UNIT 4 Task for assignemnt related to Business law
- 1. Unit 4 Assignment 3 The course tutor has asked you to present information on key business-related laws. Prepare a presentation about the key features of: • consumer law. • contract law. • law of tort. • international laws.
- 2. Consumer protection is a selection of laws that protect individual consumers against unfair selling practices for goods, services and digital content.
- 3. • Coverage of items: This Act applies to all kinds of goods, services and unfair trade practices unless there is specific exemption made by the central. • Coverage of sector: All the sector whether they are private, public or cooperative is covered under this Act.
- 4. • Compensatory nature of provisions: as it compensates the consumer for the losses. For example if the goods are found defective after testing, they should be are asked for replacement or compensation for that defect from the seller. • Group of consumer’s rights: The Act talks about promoting and protecting consumer rights.
- 5. • Effective safeguards: This law aims to promote and protect the right of consumer by providing safeguards against different types of exploitation faced by the consumers.
- 6. Contract law deals with making and enforcing agreements between parties.
- 7. • Offers in Contract Law An offer is a promise to do, or not to do something that is capable of acceptance by another person. An offer is made by an “offeror” to an “offeree”.
- 8. • Acceptance in Contract Law Acceptance of an offer forms the "agreement" - not the contract - between the parties. Acceptance in contract law must: accept an offer which remains open be on the same terms as the offer be unequivocal. be unconditional be communicated to the offeror
- 9. • Consideration in Contracts To be legally binding, a contract must be “supported by consideration”. Some value must pass from each party to the other for the agreement to become a legally binding agreement.
- 10. Capacity to Contract To form a contract, a party must have the legal capacity to do so.
- 11. The categories of legal persons which don’t have legal capacity are: bankrupts minors (less than 18 years) individuals operating under a mental disability (at common law) companies which have not yet been formed, and companies which have been dissolved
- 12. • Intention to create Legal Relations This is the last element to create a legally binding contract. The parties must intend that the offer and acceptance is legally binding upon them: that known as "contractual intention". Source: Hall Ellis Solicitors
- 13. Tort law refers to the set of laws that provides remedies to individuals who have suffered harm by the unreasonable acts of another.
- 14. • A tort is a private wrong, which infringes the legal right of an individual or specific group of individuals. • The person, who commits a tort is called a “tort-feasor” or “Wrong doer” • The place of trial is Civil Court.
- 15. • A tort is a private wrong, which infringes the legal right of an individual or specific group of individuals. • The person, who commits a tort is called a “tort-feasor” or “Wrong doer” • The place of trial is Civil Court.
- 16. • Tort litigation is compoundable i.e. the plaintiff can withdraw the suit filed by him. • A tort is a specie of civil wrong. • A tort is other than a breach of contract • The remedy in tort is unliquidated damages or other equitable relief to the injured.
- 17. International law (also known as public international law and the law of nations) is the set of rules, norms, and standards generally recognized as binding between states.
- 18. 1. Promotes friendly relations among the member states (members of the International community, for example, United Nations). 2.Provides basic humanitarian rights.
- 19. 3. Solves International problems through international cooperation. 4. Refrains the state from using threat or force over the territory of any other state to provide for the right to self- determination to people, and
- 20. 5. Uses peaceful methods to settle international disputes are few of its functions.