Legal Factors Flashcards
What is the national minimum wage?
The minimum pay per hour that workers are entitled to by law, it is reviewed yearly by the government. The rate for each age group is different
What is the National Living Wage?
A pay rate for those aged 25 and over
What is the consumer rights act of 2015?
The goods you buy must be of a satisfactory quality, fit for purpose and match their description
What are the consequences for failing to comply with the consumer rights act?
Fines, bad reputation, compensation to the customer, reimbursement to the customer
What is intellectual property?
Intangible property that is the result of creativity
What is a trademark?
A company can register for a trademark for its business logo, slogan, name and other things that specifically identifies with that brand
What is meant by copy right?
Legal protection against copying for authors, composers and artists.
What are the consequences for not complying with the right to intellectual property, trademarks, copyright
Compensations, court settlements, legal costs
What is contract law?
A Legally binding agreement between two or more parties; the contract is binding in both parties
What are the consequences for breaking contract law?
Compensation so the aggrieved party can recover damages
What is the weights and measures act of 1985?
A business can not give “short measures” or an incorrect indication of how much of a good is on sale
What are the consequences for breaking the weights and measures act?
The business can be taken to court and bad reputation
What is the Data Protection Act of 1988?
Controls how businesses use and store customers and employees personal information
What are the consequences for not complying with the data protection act?
Fines up to £500,000 and a negative reputation
What is the health and safety act of 1974?
Businesses have a “duty to take reasonable care of their employees”
What are the consequences for not complying with the health and safety act?
Court case and compensation and rectify any breaches made
What is the smoking in the workplace act of 2007?
Public places used by more than one person are smoke free zones, smoking rooms are not allowed, smoking can only be done off the premises
What are the consequences for breaching the smoking in the workplace act?
Prosecution and fines
What is planning legislation?
You need to have permission granted if you want to build or change the use of a property
What would happen if someone didn’t have planning permission and build or changed the use of a building?
An enforcement notice would be given
What is an enforcement notice?
The person who breached planning permission will have to reverse what they did or appeal it
What does the FCA stand for?
Financial Conduct Authority
What do the FCA do?
Regulate 59,000 financial service firm businesses in the UK
How do the FCA protect customers?
Provide information and letting customers know their rights
