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    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].



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


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    BrainMass Categories within Business Law

    Types of Firms

    Solutions: 7

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

    Corporate Transactions

    Solutions: 2

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

    Regulation of Financial Institutions

    Solutions: 1

    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

    Solutions: 7

    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

    Solutions: 1

    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

    Solutions: 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

    Solutions: 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

    Solutions: 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.


    BrainMass Solutions Available for Instant Download

    Federal Subject Matter Jurisdiction

    If Samuel sues Terrance and Kirk for intentional infliction of emotional distress (a state tort claim) in federal court. Samuel is a citizen of Washington State; Terrance is a citizen of Oregon and Kirk is a citizen of Oregon. Samuel alleges $75,000 in damages. Terrance moves for dismissal due to lack of subject matter jurisdic

    ATV Damages and Claims

    Phil told Joe, the sole proprietor of Joe's Pre-owned Trucks of Austin, Texas, that he was looking for a used truck that the could purchase for under $1,000. He told Joe that he needed a vehicle that he could use exclusively for towing his boat and trailer the 500 miles between his cabin and the access ramp at the water's edge.

    Form of Business: ABC Hardware

    Art, Bill and Chris agreed to start a for-profit hardware store in San Angelo, Texas called ABC Hardware Ltd. They did not file any documents with the Texas Secretary of State, but they did sign a written agreement that states, in its entirety, as follows: "We hereby agree to jointly own and operate ABC Hardware Ltd. We will

    Texas: Business Entity for a Gifted Ranch

    Kim, Jen and Dan were given a ranch just outside Kerrville, Texas. The gift included the cattle, a small stockyard, and a meat processing plant all on the ranch property. Kim, Jen and Dan each want to continue working in their other businesses, but they also want to operate the cattle raising and meat processing business. T

    Hill versus Gateway 2000

    Dear Professor, I am struggling with understanding this case having "vacated" and remanded with instructions compelling the Hills to submit their dispute to arbitration. I need a synopsis of proceedings, and although I've dug up alot of great articles (some as long as 26 pages printed), I fear I'm losing sight of the simp

    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

    Laws that Protect Consumers

    Two examples of laws designed to protect consumers are the Fair Debt Collection Practices Act and the Federal Food, Drug, and Cosmetic Act. What are your thoughts about why legislation is needed to promote fairness or safety for citizens?

    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.

    Employer Instituted Quotas

    Employer instituted quotas are: - required by Title VII and Executive Order 11246. - not required by Title VII but are permitted by Executive Order 11246. - not required by Title VII or by Executive Order 11246. - permitted by Title VII but not required by Executive Order 11246.

    Legal and Ethical Environment of Business

    How would a person make distinction judgments based ethics moral reasoning regulatory system? How rationalize differentiating judgments based underlying in tent a person negligence?

    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

    Law and Ethic

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    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

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    Legal and Regulatory Concepts in Islamic Finance

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    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

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    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

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    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

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    Law of Hire-Purchase

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    Law of Hire-Purchase

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    An Unannounced Inspection

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