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• Authors: Mirande Valbrune, Renee De Assis
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• Book title: Business Law I Essentials
• Publication date: Sep 27, 2019
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Chapter 1 Introduction to Business Law

Jul 17, 2012

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Chapter 1 Introduction to Business Law. 1 Definition & Scope 2 Features of commercial law 3 Basic principles 4 Effect of law on business operations 5 Resolution of business disputes . 1.1 Definition. 1 Definition & Scope.

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• court system
• shangdong high people
• major business law sources
• criminal law
• municipal people

Presentation Transcript

Chapter 1 Introduction to Business Law 1 Definition & Scope 2 Features of commercial law 3 Basic principles 4 Effect of law on business operations 5 Resolution of business disputes

1.1 Definition 1 Definition & Scope Total sum of law regulating the business organizations and their activities 1.2 Major business law Sources of major business laws

2 Features of commercial law

2.1 Lots of compulsory rules • All business organizations are subject to registration. • All business organizations shall pay tax. • Subcommittees; 1/3 ID in the BOD 2.2 Constant changes • Inevitable: responsive to the fast changing social-economic life. • German Commercial Code: more than 50 times, 100 clauses. • Japanese Company Law: 1990, 1993, 1994, 1997, 1998, 1999, • 2000, 2002. • Taiwan’s Company Law: 12 times since 1929.

2.3 Technicality • Corporate registration procedures, formalities for issuing and listing corporate shares and bonds • NI: issuance, endorsement, acceptance, rejection, payment • Maritime: vessel, towage, collision, general average and adjustment 2.4 Internationalization WTO rules: ADR, ASR, SMR; Maritime Law (1992)

3 Basic principles Law of the law, or rule of the rule

Illustration: Wendeng Brewery’s passing-off The plaintiff, Lüxian Brewery obtained the registered trademark “Xihuang (喜凰)” brand with ringed figure to be used on its spirit in 1987. On its label it also print such characters as “Xihuang spirit” (喜凰酒), in addition to the above registered trademark. Defendant, Wendeng Brewery owned the registered trademark “Tianfushan (天福山)” brand with ringed figure. In order to obtain more market shares, the defendant instructed the printing factory to print the label of “Xihuang (喜凰)” brand with minor modification., i.e. replacing the “Xihuang (喜凰)” mark with “Tianfushan (天福山)” mark, and the “Xihuang spirit” with “Xifeng spirit (喜凤酒)”. Consumers were misled and the plaintiff lost lots of market shares. In handling the case, the appellate court, i.e. Shangdong High People’s Court found it was difficult to establish that the trademark used by said defendant is the same or similar to that of the plaintiff, since the defendant merely passed off the label of the plaintiff and used its own trademark. If the court mechanically applied the legal rules of the Trademark Law, the defendant might avoid liability and made profits for doing so. Instead of using the trademark law, the appellate court held that the defendant violated the principle of honest and good faith in GPCL by resorting to unfair competition, and ruled that the defendant should stop such action and compensate the plaintiff's losses. By doing so the appellate court smartly made up the legal loophole at that time because the Unfair Competition Law has not been adopted yet.

3.1 Facilitation of efficient transaction Shorter period for limitation of action Standardization of transaction 3.2 Promotion of transaction security • Compulsory rules • Publicity • Externalism • Strict liability 3.3 Protection fair dealing • Equality • Honest and good faith

4 Effect of law on business operations

4.1 Other major laws affecting a business 4.1.1 Criminal law Civil law and criminal law Criminal, administrative and civil law

4.1.2 Administrative law Civil law and administrative law

4.1.3 Consumer law 4.1.4 Employment law 4.1.5 Financing law

4.2 Legal duties arising from business activities 4.2.1 Civil duties, administrative and criminal duties 4.2.2 Limited and unlimited liability (1) Unlimited liability in usual civil cases (2) Owner of corporation may have limited liability (3) Carrier under maritime law 4.2.3 Fault based liability and strict liability (1) Almost all common law liability in tort is fault based (2) Consumer protection, strict liability (3) Employer liability (4) Legal duties may overlap.

