Commercial Law Coursework ‘If the underlying policy of Section 27 of the Hire Purchase Act 1964 is to extend a strong measure of protection to private purchasers acting in good faith, then the decision in Shogun Finance Ltd v Hudson [2003] UKHL 62 can be seen as an example of this policy being defeated by questionable aspects of the common law.’ Discuss. Transfer of title and property to goods is considered to be in most cases a relatively straightforward commercial transaction between two parties. There are certain situations where a non-owner having bought goods from the seller disposes them to a third party, which acts in goods faith. The question, which emanates from such cases, is whether the bona fide purchaser has received a valid title to the goods. According to the Latin maxim “nemo dat quod non habet” set out in S21(1) of the Sale of goods Act 1979 the seller cannot pass to a buyer a better title to the goods than he himself possesses.
a) Price fixing. INCORRECT 4. Eric is acting as a disclosed dual agent in a transaction. Which statement is true? c) Eric may not represent the seller’s interests to the detriment of the buyer.
Within any country or society what it is done in the light or what is done under the table can be very different depending on their views and traditions. Those countries that use the tradition of gift culture may not view corruption the same as one who does not follow that tradition. I do agree with social structure and political traditions throughout other countries being based on the beneficial exchange of rewards for services rendered. Also with the gift culture having a major impact on what is considered corruption in different societies. The giving of gifts is a common practice in many cultures for gifts to be given as a way of smoothing relations and facilitating a successful negotiation with your new business partners.
The purpose of this paper is to portray the reaction triggered upon reading Peter M. Whiteley’s "Ties that bind: Hopi gift culture and its first encounter with the United States". One often thinks that gift-giving is an obligation without reciprocal reaction, being taught that it is always better to give than to receive. But upon studying other cultures one can discover that gifts can surprisingly have a much deeper meaning in both social and political environments. Whiteley introduces Hopi culture as one that measures wealth in ritual and ceremonial terms rather than material ones. This is why gifts in Hopi culture are meant to be meaningful in the spiritual realm rather than in the material.
The party was not acting as a volunteer in providing this benefit. The party receiving the benefit would be unjustly enriched if allowed to retain the benefit without paying for it. All of these requirements must be met in order for a quasi-contract judgment to be awarded. In this case, I believe that the requirement most likely to be disputed is the question of whether or not Middleton benefitted. However, the requirement of enrichment could be argued as well if enrichment came from knowledge and not profit.
Negatives in the equation are costs involved, which may be seen as time, energy, money and so on. Benefits or things that a person gets out of any relationship may involve friendship, amusement, social support, companionship and so on. The value of any relationship according to SET is essentially subtracting the costs from the benefits in determining if the interaction is positive or negative. In looking at SET we must consider several basic tenets which are that there are negotiated rules and norms of exchange that are expected to be abided by. The most salient of these rules is that of reciprocity or repayment in kind.
in relation to marketing government regulations plays an important role in ensuring businesses are not presenting deceptive and misleading advertising, price discrimination, implied conditions and false warranties. An example of unethical behaviour through marketing is when a company promotes there business with false and inaccurate advertising which can result in a bad reputation towards the business as well as a loss of market share. An example of lack of contribution towards ensuring the business has kept up to government regulations standards especially through the marketing function of a business can result in penalties imposed by the court as well as public warning notices being issued out by the Australian Competition and Consumer Commission which can result in the creation of bad reputation for a business. Apple is a company that identifies how important ethical behaviour and government regulations are within the business as Apple has successfully acknowledged and ensured to promote and produce ethically in marketing allowing the business to gain a respectful reputation towards their company. As Apple has ethically practiced
Gifts are objects that can and may be given to other people, generally, the person or people that you are exchanging with has some sort of a relationship between you, vice versa or both. The gifts that are given depend on this relationship between the person you are giving the gift to, so the gift may be more significant the closer the relationship you have with the person. Commodities are objects that can and may be given to other people, but in this instance, the people exchanging the object(s) have some sort of relationship with the object itself. In the first paragraph I reflect on what is a gift and then on what makes an appropriate gift. Secondly, I mention the possible increase of ‘market economy’ and the decline in ‘gift economy’, the cultural devaluing of handmade gifts, how we mediate this, and whether money is an appropriate gift or not.
An externality is an effect of a purchase or use decision by one set of parties on others who did not have a choice and whose interests were not taken into account. Standard economic theory states that any voluntary exchange is mutually beneficial to both parties involved in the trade. This is because buyers or sellers would not trade if either thought it not beneficial to themselves. However, an exchange can cause additional effects on third parties. From the perspective of those affected, these effects may be negative or positive.
Such situations give rise to externalities. In other words, externalities happen when the costs or benefits of transactions for goods and services spill over to third parties not directly involved in the transaction (other than the producer or the consumer). Benefit externality (sometimes called positive externalities) are ones where not all costs are compensated. In other words, certain benefits spill over to third parties. Education can be an example of benefit externality.