Commercial Law Assignment Sample Singapore
Commercial law is also known as Trade Law or Mercantile Law. Commercial law is applied to businesses’ conduct, relations, and rights and persons engaged in trade, sales, merchandising, and Commerce.
Various educational institutions in Singapore ask the student to write business law assignments and essays on the law topics which are studying law-related courses.
Students can go through AC2302 NTU company law assignments uploaded on our website. Here we are providing an assignment sample on commercial law.
About commercial law
Commercial law is the broader aspect of the law that interacts with various law areas like food, safety, real estate, and environmental regulation laws.
Commercial law’s main branch includes intellectual property laws, contract laws, and consumer protection laws.
If candidates wish to understand agency and contract law in depth, then they can go through the BUS 201 contract and agency law sample assignment on our site.
Importance of commercial law
Commercial law efficiently governs the trade between consumers and businesses. It creates a fair regulated system for both parties so that reasonable trade practices can be conducted effectively.
Here are some key points denoting the importance of commercial law
- Helps in resolving disputes and conflicts- the stages of dispute resolution and conflict include Negotiations followed by Mediation, then comes Arbitration, and lastly, Litigation.
- Helps manage and understand financial transactions– The business should understand the publications and legal conditions required for the exchange of money.
Exchanging Money and banking are some important areas related to business management.
- Outlining the consumer and business’s legal responsibilities- Being a business owner, you have ethical and legal obligations. The business should provide well-defined and outlined terms and conditions to their customers to avoid any future conflicts.
What are the legal issues commonly related to commercial law?
Business or commercial laws are associated with various legal issues. The most common are contract violations. A contract is involved in the transaction between the customers and the business.
Significant losses can occur to both parties on the breach of contract. Some common legal issues related to commercial law are as follows.
- Contract violation
- Unfair competition issues
- Protection of trade secrets and intellectual property
- Marketing and advertising violations and disputes
- Terminating for transferring business
- Starting of a new business
- Consumer complaint
How to resolve commercial law disputes
Commercial law disputes can be solved through dispute resolution, unlike other fields of law like criminal law.
Various remedies involved in settling commercial law disputes depend on the type of conflict or violation involved.
The various remedies are as follows
- Monetary damages
- Remedies related to breach of contract like contract rescission
- Dispute resolution methods or business mediation
- Equitable remedies like the injunction
These remedies mainly depend upon the liable party. The liable party can be an average citizen or a commercial Merchant.
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Commercial law Branches
- Contract law: contract law regulates the enforcement and formation of contracts. It entails the important elements required in a valid contract. It also provided remedies to the parties if a breach of contract occurs.
- Business regulations: this law covers regulations and rules of the government framed for labor trade unions, factories, and business organizations
- Property law: this law focuses on transactions occurring in various kinds of properties. It includes rental of movable and immovable property, lease transfer, and sale of the property.
- Corporate Law: Corporate Law focuses on termination management and the formation of corporations. This law provides power to corporations. It provides legal formalities for the issues like acquisition and mergers, the redemption of shares, distribution of dividends, prevention of insider trading, raising capital, and the election of directors.
- Tax law: tax law includes indirect and direct taxes on business transactions as levied by the government. The primary type of tax law includes profit distribution, capital gain, gift, exercise, sales, and income taxes.
- Uniform commercial code: it is abbreviated as UCC, and it brings consistency in commercial law.
- Intellectual property law: it is known as umbrella law that provides patenting of copywriting and inventions of the creative work.
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Commercial long disputes can involve various statues and laws and can be complex ones.
Sometimes, a person facing commercial law issues might think of hiring a lawyer to resolve the disputes. If a person is dealing with commercial law issues, then he might hire a business law attorney.
Your lawyer may assist you with your claim by providing you with research and legal advice., The attorney can even represent the person in the court or may help him filing a lawsuit.
However, the commercial lawyer’s job is to make sure that the Organization conducts operations and Commerce according to the laws and regulations prevailing in the country in which they are operating.
Finally, we can see that commercial law plays an important key factor in the business’s success. Sometimes a query pops up in the candidate’s mind, can I pay for assignments and get it done by someone else.
This occurs when students want to achieve good grades in their assignments but cannot write themselves as they have to study for their online exam also.
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