dominant Position? within the common market of the EU 7 3.4 Consider how any EU exemption might apply to the proposed arrangement for the Belgium 7 Task 4 Intellectual Property 9 4.1 Identifying different form of intellectual property protected by this rights 9 Patents 9 Trademark 9 Copyright 9 Trade secret 9 4.2 Outline the principle applicable in the situation relating to the protection of invention through patent rights; and their infringement 10 4.3 Describe the principle applicable: 10 4.4. Compare and contrast of Trademark and Business name 10 Task 5 Agency 11 5.1A Differentiate between an exclusive and non-exclusive agent 11 5.1B Differentiate between a broker and an agent 11 5.2 Briefing Note: Rights and Duties of an Agent 12 Conclusion 12 List of References 13 Introduction The unit emphasis on very common business law regarding sales of good. Agency relationship and most common terms used in this relationship is a common topic. ...read more.

Middle

Agreements likely to be prohibited include those which: ? fix the prices to be charged for goods or services ? limit production ? carve up markets ? discriminate, eg, between customers (eg, charge different prices or impose different terms where there is no difference in what is being supplied). These agreements can be formal or informal and may include ?shared understandings?, ?concerted practices? or ?gentleman?s agreements? where businesses cooperate or act together. Identical list of agreements to which the provisions apply, namely those which: ?(a) directly or indirectly fix purchase or selling prices or any other trading conditions (b) limit or control production, markets, technical development or investment (c) share markets or sources of supply (d) apply dissimilar conditions to equivalent transactions with other trading parties, thereby placing them at a competitive disadvantage (e) make the conclusion of contracts subject to acceptance by the other parties of supplementary obligations which, by their nature or according to commercial usage, have no connection with the subject of such contracts.? One should also report businesses that abuse a dominant market position - e.g. by offering unfair prices to customers or suppliers, refusing to supply, or limiting production. Conduct may constitute an abuse if it consists of: (a) directly or indirectly imposing unfair purchase or selling prices or other unfair trading conditions (b) limiting production, markets or technical development to the prejudice of consumers (c) applying dissimilar conditions to equivalent transactions with other trading parties, thereby placing them at a competitive disadvantage (d) making the conclusion of contracts subject to acceptance by the other parties of supplementary obligations which, by their nature or according to commercial usage, have no connection with the subject of the contracts. 3.2 Explain the role of the competition and the Markets authority in dealing with monopolies and anti-competitive practices in the UK The Role of Competition and Market Authority 1. investigating mergers which could restrict competition 2. conducting market studies and investigations in markets where there may be competition and consumer problems 3. ...read more.

Conclusion

5.1B Differentiate between a broker and an agent Broker is a person that is usually representing the customer and not the company. Brokers should have certifications and must be duly licensed to perform this profession. It is his role to lay down all the cards in the table, so to speak, so that customers will be better informed. Most brokers are not working for a certain company but are working on commission basis, which allows them to carry multiple services which will benefit potential customers. Agent can be a person working as an insurance agent or a real estate agent. Usually, an agent is representing the insurance company he is working for. They process all the paperwork relating to insurance policies and claims and usually end their relationship with the client once the transaction is done. It is not the work of an agent to give you different options of which plan is better. Agents are usually working on administrative tasks and paper works unlike brokers who are at the forefront of selling and giving advice to clients. 5.2 Briefing Note: Rights and Duties of an Agent 1. Agent has right to deduct the amount which is due to him by principal, from amount payable to principal. 2. In case where agent is personally liable, he has right to stop the goods in transit. The good may be moving towards customer or principal. 3. As per the terms of agency contract, agent has rights to claim remuneration. 4. Agent should follow the instructions given by the principal. 5. If agent comes across any complicated situation, he has to communicate that situation to principal and his advice is to be obtained. Conclusion The assignment required wider study in theory and case study to have a clear idea on such law issues. It was not quite easy to complete the assignment. However the topics covered here are most common in day to day business work. Definitely this learning will enable to apply in real life issues. ...read more.

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