Business and corporation law

Business and corporation law

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Business and corporations law

ACL introduces a regime of guarantee consumer protection in contracts involving suppliers with customers for the supply of goods and services. A consumer is, therefore, liable to various statutory remedies in their contracts with the vendors. In business, a sole trader enjoys all the profits and exercises a degree of control over the enterprise with very quick decision-making process. It is contrary to a partnership where the profit gets shared, and there is a joint control of the business. However, a sole trader suffers all the losses in business alone and the case of sickness or death; the business would liquidate or dissolve unlike in partnership where the loss gets shared, and other partners can carry on with the business in case of sickness or death of one partner.

Sarah can still legally demand the 10% off. The issue here is that a valid offer is that offer that reaches the consumers through acceptable channels that confirm the origin of the offer. The rule is that the offer will and only get terminated through the very channel of its source. Sarah got a catalogue in a mail suggesting the offer and did not get a letter of the tender’s termination. The conduct of failing to send notifications to Sarah of the termination gets regarded as a misleading and deceptive conduct punishable by law. (ACL section 18). The business does not take into account the value of their information to their target audience.

The corporate governance helps in streamlining the corporation activities by ensuring a clear level of accountability as well as communication within the organization. Corporate governance also provides that the personnel within the organization understand what their roles, as well as responsibilities, are. It also promotes the transparency and ethical behavior in corporations.

The concept of artificial persons indicates elements of fiction within it. Its developers; Von Savigny, Coke and Holland, put persons’ attributes to a business and regards the organization as a different personality from its members or shareholders. The corporation is further given some legal rights as well as duties of a human being, which is entirely far from facts. The company being a factious separate legal entity can therefore be insolvent while its members remain at their peaks.