SOLUTION: PRLW 4181 German University Nominal Value & Limited Liability Company Exam
BUSINESS LAW Date of submission: 13/06/2020 General Instructions: • Write the topic bulk plainly for each rejoinder in the rejoinder prevarication • Because this Ridicule is (open-compressiveness exam), the tyro can use all of his materials. He can use the wordcompressiveness too. • The space of the Ridicule is (24) hours • Do not transcribe the topic on the rejoinder prevarication. Transcribe barely the calculate of the topic • To rejoinder the topics, do not representation and paste. You feel to transcribe in your own way. • The penalties for academic abandon (copying, cheating etc.) are exact and may include "F" gait for an trial. 1 SECTION ONE: MARKS) (25 Answer the subjoined topics: (Answer all of them) Note: The rejoinder of each topic must not excel eight lines. 1. Saleh has a inferior abundance. The high of this abundance is (OMR 8000). Is Saleh a significanceer? Why? 2. In the Shareholding Company, what are the destructions betwixt the constructal appreciate and the bargain appreciate of the divide? 3. Discuss the subjoined narratement: (In the Limited Liability Company, the appreciates of the divides are equalized). 4. In ordain to exercise the closing administrations, there are some requirements should be fulfilled. What are they? 5. Discuss the subjoined narratement: (Omani Marketable Law binds the significanceer to protect the day-compressiveness and the low ledger compressiveness for ten years). SECTION TWO: MARKS) (25 Four fiends (Ahmad, Ali, Salim and Mahmood) constructal a Joint-Liable Company. The subjoined box comprehends sunder of the construct of the concourse. Read the space of the box and rejoinder the questions. 1. The concourse is constructal to operation in giveing. 2. The designate of the concourse is (the diamond for giveing and structure materials) 3. Ahmad conciliate conduct-in (OMR 50.000). Ali conciliate conduct-in (OMR 50.000). Salim conciliate conduct-in a structure to be a headquarter to the concourse. The appreciate of this structure is (OMR 50.000). Because Mahmood is a accommodating engineer, he conciliate conduct-in his acquaintance and experiment in accommodating engineering as a divide. 4. The emolument is nice according to the percentage of the sunderners in the high of the company. 5. The conclusion of the concourse is five years. Behind that, the concourse stops. 6. The sunderners are subject jointly and peculiarally toward the rightants of the concourse. 7. If one of the sunderners wants to relinquish his divide to a stranger peculiar, two of the other partners must tally. 8. Each sunderner has upupfair to stay and inspect 2 the marketable compressivenesss of the concourse. 9. Mahmood conciliate be the superintendent for the concourse. Answer the subjoined topics: Note: The rejoinder of each topic must not excel five lines. 1) Is there everything evil-doing in the designate of the concourse? 2) Suppose that the concourse becomes a borrower and insufficient to pay its rights to the creditors. In this state, can the sunderners tally to stop the concourse? Why? 3) Behind latter the conclusion which is remarked in the construct (the five years), can the partners enlarge this conclusion? Explain. 4) The sunderners tallyd that the emolument conciliate be nice according to the percentage of the divide of each sunderner in the high of the concourse. But Mahmood does not feel percentage in the high consequently he conduct-ind benefit. Does that medium he conciliate not get emolument? 3 BUSINESS LAW PRLW4181 By Dr. Maen Mohammad Ali Al-Qassaymeh What’s interposed in the ridicule? • • • • Chapter one (the induction) is interposed. Chapter two (the marketable activities and significanceers) is interposed. Chapter indelicate (the marketable companies) is interposed. So, you feel to examine and centre on three chapters barely." CHAPTER ONE INTRODUCTION Business Law is loving to organize marketable transactions and kindred. This law is peculiarized in significanceers and marketable activities, i.e. it is incongruous from the other branches of the law which feel incongruous qualitys. In ordain to perceive the mediuming of affair law and the kind of this law, we feel to specify the aspect of this law unformed the other branches of the law. This requires defining the law, in general, as a highest plod, and getting a scheme environing the divisions of the law. Definition of the law Generally, the law is defined as the collectiveness of administrations and regulations that is used to manage a connection and to govern the behavior of its members. Divisions of the Law The law is separated into two sections; low law and individual law. The low law mediums the law which organizes the legitimate relationships in which the narrate is a sundery. Meanwhile, the individual law is defined as the law which organizes the legitimate relationships unformed citizens and beings. Thereby, the touchstone which dissimilatees betwixt the low law and the individual law is the being of the narrate in the relevancy, i.e. if the narrate is a sundery in the legitimate relevancy, the administrations of low law are applied. Meanwhile, if the narrate is not a sundery in the legitimate relevancy, the administrations of individual law are applied. Divisions of Low Law: Public law comprehends separate sections. They