Topic > Business or Trade Law - 1190

Business or business law is a body of law that applies to the relationships, rights, and conduct of persons and businesses engaged in commerce and sales. The law plays a significant role in any business. The law serves as quality control. It is used as a tool to check whether or not the company performs its function appropriately or not, whether it offers good quality services or not. Rules in commercial law may consist of national or international agreements, conventions or laws, which govern relationships involving people in commercial matters (Washington State Grange, 2008, 1190). The law is essentially divided into two distinct parts: a) the first is the regulation of commercial entities through corporate laws, i.e. partnership, agency and bankruptcy and b) the next is the ruling of business entities, including: i) l individual entrepreneur, who alone faces and bears the risk and mandate of managing a business, making profits. This does not constitute any legal association and is therefore not regulated by particular legal provisions. ii) The other business entity is the partnership, in which the partners come together, collectively forming an association in which they all participate in the management of the company, and together sharing the profits obtained from the operations carried out, together they assume the responsibility of the company debts and are sued jointly and frequently in connection with the company's wrongful acts (Watchtower et al., 2002, 150). All partners in the partnership are each other's agents and as such have a fiduciary relationship with each other. Company law in the U...... at the center of the document ......to implement reasonable attention to the following step and in reality the most difficult thing in analyzing the problems of the case is the application of the law legal pertinent to the specific facts of the case studied. In our case and as our conclusion, Quality Market is liable to Lawson for damages caused to the customer. This is because the market's breach of duty of care caused Lawson's injuries. The law is therefore important in protecting the rights of customers and also allows for smooth running of business. Those who are engaged in business activities are provided with a platform through which they can seamlessly relate to both their employees and their customers. This prevents violations of the law and protects the rights of all individuals. In this regard the law therefore acts as a quality control within a company or a