Business Law Flashcards
What is business/commercial law?
Law governing the rights, relations, and conduct of persons and business engaged in commerce, merchandising, trade and sales.
What is Civil law?
Deals with non-criminal issues such as disputes between people, organisations & other bodies
What is criminal law?
Law that deals with crime and punishment - anything that is illegal
What is the H&S at Work Act, 1974?
Employees must take care of themselves and cooperate with others, and report any H&S shortcomings.
Manufacturers, suppliers and employers must ensure the safety of anything they produce and anybody working under their command.
How is H&S enforced?
By the H&S executive
- enter premises, inspect documents and premises, require people to answer questions, issue notices
What is the BS regarding H&S and what does is do?
BS 18001 Sets out requirements for the H&S practices of all businesses. Provides guidance on creating a H&S framework - Commitment/Planning - Planning - Implementation/Operation - Checking - Auditing - Management Review
What does ALARP mean?
What does SFAIRP mean?
As Low As Reasonably Possible
So Far As Is Reasonably Practicable
What is the Sale Of Goods Act (SOGA)?
An agreement between the seller and buyer that any pre-agreed terms are met and the following terms are met (implied through sale):
- Items match description
- Items of acceptable quality
- Items fit for purpose
- Items match ‘sample’ quality
What happens if the SOGA is breached?
Seller of goods is liable irrespective of due diligence
A shop is liable if the goods are sold in boxes/cans
Financial loss and injury can be claimed
What is the Consumer Protection Act (CPA)?
Death, Injury and damage (>£250) is covered.
What are the General Product Safety Regulations (GPSR)?
Producers cannot put unsafe products on the market
Distributors cannot distribute unsafe products
The producer should highlight any dangers of using a product and develop means for risks to be identified about product sale
Penalties of the GPSR?
Fine or imprisonment
What is Failure Mode & Effects Analysis (FMEA)?
Identification and understanding of failure modes and their effects.
What is Corporate law?
Law governing how stakeholders, directors, employees, creditors and other stakeholders such as consumers, the community and the environment interact with one another.
