Share
Explore BrainMass

Business Law

Also known as commercial law, this field is the legislation and adjudication of the body of laws relating to the operation, rights and responsibilities of corporations and individuals in business. It is wide-reaching and often vague in jurisdiction, sometimes blurring the lines with other significant fields of law. Generally (though one must allow for deviation by country), this set of laws cover the buying and selling of goods, distribution of products, proper compensation methods, guarantees, business taxes, consumer credit, intellectual property, bankruptcy and partnerships/joint ventures in both the public and private sectors. However, in some cases, commercial law stretches to include property, tax and employment laws too

With the emergence of the global market, it has become increasingly necessary to harmonize commercial laws across nations. In the medieval era, a system of law called the lex mercatoria[1] (‘merchant’s law’) evolved to cover inter-European trade independent of any sole reigning power and elements of that remain as an unwritten code of conduct. However, since WWII there have been a number of more modern efforts to produce a standard set of international trade laws, from the Convention on Contracts for the International Sale of Goods agreed upon by UNCITRAL in 1980 (now with over 78 countries signing on[2]) to the establishment of the World Trade Organisation in 1995[3] to the 2010 Incoterms defining business terms on a global scale[4].

Coins of various denominations. Issues of Crusaders, Seljuks of Rum, Cilician Armenia, Georgia among others.

Medieval coins of mixed origin that would have been like those traded in Europe for goods or services under conduct outlined in the lex mercatoria.

 

 

References:

1. Understanding Lex Mercatoria
2. The GATT years: from Havana to Marrakesh
3. Incoterms
4. CISG: Table of Contracting States

 

Categories within Business Law

Types of Firms

Postings: 7

Law around business organisations deals with the interactions between employees, shareholders, stakeholders, creditors, managing staff and business owners.

Corporate Transactions

Postings: 1

Legal issues discussed here will include items like transaction planning, contract drafting and review, promissory notes and electronic business transfers.

Regulation of Financial Institutions

Postings: 0

Sometimes enacted by government, sometimes not, these regulations aim to limit certain banking activities and risks to protect the security and integrity of important financial institutions and securities.

Corporate Governance and Ethics

Postings: 4

Interest in the ethics of transactions, performance of goods and services and employment has been on the rise in the past few decades and as such there is more study into both the normative and descriptive aspects of this subfield of ethics.

Bankruptcy Law

Postings: 0

Bankruptcy is the last option of an individual or corporation struggling with insolvency and has many legal restrictions and stipulations in place to ensure creditors are reimbursed as well as possible while simultaneously removing insurmountable burdens from the debtor.

Competition and Anti-Trust Law

Postings: 0

These laws are the regulations that guard against unfair monopolies and abuse of dominant market positions such as major firms concocting non-competition agreements to the detriment of consumers.

Corporate Taxation

Postings: 1

Depending on the classification of a company, they may be subjected to income or capital taxes on a number of governing levels that depend on a number of factors. Avoidance and other tax issues occur here much like any other field of tax law.

Pension Law

Postings: 0

Though specifics depend heavily on the company and sector in question, most career industries offer pensions and as such there must be laws to protect and regulate the dissension of such funds in an individual's old age.

Pay Discrimination

Assume an employee was able to make a prima facie case of pay discrimination. The burden has now shifted to the employer to prove that the pay differential was based on one of the legal factors other than sex. The specific fact scenario of the case is up to you; you may use a real life example or a fictional one. Begin your essa

Regulation of Internet-Based Commerce

Take a position in which you either defend or contest regulation of Internet-based commerce in the United States. How would you justify your position? Would your position differ relative to regulation of Internet-based commerce globally? Explain.

Affirmative actions that affect business

1. Read "Just The Facts". Review the scenario presented as it relates to the case of Taxman v. Board of Education. Although the school was concerned about diversity and took steps to ensure diversity in the business department, were the steps necessary since the amount of African American faculty in the school district exceeded

Employment Law Scenario

You are the Vice President of Operations for a large company, which occupies three floors of a building in an office park. Last week, Steve, who is in charge of the basement copy room, comes to you and tells you that his psychiatrist has diagnosed him with Anxiety NOS and that due to the adverse impact upon his health; he can

Interview Employment Law Scenario

You are the Office Manager for an advertising firm. Your firm has 10 employees, of which four are partners, four are admins for the respective partners, one is the receptionist and the last one is you. The principal partner, whose name is first on the door and who generates the most income for the firm, has had a regular turn

Auditing of Employee Compensation

You are the office manager of a small sales company. There are formally three employees with the company: the owner, the receptionist and you. The company hires part time sales reps who sign a contract stating that they are independent contractors. They are supposed to go door to door and make prepared sales pitches for people t

Legal and Regulatory Concepts in Islamic Finance

• What is the difference between law and regulation? • What is the legal definition of money in terms of property? (What about electronic money?) • Which laws affect the activities that financial institutions can undertake? • Should laws govern morality and ethics? • Can regulations be used to induce ethical behavi

Fast Food Workers & Unions

In recent weeks fast food workers, as well as employees at stores like Walmart, have been demonstrating and agitating and in some cases engaging in one-day strikes, as part of a growing campaign to get their employers to increase their hourly rate to one that is considered to be a "living wage." I have seen some comments that