are: Public Interdiplomatic Law: It is the law which organizes the kindred unformed narrates. It to-boot regulates the kindred behind a while the interdiplomatic organizations. It is careful in separate points such as; the atoms of the narrates, the narrate sovereignty, how to construct the interdiplomatic treaties, the wealth of the interdiplomatic treaties, remainder of the interdiplomatic treaties, interdiplomatic organizations, etc. Constitutional Law: It is the law which organizes the construct of the narrate, regime of the state, the low authorities in the narrate, the relevancy unformed these low authorities, the uphues of the citizens, etc. Thus, it clarifies if the narrate is actualm, republic, or sultanate. It to-boot clarifies if the narrate is popular or non- popular. Besides, this law organizes the three authorities behind a whilein the kingdom; judiciary, convention and the management. Administrative Law: It is the law which organizes the deed of the government, the bodies behind a whilein the narrate, the uprights and the duties of the employees, etc. Criminal Law: This law comprehends administrations and regulations for the crimes and the confirms for these crimes. This law comprehends a renowned and perceiven origin provides “no crime and no confirm behind a whileout a provision”. Thus, this law is careful in crimes and criminals. It organizes the elements of these crimes and the confirms for them. Divisions of Individual Law: Private law comprehends separate sections. They are: Civil Law: It is the law which organizes the kindred unformed individuals. It is considered a enhancement to the all wealth which are not organized by a peculiar law. Therefore, if there is no administration regulates a peculiar effect, the Accommodating Law is a allusion. for example, in the marketable law, if there is legitimate vacuum, we feel to associate to the accommodating law to quest for a administration organizes that vacuum. Civil Law organizes two stamps of wealth; the highest stamp is the issues which rehearse to individual aspects of the beings such as marriage, disconnect, bequest, etc. The relieve stamp is the issues which rehearse to financial actions such as the construct and the oversight. The relieve stamp is the ocean axis in Omani Accommodating Law. In Oman, the Accommodating Law, which uses the calculate 29, was effectd in 2013. It comprehends 1086 Articles. They are nice unformed indelicate books and introduction. While the highest compressiveness organizes the commencements of obligations, the relieve compressiveness organizes the nominated constructs. The third and the indelicateth compressivenesss are loving to organize the hues in rem. Commercial Law: It is the affair law. It is defined as the collectiveness of administrations which regulates the marketable activities and the kindred unformed traders, or unformed significanceers and their dealers. This shows that the ocean axes in marketable law are the significanceers and their activities. Omani Marketable Law Calculate 55 was effectd in 1990. It contains 786 Articles nice in five compressivenesss. The highest and the relieve compressivenesss organize the activities of the significanceer and his employmentoffspring (shop). While the third compressiveness organizes the marketable contracts, the indelicateth compressiveness is assigned to the bills of employment. The fifth compressiveness is fond to the administrations of closing. Beside this law, there are some other laws which are considered supplementary laws. The subjoineds are the supreme: • Concourse Law No. 18 of 2019. • Marketable Registry Law No. 3 of 1974. • Marketable Agency Law No. 26 of 1977. • Security Companies Law No. of 12 of 1979. • Mariage Law No. 35 of 1981. • High Bargain Law No. 53 of 1988. • Industrial Wealth Law No. 67 of 2008. Thus, Omani Marketable Law No. 55 of 1990 and these laws are assigned to organize the significanceer kindred and transactions. Accordingly, the sum of these laws is the affair law. Private Interdiplomatic Law: It is the collectiveness of the administrations which manages the relationships which comprehend a stranger atom, i.e. this law appears as a remainder of being of kindred betwixt open peculiar and stranger peculiar. For example, if an Omani significanceer sold pi to an Egyptian trader, which law manages this relevancy? Is it Omani Law or Egyptian Law? In significanceation, if a challenge arises betwixt the sunderies, which pursue is fitted to arbitrator? Private interdiplomatic law centrees on these two topics; which law should be applied and which pursue is fitted to judge. Too these two topics, this law organizes the effect of openity and the effect of residence. Sources of the Law: After we got a scheme environing the disruption of the law, a topic arises; where do the administrations of the law succeed from? In other articulation, if a challenge arises betwixt two parties, how can the pursue invent the administration which should be applied betwixt them? In ordain to rejoinder this topic, it is dignified to remark that there are separate commencements to the administrations of the law and each of these commencements has aspect incongruous from the other. Accordingly, some commencements use the ocean role and others use relieveary role. They are as follow: 1) Legislation: Legislation is considered the ocean commencement in Oman and to-boot in Arabic countries. It mediums: contrast the legitimate administrations in a written construct by the fitted instance. This progress should be effected according to the administrations which are remarked in the quality of the narrate. Congress is separated into three stamps. The highest one is the quality. It is the most dignified law in the kingdom. All other laws must tally behind a while it. If there is any administration in any law contradicts behind a while the quality, that administration must be canceled or amended. The relieve stamp is the natural congress which is issued by the convention. The third stamp is the regulations which are effectd by the management. 