Commercial Law & Legal Training Key Points

Commercial Law Key Points

• An escalation of law and order problems and unfortunate things happening in Bucha can add additional costs to businesses.
• When law and order become a problem, any responsible government must hear and quickly address these issues.
• Escalations impact businesses and consumers.
• Government regulation might be considered if people become irresponsible.
• The government may regulate social media usage, potentially making an NID compulsory for users.
• Restricting and regulating access to news is considered rather than prohibition

English Proficiency and Legal Training

• The legal training institute requires law graduates entering LTI to sit for English proficiency tests.
• Law students and graduates sometimes exhibit poor English skills.
• Command of the English language is a criterion for marketing assessments
• Poor English could result in penalization or a failing grade.
• Lectures, assessments, law books, and judgments are in English,
• The justification of English not being a first language is unacceptable.
• Law graduates must pay 1300 for the IELTS test to enter LTI.

Legal Action and Privacy

• Legal action is ongoing regarding breaches of privacy.
• Hacking into systems raises concerns about the personal information of taxpayers being compromised.
• Examples are massive hacking in Australia and Telstra Hacking.
• There is a discussion about screenshots of posts.
• Government will make compulsory for every person using the social media that have an NID for example

Commercial Law Concepts

• A Cameron Peter elevated is an actual company that is based in Brisbane
• Factual scenarios involve the law of contracts and sometimes involves the law of agency

International Transactions and Law

• International transactions may require international sale of goods.
• Issues of which law should apply to international sale of goods transaction arises, with options being international conventions or domestic laws.
• Papua New Guinea (PNG) is not a member of the United Nations Convention on Contracts for the International Sale of Goods, while Australia is.
• A good then also deals with insurance law, of course, because you going to transport this good ship, this good from australia to PNG, who is going to be responsible for insurance cover and the goods in the event that they get lost in sea
• Legal issues also deal with private international law and conflicts of law.
• Parties in a contract can elect to apply the laws of a third country.
• Arbitration clauses are common in international contracts as a compulsory process before court action.

Business Entities and Contract Law

• Parties must keep any disclosure or private information about between the companies secure and unauthorized
• In commercial transactions, it is important to understand types of entities.
• It's very important to note who has the authority to bind a company to a contract.
• This includes shareholders, directors, company secretary or general manager.
• Issues of taxation may arise in transactions, like GST.
• Commercial transactions involve different areas of the law and one need to be competent
• Commercial transactions involve complexities and different areas of the law.
• The course will cover negotiable instruments, payment for goods and services, insurance and intellectual property.

Agency

• A law of agency includes a relationship of trust and confidence between the principal and the agent
• Legal issues also arise from negligence and law of torts
• Agent may be exposing to liabilility and thus will expose the principle too
• An agent has equity and care for the principle

Competition Law and Market Dynamics

• Competition law can also be called anti-trust law
• Competition law refers to the conducrt of businesses or entities in a chosen market.
• Business entities operationg in a specific market may either monopolize it or have a substantial market share.
• The potential for people to abuse the market power is of interest in the law.
• Such could lead to an anti competitive conduct which is detrimental to other persons who can also enter the market or other competitors.
• Consumers suffer when this happens
• Standards and services will drop while consumers will have to pay a higher price by then.
• Competition laws are designed to regulate the conduct of businesses in a free market
• Industries that have the most competition will have prices that will usually come down
• When companies have a monopoly is could basically hike the price and consumers have no choice but to pay an higher price
• With the import of Paradice beer tryong to enter the market will bring the prices down which will allow them to compete
• They can't compete against SB beer because its so cheap

Airline Industry

• Air phase always goes very high
• Airline business is one of the most expensive businesses in the world
• Costs are usually very high
• Air Force are basically fought by market forces which depends on market
• With smaller airlines they are unable to compete at that level as basically too difficult and expensive
• Philipines is a very laarge airline compared to New Guinea with the abilility to have interntaional business networks to afford the cheaper priceds
• Unlike New Guinea which is basically to import everything causing the cost

Sovereignty

• One British Politician comments that USA has no regard for sovereignty for other nations when they are after large American Corporations beyond the borders of us

Education

• Must never slack enough
• Lack of trasparency and accountability compromises education
• Must adhere to University's Academic Rules
• Not using correct methods during lectures compromise standards of education
• State owned enterprises lead to poor management and governance

Business Organizations

• So you need to know that what sort of organization you're dealing with
• Need to what sort of entity you're dealing with
• It is important to understand the source of organization that one is involved with
• It is important to know what power the company has to enter into a contract
• It is important to understand if the company does have capacity to enter into a contract
• First needed to make sure company is registered
• The companies once incorporated assume a separate personality, independent of its shareholders and its directors and offices of the companies
• You cannot speak or toucn or feel the company
• Each one needs to know the directors and share holders
• The important thing is the board of directors and not the CEO or General Manager
• The company entity in contract
• The first in any commercial transactions to know what sort of business entity with the law, company law
• Important to know the trustees in the office
• Companies most preferred entity in investment.

Companies

• Can insulate themselves from liability
• Seperate personality that can be independent Shareholders and directors
• Each shareholder must separate
• Capactity to enter into a contract
• Can hold and dispose of properties
• Capacity to sue and be sued in its corporate name
• It assured owns own liabililities
• Capable of borrowing money from the bank
• The bank has capacity to take action against company and not Shareholders.
• Director maybe personally be lied for breach of duties

Key points on commercial law's impact on businesses and consumers, including potential government regulations. Also covers the importance of English proficiency in legal training, highlighting requirements and potential consequences for poor language skills.