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Business Law Assignment

1108 words - 4 pages

IntroductionBritish law recommends to the criminal laws of the numerous authorities in the Commonwealth of Britain. These authorities include the six states, the Commonwealth, and the self-regulating territories. It is in large division an issue for the states, with only a little split of criminal activities kept for Commonwealth government to put on trial.Value disputes often concern facts particular to the target firm- such as its earnings potential or its hidden assets and liabilities. But in contemporary world the deception is very common and in everyday life every second human becomes a victim of some deceptive purchase or mislead purchase. Ideal rules of corporate law should be consistent. A rule barring deception might be expected to increase the ex ante value because customers would pay to eliminate the risk of conflict transactions at desired prices. Conversely, one could imagine that a rule permitting deception might increase the ex ante share value by facilitating control transactions. Yet, with few exceptions, issuing firms generally have not used their ability to contract for either rule. In fact, firms rarely contract around unclear rules of corporate law. In the great majority of instances, firms passively accept the default rules of corporate law, even when those rules are as inconsistent and unclear as Delaware law on deception cases (Barnett, 2004).Case to be discussedSofia Ali was a customer of a coin dealer. Once she had to buy a coin for his father who is very keen to collect the different coins. She went to a David Jones’ shop from where she bought a coin of old times. After few years when her father tried to cash that coin due to his personal need then he found that the coin which his daughter gave him as a gift is no more worthwhile. After the reality she went to David Jones for the claim but he refused to accept his wrong doing and said that he did not have any wrong intention while selling that coin.Laws implementationIn the above mentioned case we can use two legal supports to resolve these issues:Consumer protection lawNegligence lawConsumer protection lawThis law states that it is a seller responsibility to protect the consumer rights and to sell him or her right thing at right prices. To bring into action this law, government takes different initiatives for the surety of this law, because consumer protection is the basic motto of every government.Negligence lawNegligence law represents the right of a common person. In case of corporate dealings it is necessary for the seller to be aware about the product that he is selling to the customers. In case of any deception the seller will be responsible for the misconduct and he will have to pay the penalty for his lack of information and deceptive selling.Legal proceedingsOn occasion deception has been characterized by courts as a product, subject to products liability claims. To date few courts have recognized the applicability of first amendment protection in this...

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