Illustration: Small bakery’s liabilities Small bakery, supermarket, contract Main problem: loaves do not feed properly through slicing and wrapping machine; called fitter to the machine several times, un-repaired; guard was removed; Operator was requested to manually push the loaf. Operator slips, his hand makes contact with the blades of slicing machine, badly injured; three fingers lost. Unable to deliver goods to supermarket. Only half of the order was performed. One loaf contained a metal bolt falling from slicing machine. Customer broke a teeth when he bit the bolt. Legal duties: (1)Bakery are liable to be prosecuted under Criminal law (2)Bakery to employee: tort of negligence (3) Bakery violated contract (4)Supermarket are strictly liable (5)Bakery are strictly liable (6) If the bakery is partnership, partners are jointly liable

4.3 Legal rights of groups affected by business activities 4.3.1 Employees (1) Collective bargain (2) Mandatory worker compensation 4.3.2 Consumers and customers 4.3.3 Shareholders (1) Minority protection (2) Derivative action

4.3.4 Creditors (1) Security (2) Bankruptcy 4.3.5 Community (1) Tort (2) Urban planning 4.3.6 The State (1) Criminal law enforcement (2) Framework for dispute settlement (3) Government regulation on business affairs (4) State owns big business

Questions: What legal liabilities arise from the following cases? (1) Accountant steals money from client. (2) Company newsletter mistakenly stated an ex-employee has been convicted. (3) Company driver took a short cut across farmer’s land damaging crops. (4) Self-employed technician buys a van with stolen cheque. (5) Partners in partnership drive firm’s van without taxing or insuring it. (6) Company director burns company documents.

5 Resolution of business disputes

5.1 Judicial route 5.1.1 Court system • Unitary court structure • 4-tier system • Two instances: one appeal only

Figure: People’s congresses and people’s courts nsbntmap.sys SCNPC NPC SPC Provincial people’s congress Standing committee High people’s court Standing committee Municipal people’s congress Intermediate people’s court County people’s congress Standing committee Basic people’s court

SPC Figure: Chinese court system High military court High people’s court High railway court Intermediate military court Intermediate railway court Intermediate forest court Intermediate people’s court Maritime Court Basic railway court Basic military court Basic people’s court Basic forest court

5.1.2 Jurisdiction 5.1.2.1 Tier jurisdiction

Distribution of hierarchical jurisdiction

5.1.2.2 Territorial jurisdiction Territorial jurisdiction

5.1.3 Court’s accountability Illustration: Work report of Shenyang Intermediate Court rejected

In 99.99% cases the people’s congress approves such report unanimously or by over-whelming majority vote. That is why many people still deem the people’s congress as “rubber stamp”. On 14 Feburary 2001, Shenyang Municipal People’s Congress unprecedentedly rejected the work report of the Shenyang Intermediate People’s Court. According to the law, the work report shall obtain at least 1/2 of all the deputies’ votes so as to be approved. However the work report of Shenyang Intermediate People’s Court only gained 218 votes of the 474 deputies, which was obviously below the required votes. This is the fist case in the municipal level or above and therefore attracted extensive comments and discussion of the matter. It is reported that the deputies were mainly dissatisfied with the wide spread corruption within said court, where more than 1/2 of the court leaders were involved in corruption, severely unfair judgments with more than 900 pieces of wrong decisions, evident violations of procedures, establishing obstacles for correcting wrong decisions, and low efficiency in handling cases.   Driven by such rejection incident, Shenyang municipality reshuffled the leadership of Shenyang Intermediate People’s Court. The original president, Jia Yongxiang was dismissed, and other major leaders were sanctioned accordingly. Ding Rensu，former director of the municipal bureau of personnel, was appointed as the acting president. Through 3 months of restructure and adjustment by him, the work report and adjustment report of said court was eventually approved by the municipal congress on 9 August 2001. Obviously the accountability system matters.

5.2 Administrative route 5.2.1 Central and local administrative organs 5.2.1.1 Central administrative organs Organization of the State Council

5.2.1.2 Local administrative organs • Three tiers: • (1) provincial government and centrally directed municipal • governments • (2) county government, county-level city governments and • district governments • (3) township governments and town governments • Local governments: the heads and deputy heads of the respective governments, and the responsible persons of the component departments. • Municipal and provincial levels: Secretary-General added • Township and town level: heads and deputy heads only, no special component departments

5.2.2 Classification Major classifications of administrative organs

5.2.3 Administrative organs involved in IP law enforcement

IP law enforcement bodies

5.3 Judicial route v administrative route • Administrative action: potentially more efficient • Court action: better procedural fairness 5.3.1 Costs 5.3.2 Jurisdiction and venue 5.3.3 Procedures

5.4 ADR Types of ADR

Types of mediation

Arbitration and civil procedure

Types of arbitration

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BUSINESS LAW.