Gender and Family Issues - Title VII and Other Legislations

1. Can customer preference be used to support a restaurant's decision to hire only male waiters? What must an employer demonstrate to justify using gender as a BFOQ for hiring? 2. Must an employer offer paid pregnancy leave for employees under Title VII? How do the Pregnancy Discrimination Act provisions of Title VII affec

ABC Advertising Case Study Analysis

Make sure you answer all parts of each question and provide a detailed legal analysis of your answer. Clearly state the applicable law (ie. statutes such as Title VII and/or cases such as Griggs v. Duke Power) and any assumptions. A. Ms. Riyadh is employed as an account executive with ABC Advertising ("ABC"). ABC is a nati

Public Sector Labor Relations

1. Analyze the Taylor Law and the Triborough Amendment, and then the public employee labor laws of THREE other states. 2 Compare them to New York's laws. 3. Express your opinion on whether these laws are equitable, necessary, unfair, etc. 4. Answer the question: "How will further limitations on public employee bargaining, as

Analyzing a Partnership in Business

Raju and Kamala set up a consultancy firm under the name of Expert Consultancy in June 2000. The partnership agreement clearly stated that the partnership shall remain for ten years period. In December 2010, Kamala took a personal loan amounting to RM100,000 from Bank Business, but failed to pay three installments. Kamala later

Employment Law

Under IRCA verification procedures, may an employer insist that a prospective employee with a foreign accent produce either a certificate of naturalization or an Alien Registration Card? Do you believe OSHA should consider the cost of compliance? If so, and assuming employee injuries and fatalities can be traced back directly

Employment Policies and Union Environments

Compare arbitration in a union environment with arbitration in a non-union environment. Do you think the union arbitration approach provides a fair resolution of employee grievances? Assume that you are in charge of drafting the employer's e-mail policy that intends to permit Employer monitoring of e-mail. What points would y

Cars-R-Us

Cars-R-Us (Cars) has several truck and car manufacturing plants throughout the United States. All its plants are unionized. Clem, a fervent Seventh Day Adventist, works for Cars in its plant in the Southwest. Because he lacks seniority in his job, he was assigned to the evening shift on the production line, which required him to

Law of Hire-Purchase

QUESTION 2: Karim bought a second hand Toyota Hilux from Jamin Baik Sdn Bhd. On 15 January 2012, he signed a hire-purchase agreement for the car with OUR Bank. The hire purchase agreement contained all the standard terms of a hire purchase agreement. Karim started paying the installments since February 2013. In October 2012, K

Law of Hire-Purchase

QUESTION 1: a) "In simple language, a misrepresentation is a representation that is untrue. It is a false statement made by one party to the contract to the other, before, or at the time of contracting, on which that other party relied on in contracting." Per Abdul Malik Ishak J. in Travelsight (M) Sdn Bhd & Anor v Atlas Corp

An Unannounced Inspection

SCENARIO # 1: An Unannounced Inspection The Situation: An OSHA inspector arrives at your worksite requesting to talk with you about an inspection based on the health and safety complaints of a worker. You are in your office and the OSHA inspector is at the reception office. You know this worker to be a highly disgruntled indivi

Sexual Harassment and Retaliation in the Workplace

Jane Smith complained to the human resources department that a female co-worker was touching her and making sexually inappropriate comments. The co-worker's touching and comments did not stop. Two days after the initial complaint to her employer, Smith filed an EEOC charge of discrimination. Company X tried to resolve the charg

Abortion and Ostrasization

Margo works for a religious bookstore. Seventeen years ago, in a distant state and as an unmarried juvenile, Margo had an abortion. Coworker "A" discovers this fact from a chance meeting with one of Margo's former high school classmates. Coworker "A" purposely reveals it to other coworkers, who find the fact that she had extrama

Sales Contracts rules and analysis

Please help me outline the issue, rule, analysis, and conclusion of the following case study, written under the IRAC rule. Jean, a merchant, offered to sell to Mark, also a merchant, 4 new tables and 16 new chairs for Mark's business for $10,000 for delivery on June 1st. Mark suggested to Jean that she fax him her offer, outl

Affinity Orientation and Laws That Protect Homosexuals from Discrimination

The law relating to affinity orientation is evolving and somewhat complex due in part to its exclusion from Title VII protection. What steps should a manager take to ensure that his company avoids potential claims for discrimination based on affinity orientation in light of the laws that do protect homosexuals from discriminatio

Ethical Issue - The Case of Failing to Measure Up

Seymour Kurland hired Ezold to be an associate at the law firm of Wolf, Block, Schorr, and Solis-Cohen. Kurland advised Ezold that making partner would be difficult because she was a woman who had not attended an Ivey League law school. Ezold was denied partner status. Kurland had no vote in the decision. Ezold claimed she was

Non-Conformity and Impairment of Value

If the goods or tender of delivery fail to conform to the contract, the buyer can reject the goods if the non-conformity rises to the level of substantial impairment of value. Give 2 specific examples of situations which would meet this criteria.