PRINCIPLES OF BUSINESS LAW - DPHU

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DiplomainBusiness AdministrationStudy ManualPRINCIPLES OF BUSINESS LAWThe Association of Business ExecutivesWilliam House 14 Worple Road Wimbledon London SW19 4DD United KingdomTel: 44(0)20 8879 1973 Fax: 44(0)20 8946 7153E-mail: info@abeuk.com www.abeuk.com

Copyright RRC Business Training Copyright under licence to ABE from RRC Business TrainingabcAll rights reservedNo part of this publication may be reproduced, stored in a retrieval system, or transmitted inany form, or by any means, electronic, electrostatic, mechanical, photocopied or otherwise,without the express permission in writing from The Association of Business Executives.

ABE Diploma in Business AdministrationStudy ManualPRINCIPLES OF BUSINESS LAWContentsStudyUnitTitleSyllabusPagei1Nature and Sources of LawNature of LawHistorical OriginsSources of LawThe European Community and UK Law: An Overview1369132Common Law, Equity and Statute LawCustomCase LawNature of EquityApplication of Principles of EquityEquity and Common LawClassification of EquityLegal and Equitable RightsNature of Statute LawInterpretation of StatutesCodification and ConsolidationAppraisal of Statute LawDelegated Legislation232526323436373839414445463The Administration of JusticeOrganisation of the CourtsAdministrative JusticePublic International LawJudges and JuriesOrganisation and Role of the Legal Profession4950616465674The Law Relating to AssociationsThe Concept of CorporationsCorporations in LawCompaniesCompanies in LawUnincorporated AssociationsPartnerships75777981869596

Contents (Continued)StudyUnitTitlePage5Contract Law 1: Fundamentals of Contracts and their CreationWhat is a Contract?The AgreementClassification of Statements and TermsConsiderationThe Intention to Create Legal RelationsCapacity to Contract1031051091161191271296Contract Law 2: Contract RegulationsPrivity of ContractJoint ObligationsAssignmentMistakeMisrepresentationUndue InfluenceVoid and Illegal Contracts1331351401411441511531577Contract Law 3: Performance and DischargePerformanceDischarge by AgreementDischarge by BreachDischarge by FrustrationRemedies for Breach of Contract1671691721741761828The Sale of Goods 1: The Contract, Property and TitleSale of GoodsDistinction between Sale and Other Supply ContractsFormation of Contract of SalePassing of PropertyTransfer of Title by Non-Owners1911931961982012139The Sale of Goods 2: Terms and ConditionsRiskFrustrationDeliveryAcceptance and PaymentStatements Relating to GoodsStatutory Implied Terms as to Description and QualityExemption Clauses217219221223227229232239

Contents (Continued)StudyUnitTitlePage10The Sales of Goods 3: Disputes and RemediesRemedies of the SellerRemedies of the BuyerSupply of Goods and Services Act 1982Role of the Commercial CourtResolution by ArbitrationRules for the Conduct of ArbitrationArbitration ProceedingsRights and Duties of ArbitratorArbitration Awards24724925725926026126326626626911Law of Agency 1: Agency Agreements and AgentsGeneral Nature of AgencyHow Agency ArisesRatificationCategories of AgentsDuties of Agents to their PrincipalsRights of Agents against PrincipalsCommercial Agents (Council Directive) Regulations 199327127327527828128429029412Law of Agency 2: Authority, Liability and TerminationAuthority of AgentsDelegation of AuthorityRights and Liabilities of Principal to Third PartiesLiability of Principal for Wrongs of AgentRelations between Agents and Third PartiesTermination of Agency29729930330430530731113Employment Law 1: The Contract of EmploymentDistinction between Independent Contractor and EmployeeOther CategoriesThe Need to Distinguish between CategoriesContract of EmploymentEqual PayOther Terms and Conditions315317320322323327329

