Principles of Business Law

1. Acquire an understanding of the principles of Common Law system within the student’s own legal system and how it affects their business life.
2. Acquire a knowledge of the legal environment in which businesses operate in the domestic and international market place.
3. Acquire an understanding and practical application of the principles and concepts of the system of 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 of contract.
6. Acquire an understanding and practical application of the principles and concepts of the law for the protection of the customer and final consumer.
7. Acquire an understanding and practical application of the principles and concepts of the law of employment and industrial relations.
8. Acquire an understanding and practical application of the principles and concepts of the law of tort as it applies to the world of business.

Programme Content and Learning Objectives:

After completing the programme the student should be able to:

1. Comment on the basic elements of the Common Law system and the language it uses within a domestic and international market

• sources of law - common law and equity; statutes and delegated legislation and statutory interpretation
• the differences between civil (in the Common Law sense and criminal law; comment on the differences between contract and tort

• the court system
• alternative dispute resolution
• the personnel of the law - judges, barristers, solicitors, legal executives, para - legals

• apply case law
• cite facts and ratios and where possible contrasting cases
• extrapolate from decisions into hypothetical situations

• recognition of the sole trader - definition, creation, trading position, legal liability
• a partnership - essential elements, the partnership contract, relations with the partners between themselves and to outside world, fiduciary obligations
• companies - classification of registered companies; formation, memorandum of association and articles of association, the doctrine of ultra vires and the recent changes in the law; the nature and form of company securities; the management of the company, company meetings; the regulations governing and the powers and duties of directors and shareholders

• 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 the forms
• vitiating factors, mistake and misrepresentation, undue influence; contracts in restraint of trade
• discharge of the contract
• remedies in common law and equity for breach of contract.

• 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 a transfer, delivery and acceptance of goods
• remedies
• Ioans, hire purchase and other credit and consumer credit agreements;

• agency - definition; creation
• authority of the agent; rights and duties of the principal and agent; types of agency
• termination of the agency contract

• common law
• statutory legal principles
• case law

• contract of employment - definition, nature and formation; express and implied terms, equal opportunities and discrimination and their implications, termination of an employment contract by agreement, dismissal and redundancy.
• employment tribunals and appeals

• the concept of negotiability; definition and purpose of a bill of exchange; duties and liabilities of the parties;
• cheques - crossings;
• relationship of bankers and customers; protection of bankers and customers; charge cards and credit cards