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Chapter

Cover Business Law

1. How to Study Law for Businesses  

This chapter begins by identifying the reasons that make the study of business law an important aspect in the wider context of business. It identifies strategies and good practice that will help a student with their studies, and provides a sample problem-type question and guidance on how to prepare a law-based answer. Business law is a distinct topic from other modules on accountancy, business, and management courses. A knowledge of the law cannot be bluffed—it is necessary to be aware of the relevant laws and think about business problems from a legal standpoint. This approach will ensure that legal questions are answered with reference to the law, which is crucial to being successful in the business law module.

Chapter

Cover Legal Systems & Skills

21. Law firms as businesses  

Scott Slorach, Judith Embley, Peter Goodchild, and Catherine Shephard

This chapter first discusses the business aspect of law firms. Law firms have the same financial motivations and pressures as any other business. They need money (investment) to set up, and then to survive and grow. Law firms need to make a profit, attract clients, and stay ahead of other law firms. They operate within the legal market, producing a product-legal services-the ‘consumers’ of which are the clients. The chapter considers the different types of law firm operating within this market, who their clients are, and why those clients chose a particular firm. It examines the challenges faced by law firms in both the domestic and international markets.

Chapter

Cover Constitutional Law, Administrative Law, and Human Rights

16. Locus Standi  

This chapter focuses on the concept of locus standi, perhaps the most important way in which administrative law deals with the question of how to balance the protection of individual citizens’ rights and interests with the desire to ensure that government decision-making remains within legal limits and that government bodies (including the courts) are protected from vexatious litigants. It is organised as follows. The first section addresses the law that existed prior to the introduction of the Order 53 reforms in 1977 whilst the second covers the short period between the introduction of those reforms and the House of Lords’ decision in IRC v National Federation of Self-Employed and Small Businesses. The third section runs from the mid-1980s to the present day. The pervasive analytical concerns are to explore the way the law of locus standi interacts with the question of the choice of procedure issues which were addressed in chapter fifteen, and—more broadly—to assess how those two matters both singly and in combination structure in a practical sense the way our constitution gives effect to the various values inherent in theories relating to the rule of law and sovereignty of Parliament.

Chapter

Cover Markesinis & Deakin's Tort Law

15. The Economic Torts  

Economic torts seek to protect a person in relation to his trade, business, or livelihood. However, he will only be protected from certain kinds of interference, principally those inflicted intentionally or deliberately. Nor will an intention to harm suffice, on its own, to ground liability. There are three broad sub-categories of liability: those torts based on the defendant’s wrongful interference with the claimant’s pre-existing legal rights (inducing breach of contract and inducing breach of statutory duty, in particular); the tort of interference with trade or business by unlawful means; and the tort of conspiracy. This chapter considers each of these in turn followed by an outline of the statutory immunities in relation to trade disputes.

Chapter

Cover Card & James' Business Law

8. The law of agency  

This chapter examines the key provisions of the law of agency. It highlights the importance of agency for the business sector and explains that an agency is a specific form of legal relationship between two persons whereby one person appoints another person to act on his behalf. An agency can be created by express or implied agreement, through the agent’s apparent authority, and when the principal ratifies the purported agent’s act. This chapter also discusses the duties and rights of the principal and agent, and the relationships that exist between agent, principal, and third party. Finally, the chapter discusses the various ways in which a relationship of agency can be terminated.

Chapter

Cover Banking Law and Regulation

1. Introduction to banking law and regulation  

Iris Chiu and Joanna Wilson

This introductory chapter provides an overview of banking law and regulation. Banking law and regulation covers private commercial law developed through banking custom, standards of good practice, and the common law, which together have a long history of shaping and refining the rights and obligations of banks and their customers. Consumer protection lies at the heart of many banking law and regulatory initiatives, which often seek to address or rebalance the superior bargaining position of banks in the bank–customer relationship. In recent decades, public regulatory sources of law in banking regulation have become multi-layered and complex, ranging from international to European and national regulation. The chapter also describes the nature of the banking business as well as its types and scope.

Chapter

Cover Legal Systems & Skills

20. Law firms as businesses  

Scott Slorach, Judith Embley, Peter Goodchild, and Catherine Shephard

This chapter first discusses the business aspect of law firms. Law firms have the same financial motivations and pressures as any other business. They need money (investment) to set up, and then to survive and grow. Law firms need to make a profit, attract clients, and stay ahead of other law firms. They operate within the legal market, producing a product-legal services-the ‘consumers’ of which are the clients. The chapter considers who those clients are, and why they chose a particular firm.

