Business Law Concepts

A condition is damaged when the products transported do not coordinate the depiction. Goods must be meeting standards of fitness, quality and title is a condition which states that goods have to be free of defect. Considering the fact that dealers are better and offering their item, the purchaser buys the item on vender's reference. This fundamentally shows the item is fit to utilize. If there is a deformity which once more, is not plainly visible to observe it is a breach of agreement as the purchaser would not have consented to buy the item at that specific cost. Oppression provides shareholders the right to present an action against a director of a corporation in certain situations on the basis that they have been offended.

For instance, if a shareholder feels that a director has breached his fiduciary duty, they can seek relief. There are a variety of remedies that a court Question 3 A restrictive covenant is created by the original seller of the property granting a purchaser an interest in that property (usually ownership), but placing some sort of restriction on its use--for example, no house can be built on the land without a tile roof or no building can be erected over three stories high. This kind of restrictive covenant may be used to protect the value of the seller's adjacent property or to protect his view, etc. Sometimes property is subdivided and if other property owners in the subdivision agree, as a condition of purchase, to certain restrictions to protect each other's interests, this is called a building scheme.

They are required to act in the good faith for the best of the business and usually must exhibit the degree of skill that one would normally expect from a reasonably prudent business person. Directors may also be personally liable where insider knowledge has been misused, where the corporation has not paid wages, taxes or has violated environmental law. They may also be charged criminally if they have directed employees to commit crimes to benefit the organization. Senior managers are responsible for the ongoing daily operation of the business and have obligations similar to the directors. Promoters are responsible for creating the corporation in the first place and their responsibility, in addition to those of the directors and managers, is to disclose all pertinent information and refrain from taking advantage of their positions at the expense of the shareholders.

It is vital that a distinction between these types be made as the type of authority they hold determines which party carries liability: An agent acting within their actual authority causes them to be liable for any damages they may cause. Should they exceed their actual authority, they may still be liable. However, if conduct were to fall within an agent’s apparent authority, the principal may be bound. The principal would further be bound due to the principle of estoppel. There may also be differences in perspective further solidifying the importance of having clear explanatory agreements and a mutual understanding about where the actual authority line is drawn. The most important of these steps is monitoring what the employee does.

However, it is vital that the employer maintains a balance between balancing between computer and liability, and still providing employees with their right to privacy. This can be done by informing employees that their computer use will be monitored. Another important step would be to provide current and new employees with a list of things that they can and cannot do while using a computer at work. Question 10 The Bulk Sales Act is a law that exists in Ontario to safeguard creditors from a debtor selling almost all, or all, of their assets within a short period of time. Just as was stated, contractual agreements pitting family members and relatives are taken as mutually binding irrespective of the contribution made to the business by the respective partners.

As such, the level of input does not change the terms and conditions of a company that is operated by family members or relatives. Doug could still rightfully claim to be reimbursed his contribution to the business notwithstanding whose name the license was registered under. In such business dealing, the partners are entitled to share the assets in equal proportions if there was no partnership deed outlining the manner in which assets are to be shared in the event of separation. As such, before a trial court, Doug is entitled to receive $400,000. If the Competition Act found Adams innocent, this case can only be re-investigated in places that the Act covers and not any other place. Case three We refer to the regulations concerning trespass to property or goods and private nuisance under tort law.

According to private nuisance, an act is considered wrongful where one's rights and freedoms are wrongfully interfered with in the private use and enjoyment of his property. Additionally, in determining the grounds for nuisance, it is not essential to consider whether the plaintiff came to the place of the wrongful act. The law is clear that provided an action interferes with individuals or organizations in their private use of their properties, the act is actionable per se (without proof). The general view of the veil of the corporation is that in the event the company and the directors have conflicts, the corporation should be liable for all the dealings entered with its directors. However, certain circumstances may demand that the courts disregard the veil of the corporation and make the directors liable for any contractual dealing with the corporation.

This is what the common law terms as "lifting the veil of the corporation" and is done in public and economic interest respectively. As such, the court may overlook the company's separate entity and treat it as an association of persons, the directors or shareholders. The case provided does not meet grounds to lift the corporate veil. As such, any violation on the court order to prevent continued use of the patented product is treated as contempt of court and is actionable per se. Therefore, Smith can seek a court order restraining the continued use of his idea without his permission. Injunctions may be preliminary or permanent. Secondly is monetary compensation. Alternatively, Smith can sue for damages to be compensated the loss resulting from wrongful use of his idea.