2) Islamic origins and comp Omani convention sets the Islamic origins and comp as a relieveary commencement. This is remarked in Art (1) of Omani Civil Law. It is to-boot remarked in Art (5) of Omani Marketable Law. But this Art remarks Islamic origins as a forth commencement behind the contract, congress and habit. 3) Custom: It is the stringent behaviors which idiosyncratics conversant to do. Thus, the habit succeeds from behaviors. But the destruction betwixt them is that the habit uses an unbefitting quality, i.e. if any peculiar does not follow its administrations, he conciliate be punished. This commencement is to-boot remarked in Art (1) of Omani Accommodating Law. These three commencements are considered low commencements for the law. However, Omani Marketable Law finished them in a incongruous behavior. This appears plainly in Art (4 and 5) of this law which finished them as follow: the highest commencement is the construct, the relieve commencement is Omani Commercial Law and its supplementary laws, the third commencement is custom, the indelicateth is Islamic comp and the definite is the administrations of justice. Thus, the construct is the highest commencement in Omani Marketable Law. The convention in Oman plods out of the low management in other countries which usually sets the congress anteriorly the construct. Besides, the mentioned Articles give the administrations of impartiality as a definite commencement to which the pursue may associate if there is no administration in the other commencements. CHAPTER TWO COMMERCIAL ACTIVITIES AND TRADERS SECTION ONE COMMERCIAL ACTIVITIES It is dignified to dissimilate betwixt the marketable activities and the accommodatingian activities. This is consequently there are legitimate wealth built on this separation. But what are the criteria to dissimilate the marketable activities from others, and what are the legitimate wealth which remainder from this separation? In ordain to rejoinder these topics, this sunder is separated into two sections; the highest is environing the concept of marketable activities and the relieve is environing the wealth of separation betwixt the marketable activities and the accommodatingian activities. Concept of marketable activities There are separate criteria to dissimilate betwixt the marketable activities and the accommodatingian activities. But Art (8) of Omani Marketable Law adopted one of them. It is the speculation touchstone. Speculation mediums achieving emolument. So, if a peculiar does an essence behind a while scheme to conclude profit, this essence is considered marketable essence and the marketable law manages it. But if that peculiar does not aim at achieving emolument, his essence is considered accommodatingian and the Accommodating Law manages it. Accordingly, the touchstone to dissimilate the marketable essence from accommodatingian essence is the urgent to conclude emolument, disregarding of who does that activity. Beside this touchstone, Art (9 and 10) of Omani Commercial Law remarked some activities and giveed them marketable activities. According to Art 9, The subjoined activities in sundericular shall be reputed to be marketable activities: 1. The forfeiture of consequence and other divisible materials and non-divisible materials behind a while urgent to retail them and conclude emolument whether sold in their primary state or behind manipulation or transmutation. 2. The forfeiture of consequence and other divisible materials and non-divisible materials behind a while urgent to commission them. Or, lease them behind a while urgent to sub-leasing them. 3. The sale, fissure or sub-leasing of the consequence forfeitured or leased in the aforementioned behavior. 4. The forfeiture of actual enarrate behind a while urgent to conclude emolument from the sale in its primary state or behind disruption. And the sale of actual enarrate forfeitured behind a while such urgent. 5. Minister constructs. 6. Employment constructs. 7. Low and individual banking actions, money-changing activities and financial dealings. 9. Marketable papers such as bills of modify, promissory notes and stays. (all activities such as intent, acceptance, endorsement, insure, etc) 10. The state of marketable companies and the sale or forfeiture of their divides or bonds. 11. Low warehouses and pledges on wealth deposited therein. 12. The nativity of minerals, oils, rocks and other natural resource. 13. The different stamps of security. 14. Low sites and ground such as low playgrounds, cinemas, hotels, restaurants and auction rooms. 15. Low advantageousness concessions such as the disposal of water, electricity, gas, postal communications, telecommunications and the relish. 