Hello, having a problem with business law case studies with answers? Well, it can be because you have not understood it properly but do not get tense I have prepared a blog which will briefly cover the topic along with necessary solution with cases to make you understand.
Well, basically these are a humongous filed and this why people seek for help, in business laws you required to abide by the rules and regulation. Now you may ask the question why such laws are formulated. Well, such laws are made in order to protect both the parties involved in the transaction.
I hope you get some sort of knowledge now I will explain some of the important types of business laws.
What Are the Important Types of Business Law Case Studies with Answers?
In order to be more prominent, let me classify the business laws into following the categories
- Contract law
- Consumer protection law
- Sale law
- Trade law
- International law
What is contract law? Maybe this is the first thing you are thinking right? Well, this can be considered as a situation when the interest of both the parties who are involved in a contract is at risk, this further results in cases.
So there may be a situation where such case may occur and in order to solve the dispute between both the parties intervention of law may be required.
Consumer Protection Law
When you buy a product from a market? You buy it because you have faith in the product, but have you ever wondered if you do not get the service that was promised by the company, what will you do? You are breached.
You have the right to seek the help of consumer protection act if your faith is breached.
Sales Law– This is just to let you know that sales basically happen through legal practices and no such illegal means are involved in it. Now some of the things that are covered within this law include what are the products to sell, the quality to be sell and where to sell the product are some of the points that this law covers?
Whenever there arises any inconsistency in the above-mentioned fronts, it is the job of sales law to remove such odds.
What does trade mean? It means the exchange of goods and services against a certain amount of money. Well, this law basically comes into play whenever there is an intention to exchange goods and services from both the parties.
International law- As the name suggests international, so it has nothing to do with business within your country, this law comes into the act when you go beyond geographical confines. One needs to follow the rules under this law in order to do business away from the nation.
Well so far you have been explained about business law case studies with answers, I hope the explanation is clear and you have developed some concept about it. Now in order to be more practical with the topic let me discuss some of the examples along with solutions.
Contact Act Case Study
Mr. Ram gave an offer for selling his HP laptop for 15000 in the newspaper. In the newspaper, he stated that people who have interest in purchasing the laptop can contact in his mobile number. Now, what you think about this simple case and figure out the solution.
- Madan showed interest in purchasing the laptop and sent Mr. Ram a message expressing that he would like to buy the laptop for 12000. Well, now your task is to find that was it an acceptance given by Mr. Madan to Mr Ram?
Well, this cannot be considered as acceptance rather it can be termed as counteroffer. Ram has to consider acceptance is acceptable.
- Madan showed the interest in purchasing the laptop from Mr. Ram but he asked his friend Aman to text Mr. Madan on behalf of him, now Aman message is quoted below
“My friend Madan is keen to buy your laptop for rupees 15000’
Can this be considered as a valid acceptance?
This cannot be termed as a valid acceptance, in order to be a valid acceptance, it is required to be expressed by the accept. Here we see that Ram is not bound by the action of Aman.
- Madan who showed more interest in buying the laptop had rung Mr. Ram and express acceptance over his phone. Is Ram thankful for the acceptance given by Mr. Madan?
Now to give the acceptance it must only be done as prescribed by the offer and nothing else can be done to give it.
Hence Madan acceptance over the phone cannot be considered as acceptance.
Well let us go with another example under consumer protection act case
This is a case study to determine who the consumer is
Mr. Ajit bought a Printer from a shop; he bought to use it for domestic purpose. The television was faulty. Is Ajit can be called as a consumer?
Here Mr. Ajit is the consumer he bought the printer for his own use.
Bijoy is a computer accessories distributor and he bought 50 pen drives. The 50 pen drives are to be sold at other computer vendors. Is Bijoy a consumer here?
In this case, Bijoy cannot be regarded as a consumer as he has bought the pen drives for reselling
Let Us Discuss another Case Study on Warranty
Ragini bought a second-hand printer form Bishnu. Ragini used for some days and she repaired and later it got stolen and as such Bishnu was required to return back to the true owner.
Now can it be termed as a breach of warranty? What remedy will Bishnu get?
It can be termed as a breach of warranty because Bishnu could restore the damages.
With all such examples and solution I hope you have understood this topic on business law case studies with answers