Contents (Continued)StudyUnit14TitlePageEmployment Law 2: Termination of the Contract, Discrimination andTribunalsNoticeWritten Statement of Reasons for DismissalConstructive DismissalRedundancyUnfair DismissalEmployment TribunalsRace Relations Act 1976Sex Discrimination Acts 1975 & 1986Disability Discrimination Act 1995Health and Safety at Work Act 197433533733833833934134434735135535815Principles of Consumer CreditHire PurchaseConsumer Credit Act 1974The Consumer Credit AgreementWithdrawal and CancellationRights during the Currency of the AgreementObligations of the Creditor in relation to the Quality (etc.) of the Goods36336436437137337537816Consumer ProtectionIntroductionTrade Descriptions Act 1968Fair Trading Act 1973Consumer SafetyThe Role of Local GovernmentManufacturers and Product Liability under the Law of Tort38138238238638939339417Negotiable Instruments 1: Bills of ExchangeIntroductionCharacteristics of a Bill of ExchangeAcceptanceTransfer of Bills of ExchangeInland and Foreign BillsMethods of DischargeLiability of Parties on the BillRelease from LiabilityLiability “outside” the BillForgeriesDishonour of a BillConsequences of DishonourIncomplete Bills and 423

Contents (Continued)StudyUnit18TitleNegotiable Instruments 2: ChequesIntroductionThe Nature of a ChequeBanker/Customer RelationshipCrossing a ChequeSpecial Protection of Paying BankerSpecial Protection of Collecting BankerPromissory NotesPage427429429431434436439440

iDiploma in Business Administration – Part 2Principles of Business LawSyllabusAims1.Acquire an understanding of the principles of Common Law system within the students’ ownlegal system and how it affects their business life.2.Acquire a knowledge of the legal environment in which businesses operate in the domestic andinternational market place.3.Acquire an understanding and practical application of the principles and concepts of the systemof justice within the business community.4.Acquire an understanding of the principles and practical implications of the law of business.5.Acquire an understanding and practical application of the principles and concepts of the law ofcontract.6.Acquire an understanding and practical application of the principles and concepts of the law forthe protection of the customer and final consumer.7.Acquire an understanding and practical application of the principles and concepts of the law ofemployment and industrial relations.8.Acquire an understanding and practical application of the principles and concepts of the law oftort as it applies to the world of business.Programme Content and Learning ObjectivesAfter completing the programme, the student should be able to:1.2.3. Comment on the basic elements of the Common Law system and the language it useswithin a domestic and international market!sources of law – common law and equity; statutes and delegated legislation and statutoryinterpretation!recognise the differences between civil (in the Common Law sense) and criminal law;comment on the differences between contract and tortComment on the administration of the law!the court system!alternative dispute resolution!discuss the personnel of the law – judges, barristers, solicitors, legal executives, paralegalsComment on the application of the courts’ decisions!apply case law!able to cite facts and ratios and where possible contrasting cases!extrapolate from decisions into hypothetical situationsCopyright ABE

ii4.5.6.7.8.Comment on the law of associations; the separate legal concept and its implications forthe business and the customer and the final consumer!recognition of the sole trader – definition, creation, trading position, legal liability!a partnership – essential elements, the partnership contract, relations with the partnersbetween themselves and to outside world, fiduciary obligations!companies – classification of registered companies; formulation, memorandum ofassociation and articles of association, the doctrine of ultra vires and the recent changesin the law; the nature and form of the company securities; the management of thecompany, company meetings; the regulations governing and the powers and duties ofdirectors and shareholdersRecognise, give guidance of and discuss the rules of contract!the basic law of contract!offer – acceptance!intention to create legal relations!consideration!formality of contract!capacity!terms and conditions, conditions and warranties, exclusion clauses, the battle of theforms!vitiating factors, mistake and misrepresentation, undue influence; contracts in restraint oftrade!discharge of the contract!remedies in common law and equity for breach of contractRecognise and give evidence of Consumer Protection!special contracts – sale and supply of goods and hire purchase; definition and nature!conditions and warranties, transfer of title of goods and risks associated with such atransfer, delivery and acceptance of goods!remedies!loans, hire purchase and other credit and consumer credit agreementsRecognise and be able to discuss the law with regard to agency!agency – definition; creation!authority of the agent; rights and duties of the principal and agent; types of agency!termination of the agency contractRecognise, give evidence of, discuss and examine the principles relating to consumer law!common law!statutory legal principles!case law Copyright ABE

