Business Law Business & Marketing Coursework Paper (Coursework Sample)

Business Law
Student’s Name
Institutional Affiliation
Business Law
Response to Questions Part A
Question One
The Sale of Goods Act provides the existence of terms that relate to the contract of sale to ensure that goods meet the buyers’ expectations and consideration is attained by the seller. Implied terms relate to certain expectations to be satisfied during the contract whether they are expressed or not (Yates, Bereznicki-Korol, & Clarke, 2013). There are two implied terms which are conditions and warranties. A distinction between the two is integral since a condition goes to the root of the contract as a major requirement and any breach renders the contract repudiated while breaching of a warranty which as a minor requirement does not end the contract but offers an option of suing for damages. An example of a condition is when goods are sold after a sample is presented must ensure that the sold goods relate to the sample description and be of merchantable quality free from any defects (Glover, & Doss, 2017). An implied warranty includes an expectation that the sold product is free from any encumbrances not in the knowledge of the buyer.
Question Two
The shareholders of a corporation are at times threatened by the actions of Directors that would choose not to act on their own interest thereby requiring them to seek redress against such third parties. Derivative action, dissent, and oppression are some of the legal instruments available for shareholders to protect their interests and restrain directors from any ultra vires action in the execution of their mandate. Derivative action entails the undertaking of a shareholder to initiate a lawsuit against their directors or persons working for their corporation for purposes of retribution on behalf of the corporation. Derivative actions are used to cure directors' engagement in fraud, incompetence, negligence among other determinations that would injure the interests of the corporation. The dissent offers a minority shareholder protection from unreasonable action by the corporation through compelling it to buy their shares at a fair price. Dissent action is intended to object an extraordinary action that would injure their interests in the corporation (Yates et al., 2013). Oppression is a form of protection entitled to shareholders or even creditors that the court would assess their relationship with the corporation that would sue directors whenever they are treated to unfair prejudice. Oppression action is used in instances when a corporation through it directors chooses to injure the interests of a shareholder.