Published by Georgia Chambers Modified over 8 years ago

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Presentation on theme: "BUSINESS LAW."— Presentation transcript:

PERFORMANCE OF CONTRACTS

Consideration Definition: X promises not to file a suit against Y if Y pays him $100 by a fixed date. The forbearance of X is the consideration for Y's.

(Part One): The Elements

Indian Contract Act, Indian Contract Act 1872.

Indian Contract Act,1872 It is a special branch of mercantile law which deals with the rights and obligations of the parties arising out of business transactions.

WHAT IS A CONTRACT ? Agreement enforceable by law

Prepare By: Asst. Prof. Pratik Paun Shri H.D.Gardi MBA college Rajkot.

Speaker : Barry Chin ( 錢志庸 ) Solicitor (HK, UK), Engineer (HK, Canada, UK) B.Sc., MBA, LL.B.(Hons), PCLL C.Eng, P.Eng, RPE, MIEE, MIMechE, MHKIE, MAPEO.

5/8/2015 santhi narayanan 1 INDIAN CONTRACT ACT 1872.

CONSIDERATION.

LEGAL ASPECTS OF BUSINESS. LAW Law is a system of rules, usually enforced through a set of institutions. It shapes politics, economics and society in.

Citizen Point of View Lawyer Legislator Judge

Bus Law..Spr 2015 POWERPOINT #2. BUSINESS LAW: Friday, February 13, 2015  EQ: Understand contract law.  Understand elements and characteristics of a.

Chapter 11 Formation of Traditional And Online Contracts

Commercial Law 1. Creation of Contract 2. Elements of Contract 3. Offer and Acceptance.

Difference between …. Agreement & Contract…. …

Offer and Acceptance As a first step in the making of a contract there must be a ‘lawful offer’ by one party and a ‘lawful acceptance’ of the offer by.

Chapter 2.  The first essential of a valid contract is an agreement i.e., offer and acceptance. An agreement arises when one party makes an offer and.

Business Law Module 2 Module II: Contract Act, 1872

Chapter 7 – How Contracts Arise

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Moscow's High Rise Bohemia: The International Business District With No Business

• Written by Dario Goodwin
• Published on March 17, 2015

The Moscow International Business Center (Also known as Moskva-City ) was meant to be Russia ’s ticket into the Western world. First conceived in 1992, the district at the edge of Moscow’s city center is intended to contain up to 300,000 inhabitants, employees and visitors at any given moment and, when completed, will house over 4 million square meters of prime retail, hotel and office space to create what the Russian government desired most from this project: an enormous financial district that could dwarf London’s Canary Wharf and challenge Manhattan . Twenty three years later though, Moscow-based real estate company Blackwood estimates that as much as 45% of this new space is entirely vacant and rents have plummeted far below the average for the rest of Moscow. The only press Moskva-City is attracting is for tenants like the High Level Hostel , a hostel catering to backpackers and other asset-poor tourists on the 43rd floor of the Imperia Tower , with prices starting at $25.50 for a bed in a six-person room. This is not the glittering world of western high finance that was envisioned back in the post-Soviet 90s; but what has it become instead?

As one might expect from a project of this sheer ambition, Moskva-City has a troubled past. The economic crash in 2008 hit Russia hard enough to evict the previous Mayor of Moscow , Yuri Luzhkov, who had been a cheerleader for the district, and replace him with the considerably more austere Sergei Sobyanin, who famously declared that the whole idea was an “urban planning mistake.” But as recently as 2013, the Wall Street Journal was triumphantly claiming that Moskva-City had risen from the dead, citing 80% occupancy rates and glowing quotes from industry insiders claiming that Moskva-City was the "place to be." Driven by record highs in oil prices, Moscow looked poised to become the next Dubai .

