UK Commercial law Essay Example | Topics and Well Written Essays - 2500 words

UK Commercial law - Essay Example This essay will primarily cover the niceties of agency law governing the relationship between Iffy and Victor. It will also touch upon the sales law, both international and domestic, relating to the relationship between Iffy and the Chinese automotive seller and also with the UK car dealers. Because of the handicap of Iffy, having neither experience of dealing with the Chinese automotive industry nor any contacts therein, it will be necessary for them to hire the services of Victor by appointing him as their agent to deal with the Chinese in their stead for the delivery of a certain number of utility vehicles, spare parts and accessories. Indeed, this is so because a limited company can only act through its human agents,1 whether through its own directors, employees or through independent agents. I would prepare for Iffy the agency2 agreement, through which Victor will deal with the Chinese automotive executives, empowering him to negotiate and constitute a contract or contracts between Iffy and chosen Chinese auto manufacturing or dealer company or companies, as agent3 in the name of Iffy, together with the necessary instructions and document forms needed for the transactions. In the present case, I will be preparing the necessary documents to be signed by the proper company officers with the agent's conformity. The provisions of the agency agreement shall task Victor with negotiating and executing the necessary contracts for the importation of the chosen automobiles and effecting the proper secure means of delivery of the same vehicles to UK for distribution to sellers. In the present case, the agency agreement would oblige Victor to expressly name his principal, considering that there are no facts in the case that would tend to obstruct the consummation of the contract or contracts should the Chinese know of Iffy's identity. The agreement would also contain provisions on the required methods of shipping the vehicles and the means of payment. It is very crucial considering that the business transaction will be made outside of UK that the terms and conditions of the agency be expressly laid out in black and white. It is necessary for Iffy as principal to lay down the terms and conditions of the employment or to employ the agent in a specific position in the company in order for the tasks to be deducible from the very position itself. I would advise Iffy that the agency agreement between them and Victor binds both of them to the following consequences, in terms of rights and duties expressly imposed by law, jurisprudence and regulations: Iffy must remember that Victor has the following rights against them, which rights Victor can enforce in the proper judicial forum. 1. Right to remuneration4 - Victor will be entitled to the consideration based on the contract or in quantum meruit according to the extent of his performance of its terms. Furthermore, Victor as agent will be entitled to retainer or commission or royalty from Iffy for every vehicle imported even after the termination of the agency pursuant to common law rules and the Reg. 8, 1993 Commercial Agents (Council Directive).5 2. Right to indemnity - He will also be entitled to indemnity or restitution and refund

Intrapreneurial marketing plan Assignment Example | Topics and Well Written Essays - 1000 words

Intrapreneurial marketing plan - Assignment Example 140). The old method of identifying the demand and then, gathering organizational resources to fulfill is not at all applicable in the modern era of the 21st century. The information technology and internet has transformed the globe into a global village and therefore, the competition in every industry is cutthroat. The number of competitors in every field is mounting significantly (Keller pp.150). The level of competition killed those companies that attempted to identify the demand in the marketplace. In the contemporary organizational arena, the companies have to work towards fulfillment of customers’ psychological needs. The approach of celebrity endorsement has been conceptualized and developed in the light of Maslow’s theory as people like to attain attachment with famous people (McCracken pp. 315). Thusly, it can be established that psychological value is the most effective way of winning customer loyalty in the current times. But, the companies that can create so me new way to fulfilling the customer’s existing needs can do well as well because the people of modern world love creativity as the living standards are improving in all parts of the world simultaneously. The customers are finding innovative companies that have the capacity to meet their real needs in a different and unique manner. Additionally, it is also important to note that the modern clientele is reverting towards quality and the concept of psychological value is deforming with the passage of time. However, the world of consumerism is ending and the people are getting more and more interested in maximizing their utility with efficiency. But, one industry remained quite profitable in all periods and it is called the entertainment commerce (Moscardo and Pearce pp. 473). The work environment is getting increasingly challenging and therefore people attempt to spend their downtime in relaxing and enjoying. The notion of theme park is developed in order to give customers an opportunity to interact with their favorite cartoon characters. The entertainment industry is known to remain blooming in every possible economic conditions because people will always keep ending up tired and exhausted at the weekends and then, they will require some place to get rid of their tiredness. Therefore, it will be very fruitful to open a theme park based on famous film characters. The suggested model of theme park will supposedly be based on Star Trek The Next Generation that is a famous sci-fi Television series of 1980s. All of the American population is believed to be a fan of scientific movies and therefore, the idea will be purchased like hot cakes in the local marketplace. The industry of theme park is relatively slow in terms of absorbing new technologies whereas, it offers the greatest level of return on assets. In addition, the humans have a tendency to pay generously against the services that have the power and ability to alleviate work stress. Furthermore, the c ompany may have the luxury to outsource the operational level management and thusly, it will be able to make pure profit in the form of rent and royalty. The fear and threat of technological obsolesce is minimal in the featured industry. Moreover, the attractive level of financial returns will assist the company in bringing advance level technology change more rapidly and swiftly. The notion of psychological value will also be satisfied with the help of giving people a chance to interact with