business law

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Any advice on getting my head round this. Figures are one thing but remembering all this.
It came up yesterday in my skills test,it through out the whole class as we had hardly touched upon it.

jr

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:business law

    My advice:

    Make a list of the 'Acts'. Then choose key phrases - then memorize these.
    Look for the overview, rather than the specifics.
    eg some are consumer-rights based, some are interactions with Bank, some interactions with other companies, etc.

    In essence, ('basically'... :lol: ) it is head down, slog, but there aren't really any shortcuts for this element of the course... Imagine what it would be like if you were doing a law course...
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:business law

    BUSINESS LAW

    A. Contract
    1. Intro
    Legal framework
    Legally binding agreement enforceable in court of law
    Written or oral
    Agreement with consequence - breach of contract
    eg incorrect price

    2. Agreement
    Offer
    - firm & clear to person, group, or world-at-large
    Invitation to Treat
    - transfer, and contract, legal at 'till'
    Termination of Offer
    - can only be accepted while open
    Acceptance of Offer
    - without conditions placed on acceptance
    Communication of Acceptance
    - could require specific media (eg letter, fax, verbal)
    Postal Rule
    - when posted

    3. Bargain - 'Consideration'
    Intro
    Passing of 'value' - eg money
    Promisor - seller
    Promisee - buyer
    Sufficient
    Value moves From Promisee (ie buyer)
    Effort cannot be in the past (ie effort after offer)

    4. Legal Relations
    Commercial agreements intended to be legal
    Social/Domestic not intended to be legal

    5. Breach of Contract
    Express Terms written into contract
    - binding on both parties
    Implied Terms not in contract
    - standard expected by custom
    Conditions essential parts of contract
    - breaking contract & go court
    Warranties minor terms
    - keeping contract & chase damages

    B. Statute Law
    1. Trades Descriptions Act
    False statements - goods for sale
    Misleading statements - services
    eg fiddling with mileage clock

    2. Sale Of Goods Act
    Satisfactory Quality
    - standard of reasonable person
    Fit For Purpose
    - do what supposed to do
    As Described
    - be what supposed to be

    3. Unfair Contract Terms Act
    Small print as unfair terms

    C. Data Protection Act 1998
    Computer files AND manual records
    1. fairly & lawful processing
    2. limited purposes
    3. adequate & relevant
    4. accurate
    5. destroyed when obsolete
    6. in line with subject's rights
    7. security
    8. not transferable outside EU

    Right of Access
    - apply in writing with fee
    Confidentiality
    - not disclose info about customers
    - not disclose info about employees

    D. Document Retention
    - 6 years for Accounts info
    - 3 years for payroll

    For Last Week Before Exams
    http://forums.aat.org.uk/forums/posts/list/13816.page#68556

    Quick-List Other Document-Handling (DPA, H & S, etc)
    http://forums.aat.org.uk/forums/posts/list/15/5678.page#67424

    (In Unit 4 skill test - Housestyles - I filled the answer box with advantages of using them. I can't remember very many now - eloquent speech, consistent layout, professional, etc. Erm... Donna?)

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