Instead, Moscow is now in the grip of an economic winter prompted by western sanctions and drops in the price of oil. The large financial groupings that Moskva-City was meant to shelter have been warned off by their inability to issue credit to international markets, for example - but Moskva-City isn’t just an Empire State Building left empty by the Great Depression.

A fundamental problem that is holding Moskva back compared to the rest of Moscow is the simple fact that currently, getting to Moskva-City is nigh-on impossible at peak hours. Moscow has long been plagued with transport problems, ever since the government failed to match the dramatic expansion of the city with a dramatic expansion of the transport system after the Second World War. Despite being only 2.5 miles from the Kremlin , Moskva-City is only just inside the ring road that bounds the city center and which acts as the only real transport link to it (and as a result, is clogged by construction vehicles.) A railway and metro hub has been finished, but so far only runs a one-stop shuttle service to the closest Metro station that is actually integrated with the rest of Moscow Metro. The isolation of the outer districts is a large, negative part of the Moscow psyche, and it’s not surprising that this is driving away the globetrotting financial elite this project was meant to attract.

The project is managed by architectural practice No.6, which is a constituent part of the large Moscow based practice Mosproject-2 , which is itself a public corporation headed up by Mikhail Vasilyevich Posokhin, who is apparently the “People’s Architect of Russia.” Despite all this state involvement, the project has still managed to become bogged down in bureaucratic infighting - each lot is managed and developed individually, which has led to developers competing for occupants by slashing rates.

Much has been written about the way modern financial districts and towers that inhabit them can be unwelcoming, forbidding or even hostile by design, but the skyscrapers of Moskva-City seem even less friendly than usual. The site - a former stone quarry, chosen out of necessity as the only place in the city center where a new district could be plausibly constructed - is isolated both physically and visually, leaving the cluster a stark anomaly on the city skyline. Even the names seem more imposing than optimistic now: Imperia, City of Capitals , Steel Peak.

The Mercury City Tower , so far the tallest completed building on the site, is officially “a strong reference to Russian constructivism, [which] gives the tower a strong vertical thrust similar to the one found in New York's Chrysler building .” It would be easy to criticize the Mercury City Tower for picking ‘inspirations’ that are so totally opposed to each other - The Chrysler building the defining emblem of American pre-crash confidence and Constructivism created with the express purpose (especially architecturally) of extending the Bolshevik revolution into a social revolution - but the way they smash those two inspirations together is almost beautifully ironic.

Even though the High Level Hostel is less an asset to a financial district than it is a PR problem, it’s been a huge success since opening in September, already ranked 27th out of 766 hostels in Moscow by TripAdvisor. According to the management agency for Moskva-City , 58% of the new occupant signings this year have been non-financial, including a number of small to medium size businesses. Other areas of office space have been occupied by a restaurant and a culinary school, while another space has been redeveloped into a 6,000 seat theater.

While Moskva-City is failing to be a financial district that could take on the world, it’s inadvertently becoming a humanized space catering to the very groups that the Russian economic miracle left behind. Taking advantage of rents lower than the rest of Moscow , the world class facilities and the sheer desperation of the developers, the humanization of Moskva-City could well create the world’s first high-rise bohemia.

Of course, these are not spaces designed for a community, or even for people: these are spaces designed for money, and there’s little scope for changing something that seems so baked into the design of Moskva-City . The High Level Hostel is trading off of the irony of being a hostel in a banking tower, but it’s perfectly possible that at some point people will no longer find this joke funny (especially in a building that seems hostile to the very idea of humor). The isolation of Moskva, even though it allowed this community to spring up in the first place, is just as detrimental to a humanized district as it is to a financial one: even bohemians need to move around the city, or the district risks becoming a black-spot instead of a hot-spot.

Moskva-City’s isolation won’t last forever. The end of construction will open the roads up to traffic, and plans to properly integrate the spur lines of the Metro in this area into the wider system are well under way. The integration of the district will inevitably push up rents, and the Russian economy will eventually boom once again. When that happens, Moskva-City is prime territory to be reconquered by the giants of international finance, and it seems unlikely that the municipal or national governments would want to step in to protect this accidental district. For now, though, the towers capture perfectly this moment of Russia ’s schizophrenic understanding of its place in the world.

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