Book

Cover Employment Law in Context
Employment Law in Context combines extracts from leading cases, articles, and books with commentary to provide a full critical understanding of employment law. As well as providing a grounding in individual labour law, this title offers detailed analysis of the social, economic, political, and historical context in which employment law operates, drawing attention to key and current areas of debate. An innovative running case study contextualizes employment law and demonstrates its practical applications by following the life-cycle of a company from incorporation, through expansion, to liquidation. Reflection points and further reading suggestions are included. The volume is divided into eight main Parts. The first Part provides an introduction to employment law. The next Part looks at the constitution of employment and personal work contracts. This is followed by Part III, which examines the content of the personal employment contract and the obligations imposed by the common law on employers and employees. The fourth Part is about statutory employment rights. The fifth Part covers equality law. Part VI looks at the common law and statutory regulation of dismissals. The Part that follows considers business reorganizations, consultation, and insolvency. Finally, Part VIII describes collective labour law.

Chapter

Cover Legal Systems & Skills

18. Understanding clients: individuals and businesses  

Scott Slorach, Judith Embley, Peter Goodchild, and Catherine Shephard

This chapter uses a client case study to explore life events that will require individuals and businesses to have recourse to the law. It also looks at how both individuals and businesses raise money, showing that there are many reasons why individuals and businesses will have recourse to the law. Often the need for legal services is triggered by some form of important life event, such as moving house, divorce, or setting up a business. All life events will have a legal and financial impact on individuals and businesses. Lawyers need to anticipate their clients’ needs in the light of this.

Chapter

Cover Company Law

1. Introduction  

This introductory chapter provides an overview of the aims of company law and governance. Company law should hold companies and directors to account, be flexible enough to respond to novel and evolving practices, provide certainty, promote transparency, help to avoid misalignment of interests, promote corporate efficiency, and help avoid corporate disaster. The chapter then looks at other key important business structures. Other than companies, the principal business structures are the sole proprietorship, the partnership, and the limited liability partnership. A sole proprietorship is a sole individual carrying on some form of business activity on their own account. Meanwhile, two or more persons who wish to engage in business together can form an ordinary partnership. Finally, limited liability partnerships were created to provide suitable business structures for large, professional firms. In many respects, limited liability partnerships resemble companies.

Chapter

Cover Legal Systems & Skills

17. Understanding clients: individuals and businesses  

Scott Slorach, Judith Embley, Peter Goodchild, and Catherine Shephard

This chapter uses a client case study to explore life events that will require individuals and businesses to have recourse to the law. It also looks at how both individuals and businesses raise money, showing that there are many reasons why individuals and businesses will have recourse to the law. Often the need for legal services is triggered by some form of important life event, such as moving house, divorce, or setting up a business. All life events will have a legal and financial impact on individuals and businesses. Lawyers need to anticipate their clients’ needs in the light of this.

Chapter

Cover EU Law Concentrate

8. EU competition law  

Articles 101 and 102 TFEU

Matthew J. Homewood and Clare Smith

Articles 101 and 102 of the Treaty on the Functioning of the European Union (TFEU) prohibit anti-competitive business practices. The European Commission, national competition authorities, and national courts enforce Articles 101 and 102 under powers conferred by Regulation 1/2003. From time to time, the European Commission issues non-binding notices providing clarification of the competition rules. This chapter begins with an outline of Articles 101 and 102 and the rules on enforcement. It then looks at the two Treaty provisions in detail. In broad terms, Article 101 prohibits business agreements or arrangements which prevent, restrict, or distort competition within the internal market and affect trade between Member States whilst Article 102 prohibits, as incompatible with the internal market, any abuse by undertakings in a dominant position within the internal market insofar as it may affect trade between Member States. It should be noted at the outset that ‘dominance’ itself is not prohibited, but only when such dominance is accompanied with abusive behaviour that may affect trade.

Chapter

Cover Intellectual Property Law

11. Patents I: Justifications, Registration, Patentable Subject Matter, and Industrial Application  

All books in this flagship series contain carefully selected substantial extracts from key cases, legislation, and academic debate, providing able students with a stand-alone resource. This chapter begins with an overview of the history of UK patent law. It then discusses: justifications in support of patent rights; sources of patent law; obtaining a patent; patentable subject matter; exclusions from patentability relevant to biotechnological inventions (e.g. plant and animal varieties and non-microbiological processes for their production; software and business methods; and inventions that are contrary to ordre public or morality); industrial application requirements for patentability; and methods of medical and veterinary treatment.

