Business law is enclosed with forming and operating business including rules and regulations. It is comprised of various laws that a business should follow in order to successfully manage business transactions. Law of business is surrounded with various laws such as laws regarding tax, laws regarding employment, laws regarding intellectual property, laws regarding bankruptcy, laws regarding licensing ETC. These laws have great impact on managing business operations and taking effective decisions. Growth and success of an organization is impossible without following these laws. To operate an organization in legal ways importance of these laws know no bounds. Therefore, it is obvious that business laws ensure security and safety of an organization. Violation of these laws must be prevented in each and every organization in order to achieve desired goals.
1.1 Applying the legal rules on implied terms relating to the sale of goods and supply of services:
There are certain laws regarding sale of goods and supply of services to ensure safety and security to the buyers. Provisions regarding sale of goods and supply of services come from Sale of Goods Act 1979 and the Supply of Goods and Services Act 1982.
Implied terms relating to sale of goods:
In a contract of sale of goods, certain terms are related. These terms are classified as implied or express. Express terms refer to those terms which are specific and which the contractual parties mutually determine. Implied terms are basically the opposite of express terms and terms are not certain. Implied terms (conditions and warranties) relating to sale of goods are following:
Title: This term deals with indicating the rights of a seller whether the goods can be sold by the seller. This can be referred as a condition.
Sale of goods by description: This term deals with consistency of goods according to its...