BBA3210 American School of Business Questions of Business Law

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BBA3210

American School of Business

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Running head: BUSINESS LAW

1

BUSINESS LAW QUESTIONS AND CASE STUDY DISCUSSIONS
Name
Institution Affiliation
Course Code
Date

BUSINESS LAW

2
Business Law Questions

1. First of all, implied terms are basically provisions or words that are used to set default rules
for contracts. Therefore, whether they have been drafted in the contract or not, implied terms
conditionally form part of the contract, given the fact that they have not been directly or
distinctly stated in the contract. According to Yates (2013), The Sale of Goods Act has got
two implied terms which are warranties and conditions. Differentiating between these two
terms is very important. This is because, usually when someone breaches a warranty, the
contract still holds provided the affiliated parties come to an agreement once again. However,
if someone breaches an implied condition within the contract, then termination of the same is
inevitable unless the affiliated parties agree to treat the breach as a breach of warranty.
From the Sale of Goods Act, goods that are sold online are usually delivered to the customer
based on the sample size of the goods, and the description that they gave (Yates, 2013).
Therefore, this is a clear example that if the goods presented to the buyer does not meet their
description, then the sale will not proceed. There should be an agreement between the seller
and the buyer in terms of sample size and description of the product required. These are
examples of implied terms and they represent conditions. Moreover, goods that are sold must
also meet the standard procedures and this means that they should be of good quality and the
standard fitness are met. It should be free of any defectiveness and match the title given by
the customer. All these are examples of warranties. It is important to distinguish the two
because they decide whether the contract still exists or not once they are breached.
2. Oppression, dissent, and derivative action are all types of protection measures that safeguard
corporations’’ shareholders. A derivative action is basically a lawsuit that is passed across on
behalf of the shareholders to defend a claim or a legal right when there is a misconduct of a

BUSINESS LAW

3

third party. For example, when a director or a Chief Executive Officer commits fraud, the
shareholders are the ones responsible for suing them and they can do so by filing a derivative
action. The derivative action is used appropriately when there is mismanagement in the
corporation by the Directors, CEOs, third-party shareholders, or even Managers and the
shareholders feel like no one is taking into consideration that these things are happening
since they are being committed by people holding high-profile positions in the corporation.
Dissent on the other hand, according to Payne (2007), is basically a remedy or a right that the
minority shareholders have over their shares when an incident that they did not anticipate
occurs. These minority shareholders have the right to ask the corporation to have their shares
retained at the price of present market value. The dissent would prove appropriate to use
when major incidences such as when the corporation decides to sell assets or shares at a very
low price so as to liquidate cash especially when there is a crisis or otherwise happens. It will
help to save the shares of the minority shareholders.
Oppression is also a type of lawsuit that protects the shareholder when they feel like they are
being undermined or offended by a director. Oppression is would be appropriate to use when
a director breaches their administrating duties or offends a shareholder.
3. A restrictive covenant is basically a form of agreement that restricts someone from doing
something. In the case of a property, for example, a landowner can decide to place a
restrictive order on the title deed that restricts anyone from buying the land. This way, even if
a tenant tries to lease the property, they cannot go through with it since it has a restrictive
covenant. In order for such covenants to be building on subsequent landowners, it has to bear
a negative statement. I...


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