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BUS 393 (75)

CHAPTER 5 legislation in the marketplace.docx

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Simon Fraser University
Business Administration
BUS 393
Robert Adamson

CHAPTER 5: Legislation in the market place - Challenges of operating internationally o Contracts/arbitration o Different laws (employment, int’l partners, selling shares) - Process to resolve disputes in business o Negotiation, mediation, arbitration, litigation + courts, settlement - Function +form of sale of goods act o Goods must be transferred/sold o Risk follows title EXCEPT:  CIF (const, insurance, freight), FOB (free on board), Bill of lading) - Duties of sellers and buyers o Seller:  To deliver good title  Deliver quiet possession  Deliver goods free of liens  Must match description/sample  Merchantable quality  Must be fit for purpose purchased  Limited warranties try to override these obligations  Exemption clauses may limit liability  DEFAULT: seller can stop goods in transit  BANKRUPTCY: seller limited right to recover goods - Nature and purpose of consumer protection legislation o Consumer: someone who purchases product for own use, not for resale or use in business activity o Provincial:  Consumer goods = minimum quality  Misleading/
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