Chapter

Cover Company Law

1. Introduction to company law  

Titles in the Core Text series take the reader straight to the heart of the subject, providing focused, concise, and reliable guides for students at all levels. This chapter presents an overview of company law, first by considering the company’s place within the various forms of business organisation. To get some comparative perspective on the relative merits of each type of organisation, three criteria for judging them are discussed: whether the form of business organisation facilitates investment in the business, mitigates or minimises the risk involved in the business venture, and whether it provides a clear organisational structure. Using these criteria, three forms of business organisation are analysed: the sole trader, a partnership, or a registered company. The chapter also explains the importance of the memorandum as part of the company’s constitution, as well as the distinction between private companies and public companies. Finally, it outlines the benefits of forming a company as opposed to the sole trader or a partnership.

Chapter

Cover Introduction to Business Law

4. The Nature of the Agreement  

Offer and Acceptance

This chapter discusses the nature of contracts, the essential elements of a valid contract, and issues in contract law. A contract is a bargain, made between two or more persons, which is legally binding. The essential elements of a valid contract are the following: agreement (offer and acceptance of definite terms); consideration (a promise to give, do, or refrain from doing something in return for a similar promise); an intention to create legal relations (usually presumed in a business transaction); compliance with required formalities where applicable; and capacity to contract. This chapter discusses in detail the principal rules relating to offer and acceptance. It considers the making and termination of offers in unilateral and bilateral contracts. It explains the rules relating to communication and methods of acceptance of offers and discusses the making of contracts via the internet.

Book

Cover Introduction to Business Law
Introduction to Business Law demonstrates the relevance of key areas of the law to a world of work that the business student can relate to. Students of business often find business law modules challenging, irrelevant to their future career, and full of alien terminology and concepts. Structured in eight parts, this book provides a foundation in the key legal concepts of the English legal system, contract law, and negligence before discussing how the law affects the everyday workings of businesses and their employees from protecting intellectual property rights to company formation, winding up and insolvency. It covers a variety of topics around the subjects of the English legal system, contract law, the law of torts, employment law, the structure and management of business and the major intellectual property rights.

Chapter

Cover Koffman, Macdonald & Atkins' Law of Contract

7. Express and implied terms  

This chapter looks at the creation of express and implied terms. In particular, it deals with spoken statements becoming express terms and the different types of implied terms. Terms implied in fact, in law, and by custom are addressed. The traditional ‘business efficacy test’, and ‘officious bystander test’ are looked at in relation to terms implied in fact, and developments leading up to and including the recent Supreme Court judgments of Marks and Spencer plc v BNP Paribas Securities Services Trust Company (Jersey) Ltd and Wells v Devani. Consideration is given to the requirements for terms to be implied in law, at common law, and the growing recognition that, despite references to ‘necessity’, the implication of such terms is concerned with issues of fairness, reasonableness, and social policy.

Chapter

Cover Contract Law

8. Filling the gaps  

Implied terms

This chapter focuses on contracts which leave some issues unaddressed and the law of implied terms used by the courts to deal with such situations. It first explains the nature of implied terms and the process of implication that requires the court to strike a difficult balance, along with the tests for implication. It then considers terms implied in law, paying attention to implication by statute and at common law, before discussing terms implied in fact. More specifically, it explores the tests of business efficacy, obviousness, and the officious bystander, and the approach used based on Lord Hoffmann’s judgment in the Privy Council in Attorney General of Belize v Belize Telecom. The chapter also analyses implication by custom, along with good faith and cooperation as requirements for parties to a contract.

Chapter

Cover Competition Law

10. Competition Act 1998 and the cartel offence: public enforcement and procedure  

This chapter describes the system of public enforcement under the Competition Act 1998. This chapter begins with a consideration of the way in which inquiries and investigations are carried out under the Competition Act. It briefly considers the position of complainants to the CMA, followed by a discussion of the extent to which it may be possible to receive guidance from the CMA on the application of the Act. The chapter then describes the powers of the CMA to enforce the Competition Act, the criminal law cartel offence and the provisions on company director disqualification. It concludes with a discussion of concurrency, appeals under the Competition Act and the Government’s review of the operation of the Competition Act between 2014 and 2019.