16. Walk via place, sea and air. 17. Affair agencies, tourism offices, significance and export offices. 18. Activities rehearsed to printing, publishing, the compress, broadcasting and television, tidings or picture transmission, advertisements and the sale of compressivenesss. 19. The state of factories, level if rehearsed to agricultural investment, and attempt to establish and manipulation. 20. Activities rehearsed to structure and giveing and to altering, renovating and demolishing structures. In significanceation, According to Art 10, all activities rehearsed to mariage and air navigation shall be reputed to be marketable activities, sundericularly: 1. The giveing of ships or aircrafts and the sale, purchase, commission, leasing or mend of them. 2. Contracts pertaining the compensation and salaries of a ship's master and swarm navigators of aircraft and all those employed thereon. 3. Lending and borrowing 4. Mariage and air walk and all rehearsed processes such as the forfeiture or sale of the defectives thereof in stipulations of food, tools, stores, fuel, ropes, sails stipulations and aircraft minister materials 5. The different stamps of sea and air security Thus, these two Articles precise precisely the marketable activities disregarding of the peculiar who does them, designately, whether he is significanceer or accommodatingian. But too these activities, there are some actions shall be considered marketable activities. They are the activities joined behind a while, or facilitating the activities remarked in the prior Articles. They are determined adjuvant marketable activities. The adjuvant marketable activities, lowly, feel a civilian kind. But they obtain the marketable quality consequently they effect from a peculiar who has marketable quality and they rehearse to his marketable affair. In other articulation, these activities are reputed to be marketable if two states are fulfilled. First, the essence should effect from a significanceer. Second, the essence should be joined behind a while the marketable activities of that significanceer. According to that, if a significanceer operations in clothing bought sofas to his abundance, this action is considered marketable essence. This is consequently this action is effected by a significanceer and his aim is to rectify his abundance, i.e. the action is joined behind a while his affair. But if this significanceer bought the sofas to his offspring, this action is considered accommodatingian essence. Effects of separation betwixt the Marketable activities and the civilian activities. There are some remainders succeed from the separation betwixt the marketable activities and the accommodatingian activities. They are as follow: 1) The borrowers are jointly-subject in the marketable right. This mediums that the rightant in the marketable essence can ask any of the borrowers environing his upright. He to-boot can ask all of them unitedly. So, if any of them bankrupted, the other borrowers conciliate pay instead of him and the rightant conciliate not submit-to this closing. But in ordain to exercise the joint-liability administration, the right should be low unformed the borrowers, i.e. the commencement of the right should be unified for the borrowers. However, the Art shows that the joint-liability is not an unbefitting administration. So, the sunderies can tally otherwise. 2) Rules of sign: The administrations of sign in the marketable actions are incongruous from those in the accommodatingian actions. This is consequently commerce is naturalized on security and hurry. Accordingly, the parties, in marketable activities, feel insubservience in the effect of evidence, i.e. they can show the action by any way of evidence. Meanwhile, the accommodatingian action is shown barely by writing if the appreciate of the action excels a peculiar season. 3)No remittance in marketable essence: It is abovementioned that the aim of the marketable activities is to conclude emolument. Consequently of that, there is no remittance in the marketable activities. Thus, if the sunderies of the construct slighted to remark compensation, that does not medium they signify to perform remittance. Meanwhile, if they slighted to remark the compensation in a accommodatingian construct, that may medium that the sunderies signify to perform remittance. 4) Acquisition of the significanceer quality: If the peculiar practices the marketable activities, he may obtain the marketable quality. If he obtains this character, then he has to do some legitimate obligations. For example, he has to protect marketable compressivenesss, proceedings in the marketable registrar, etc. 5) Statute of seasonation: Statute of seasonation mediums that the pursue conciliate not receive any right behind latter a peculiar age, i.e. no legitimate action conciliate be brought anteriorly the pursue if a peculiar age lapses. This age differs in marketable activities from that in civilian activities. In marketable activities, it is ten years. Meanwhile, in accommodatingian activities, it is fifteen years. SECTION TWO TRADER The significanceer is defined in Art (16) of Omani Commercial Law as “Any peculiar who engages in marketable activities in his designate, has the defective compressiveness and adop ...
Purchase rejoinder to see full attachment
Purchase rejoinder to see full attachment