Business or Comercial Law Essay

Business or Comercial Law Essay

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Business law or commercial is a body of law that applies to the relations, rights,

and the conduct of persons and businesses that are engaged in trade, and sales. Law has a

significant role in any business. The law serves as the control of quality. It is used as a tool

that inspects whether or not the business serves its function appropriately or not, whether

it offers good quality services or not. The rules in business law can be either by agreement,

convention, or national or international legislation, governing the dealings involving persons

in the commercial matters (Washington State Grange, 2008, 1190). The law broadly falls

into two parts which are distinct: a) the first is the regulation of commercial entities by the

laws of company, that is, partnership, agency, and bankruptcy and b) the next is the ruling of

There are a number of forms of legal business entities, which include: i) the sole

trader (entrepreneur), who alone encounters and bears the risk and the mandate of running a

business, benefiting from the profits. This forms no any association in the law and therefore

not regulated by special rules of law. ii) The other business entity is the partnership, in which

members join together, forming collectively an association in which they all participate in

managing the firm, and together sharing the profits obtained from the transactions carried

out, together bear the liability for the firm’s debts and they are sued jointly and frequently

in relation to the firm’s tortious acts (Watchtower etal., 2002, 150). All partners in the

partnership are each other’s agent and as such are in a fiduciary relationship with one another.

Corporate law in the U...

... middle of paper ... implement reasonable care to

The step that follows and actually the most difficult in analyzing case problems is the

application of the rule of law that is relevant to the specific facts of the case been studied.

In our case and as our conclusion, Quality Market is liable to Lawson for a

customer’s injuries. This is because the market’s violation of its duty of care caused

Lawson’s injuries. The law is therefore significant in protecting the rights of customers and

also makes it possible to run business smoothly. Those engaging in businesses are provided

with laid platform through which they can smoothly relate with both their employees

and their customers. This prevents the violation of the law and protects the rights of all

individuals. In this regard the law therefore serves as a quality control within a company or a

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