iii9.10.Recognise and explain the rules relating to the law of employment and industrial relations!contract of employment – definition, nature and formation; express and implied terms,equal opportunities and discrimination and their implications, termination of anemployment contract by agreement, dismissal and redundancy!employment tribunals and appealsRecognise and explain the law regarding bills of exchange!the concept of negotiability; definition and purpose of a bill of exchange; duties andliabilities of the parties!cheques – crossings!relationship of bankers and customers; protection of bankers and customers; charge cardsand credit cardsMethod of AssessmentBy written examination. The pass mark is 40%. Time allowed 3 hours.The question paper will contain:Eight questions of which five must be answered. Each question carries 20 marks.Reading List:Essential Reading!Kelly, D. and Holmes, A. (1997), Principles of Business Law, 2nd Edition; CavendishPublishing Ltd., London!Kelly, D. and Holmes, A. (1998), Questions and Answers Business Law; Cavendish PublishingLtd., LondonAdditional Reading!Ellison, J., Bedingford, J. and Hardson (1997), Business Law, 4th Edition; T, Harrison LawPublishing, BEP, Sunderland!Dobson, P. (1997), Charlesworth’s Business Law, 16th Edition; Sweet and Maxwell, London Copyright ABE

iv Copyright ABE

1Study Unit 1Nature and Sources of LawContentsA.B.C.D.PageNature of Law3Definition3Classification of Laws3Criminal and Civil Liability4The Set of Rules5Objectivity5Enforcement5Impartiality5The Rule of Law6Historical Origins6The Anglo-Saxons6The Danes6Position Before the Norman Conquest6The Normans7Curia Regis7Itinerant Judges8Court of Admiralty8The Law Merchant8Canon Law9Court of Chancery9Sources of Law9Unwritten Law10Written Law10The Pattern of English Law11European Community Law11The European Community and UK Law: An Overview13Composition of the European Community13Institutions of the European Community13(Continued over) Licensed to ABE

2Nature and Sources of LawApplication of Community Law14The European Community and Interpretation of Law15Parliamentary Sovereignty and the European Community15Single European Act 198616The Treaty on European Union 1992 (The Maastricht Treaty)18European Communities (Amendment) Act 199822 Licensed to ABE

Nature and Sources of Law3A. NATURE OF LAWDefinitionThe word “law” is difficult to define, particularly as it is used in many different ways. It contains,however, the concepts of orderliness, universality and objectivity. It is concerned with behaviour andnot with causes, and either contains an element of inevitability, e.g. scientific laws, such as the lawsof gravity, or of sanction, e.g. divine laws.Some philosophers have postulated the existence of natural law by which they mean the Law of Godwhich regulates the actions of mankind. This concept is often known as the principles of naturaljustice.In the narrower concept of law, there must be a set of rules which can be applied objectively withsomeone to enforce them.There have been many attempts to put these into a workable definition, some more successful thanothers. One of the better is that of Salmond:“Law consists of any principle which is recognised and enforced by thecourts in the administration of justice”.Another, which is possibly superior to that of Salmond, since it has a slightly wider application, isthat of James:“A body of rules for the guidance of human conduct which are imposedupon and enforced among the members of a given state”.Classification of LawsSalmond, after stating that law in its general sense includes any rule of action, says that it includesthe following categories:!Imperative LawThese are rules of action imposed on men by authority, e.g. by the state.!Physical or Scientific LawThese are rules which formulate the uniformities of nature, e.g. the law of gravitation. You candistinguish them from man-made laws, in the sense that they merely state observations on astate of affairs that already exists.!Natural or Moral LawThese are rules formulating the principles of natural justice. This conception of law is derivedfrom Greek philosophy and Roman law, and has found more favour with Continental juriststhan in English jurisprudence. It overlaps to some extent with physical or scientific law. In theEnglish language, law and justice are two separate words, showing that we recognise them tobe two separate things – a distinction that is not made in most other languages.!Conventional LawThese are rules agreed upon by persons for the regulation of their conduct towards each other.Agreements entered into by, for example, the parties to a contract or members of a company(who agree to be bound by the rules of its Articles of Association) are enforceable under the Licensed to ABE

4Nature and Sources of Lawlaw of the land. Other agr

ABE Diploma in Business Administration Study Manual PRINCIPLES OF BUSINESS LAW Contents Study Unit Title Page Syllabus i 1 Nature and Sources of Law 1 Nature of Law 3 Historical Origins 6 Sources of Law 9 The European Community and UK Law: An Overview 13 2 Common Law, Equity and Statute Law 23 Custom 25 Case Law 26 Nature of Equity 32

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