Business Law: A Comprehensive Summary

Any contract requires a valid offer, supported by an unequivocal acceptance. In this introductory lesson, we will look at the requirements of Agreement and how to identify what amounts to an offer as opposed to 'invitations to treat', mere requests for information and counter offers.

An agreement becomes a contract on the passing of Consideration. What amounts to Consideration and what circumstances affect its validity? This lesson explores the fundamental principles governing what McKendrick calls 'the badge of enforceability'

A Contract is valid in most instances that a valid Agreement and Consideration is in place. However, there are a number of incidental, related factors that may establish doubt. In this lesson, we look at a few such cursory requirements.

Contracts are based on legally binding obligations between parties. These obligations are categorised on its importance to the Contract itself. In this lesson, we will consider this distinction, what amounts to a breach and how parties may limit or exclude liabilities for such breach.

Contracts are often entered into based on the reliance on statements made by individuals. However, when such statements are not factually correct, the contractee will usually have no redress within the Contract (as it doesn't form part of the terms). In this lesson, we will look at the actionability of claims based on representations made by parties, prior to entering into the Contract.

We begin our deep dive into Commercial Law by understanding the concept of Agency and how companies are able to delegate authority to employees or third parties to act on their behalf.

Authority determines the difference between a legal contract being entered into and one which is not, in relation to an Agent. This lesson explores an overview of how such authority manifests itself.

Where no express authority exists, a fundamental method of establishing authority is by way of Estoppel, where the authorizer is unable to resile from having given authority.

At times, a Principal may opt to retroactively provide authority. In this lesson on Ratification, we will consider the circumstances which afford such actions.

An Agent's primary fiduciary obligation requires him/her to act for the good of the Principal. At times, this may lead to the requirement of taking steps outside of authority. Necessity will consider such 'emergency' circumstances.

Agents may create contracts with third parties on behalf of his/her Principal. In this lesson, we will consider the extent of such relationships.

During default, a third party may opt to sue either the Agent, Principal or both in some instances. Merger & Election will consider in what circumstances, this action is possible.

At times, a third party may be unaware that he/she is dealing with an Agent. In this lesson, we will consider the effect of such Undisclosed Agencies.

An Agency relationship invokes a fiduciary obligation between Agent and Principal. These Duties owed by the Agent towards the Principal are considered herein.

As much as an Agent owes certain duties, so too does a Principal. From remuneration to honoring of contracts, these are the fundamental duties owed by a Principal to the Agent.

An Agency relationship is one which is finite. In this lesson, we will consider the means by which it may come to an end, both automatically and expressly.

Commercial Law primarily deals with relationships established contractually between parties, specifically in commerce and trade. In this introductory lesson, we will explore the concepts surrounding Sale of Goods.

The operation of Sale of Goods is steeped solely in certainty. Thus, definitions are not just accepted but mandatory. Here are a few such definitions that are fundamental to the understanding of the concepts of Sale of Goods.

Goods oscillate between a number of 'states' and the determination of this will ensue the obligations of both the buyer and the seller at any given moment. In this lesson, we will consider a number of 'states' that goods may be in.

Post-1978, the UK adoption of the Sale of Goods Act 1979 has seen many safeguards being places to protect buyers and to regulate the Sale and Supply of Goods. However, this is not the only piece of legislation enacted in the pursuit of this end.

When does the right of ownership relinquish from the seller and transfer to the buyer? This lesson explores that concept.

The passing of risk, determines liability. This lesson outlines the nuances attaching to that premise.

In order to safeguard the interests of parties, specifically in relation to the transfer of ownership prior to payment, provisions such as the 'Retention of Title' are considered. In this lesson, we will consider the merits and demerits of such clauses in a contract of sale.

In this introductory lesson, we will explore the type of Intellectual Property considered in this course, including a summary of its enforceability.

The most widely adopted and automatically established form of Intellectual Property is Copyright, which fundamentally protects creative works. In this lesson, we begin our deep dive into it.

Copyright amounts to not only protection of one's work but also the ability to monetize it. In this lesson, we will explore the economic rights of the Copyright holder.

Similar to economic rights, the owner of Copyright is also able to limit the use-cases of his creation.

Any three-dimensional or physical good that is of unique character is protectable under Industrial Design. In this lesson, we will consider an overview of how such rights can be established.

Much like Copyright, the owner of an Industrial Design has a number of rights which he/she may exploit. This lesson considers 'what' and 'how' those rights are enforced.

An innovation which is unique in character and application amounts to one which is protectable under Patent Law. In this and the proceeding lesson, we will consider the nuances surrounding Patents.

In this lesson, we will continue and conclude our lesson on Patents bu considering the rights allotted to the owner of the Patent.