SOLUTION: PRLW 4181 German University Nominal Value & Values of Shares Quiz
BUSINESS LAW Date of submission: 13/06/2020 General Instructions: • Write the investigation quantity perspicuously for each solution in the solution subterfuge • Because this Rally is (open-size exam), the scholar can use all of his materials. He can use the vocabulary too. • The protraction of the Rally is (24) hours • Do not transcribe the investigation on the solution subterfuge. Transcribe singly the reckon of the investigation • To solution the investigations, do not representation and paste. You possess to transcribe in your own process. • The penalties for academic abandon (copying, cheating etc.) are keen and may include "F" action for an demonstration. 1 SECTION ONE: MARKS) (25 Answer the succeedingcited investigations: (Answer all of them) Note: The solution of each investigation must not consummate eight lines. 1. Saleh has a paltry provision. The consummate of this provision is (OMR 8000). Is Saleh a dealingsman? Why? 2. In the Shareholding Company, what are the disagreements floating the professed compute and the negotiate compute of the divide? 3. Discuss the succeedingcited recitement: (In the Limited Liability Company, the computes of the divides are equalized). 4. In adjust to employ the closing synods, there are some requirements should be fulfilled. What are they? 5. Discuss the succeedingcited recitement: (Omani Retail Law binds the dealingsman to conduct the day-size and the unconcealed ledger size for ten years). SECTION TWO: MARKS) (25 Four fiends (Ahmad, Ali, Salim and Mahmood) recurfissure a Joint-Liable Company. The succeedingcited box comprehends bisect of the acquiesce of the troop. Read the solution of the box and solution the questions. 1. The troop is recurfissure to labor in understanding. 2. The indicate of the troop is (the diamond for understanding and edifice materials) 3. Ahmad accomplish conduct-in (OMR 50.000). Ali accomplish conduct-in (OMR 50.000). Salim accomplish conduct-in a edifice to be a headquarter to the troop. The compute of this edifice is (OMR 50.000). Because Mahmood is a obliging engineer, he accomplish conduct-in his notice and apprehendledge in obliging engineering as a divide. 4. The benefit-benefit is nice according to the percentage of the bisectners in the consummate of the company. 5. The era of the troop is five years. Succeeding that, the troop put-an-end-tos. 6. The bisectners are bound jointly and idiosyncratically succeeding a whilein the assertionants of the troop. 7. If one of the bisectners wants to relinquish his divide to a stranger idiosyncratic, two of the other partners must acquiesce. 8. Each bisectner has fair to stay and inspect 2 the retail sizes of the troop. 9. Mahmood accomplish be the overseer for the troop. Answer the succeedingcited investigations: Note: The solution of each investigation must not consummate five lines. 1) Is there anything wickedness in the indicate of the troop? 2) Suppose that the troop becomes a borrower and disqualified to pay its defaults to the creditors. In this equalt, can the bisectners acquiesce to put-an-end-to the troop? Why? 3) Succeeding perishing the era which is declarationed in the acquiesce (the five years), can the partners avail this era? Explain. 4) The bisectners acquiesced that the benefit-benefit accomplish be nice according to the percentage of the divide of each bisectner in the consummate of the troop. But Mahmood does not possess percentage in the consummate consequently he conduct-ind benefit. Does that moderation he accomplish not get benefit-service? 3 BUSINESS LAW PRLW4181 By Dr. Maen Mohammad Ali Al-Qassaymeh What’s interjacent in the rally? • • • • Chapter one (the entrance) is interjacent. Chapter two (the retail activities and dealingsmans) is interjacent. Chapter filthy (the retail companies) is interjacent. So, you possess to examine and standpoint on three chapters singly." CHAPTER ONE INTRODUCTION Business Law is given to rale retail transactions and alliances. This law is exceptionalized in dealingsmans and retail activities, i.e. it is irrelative from the other branches of the law which possess irrelative signs. In adjust to apprehend the moderationing of occupation law and the truth of this law, we possess to specify the comcomposition of this law unmoulded the other branches of the law. This requires defining the law, in general, as a earliest march, and getting a plan encircling the divisions of the law. Definition of the law Generally, the law is defined as the collectiveness of synods and regulations that is used to dominate a collection and to rethrong the behavior of its members. Divisions of the Law The law is disconnected into two sections; national law and secret law. The national law moderations the law which rales the compositional relationships in which the recite is a bisecty. Meanwhile, the secret law is defined as the law which rales the compositional relationships unmoulded citizens and men-folks. Thereby, the test which discriminatees floating the national law and the secret law is the creature of the recite in the alliance, i.e. if the recite is a bisecty in the compositional alliance, the synods of national law are applied. Meanwhile, if the recite is not a bisecty in the constitutional alliance, the synods of secret law are applied. Divisions of National Law: Public law comprehends separate sections. They are: Public Interpolitical Law: It is the law which rales the kinsmen unmoulded recites. It to-boot regulates the kinsmen delay the interpolitical organizations. It is spirited in separate points such as; the atoms of the recites, the recite sway, how to produce the interpolitical treaties, the proceeds of the interpolitical treaties, accomplishment of the interpolitical treaties, interpolitical organizations, etc. Constitutional Law: It is the law which rales the produce of the recite, regime of the state, the national authorities in the recite, the harmony unmoulded these national authorities, the fairs of the citizens, etc. Thus, it clarifies if the recite is dominion, republic, or sultanate. It to-boot clarifies if the recite is subversive or non- subversive. Besides, this law rales the three authorities succeeding a whilein the country; judiciary, synod and the dominatement. Administrative Law: It is the law which rales the deed of the government, the bodies succeeding a whilein the recite, the fairs and the duties of the employees, etc. Criminal Law: This law comprehends synods and regulations for the crimes and the confirms for these crimes. This law comprehends a illustrious and apprehendn truth provides “no crime and no confirm delayout a provision”. Thus, this law is spirited in crimes and criminals. It rales the elements of these crimes and the confirms for them. Divisions of Secret Law: Private law comprehends separate sections. They are: Civil Law: It is the law which rales the alliances unmoulded individuals. It is considered a enhancement to the all ends which are not raled by a exceptional law. Therefore, if there is no synod regulates a restricted end, the Obliging Law is a intimation. for example, in the retail law, if there is compositional vacuum, we possess to appeal to the obliging law to quest for a synod rales that vacuum. Civil Law rales two archetypes of ends; the earliest archearchekind is the issues which narrate to secret aspects of the men-folks such as marriage, alienate, hereditament, etc. The prevent archearchekind is the issues which narrate to financial affairs such as the acquiesce and the oversight. The prevent archearchekind is the ocean axis in Omani Obliging Law. In Oman, the Obliging Law, which seizes the reckon 29, was endd in 2013. It comprehends 1086 Articles. They are nice unmoulded filthy books and preamble. While the earliest size rales the fountains of obligations, the prevent size rales the nominated acquiesces. The third and the filthyth sizes are given to rale the rights in rem. Commercial Law: It is the occupation law. It is defined as the collectiveness of synods which regulates the retail activities and the alliances unmoulded traders, or unmoulded dealingsmans and their dealers. This shows that the ocean axes in retail law are the dealingsmans and their activities. Omani Retail Law Reckon 55 was endd in 1990. It contains 786 Articles nice in five sizes. The earliest and the prevent sizes rale the activities of the dealingsman and his dealingbranch (shop). While the third size rales the retail contracts, the filthyth size is assigned to the bills of dealing. The fifth size is absorbed to the synods of closing. Beside this law, there are some other laws which are considered supplementary laws. The succeedingciteds are the supreme: • Troop Law No. 18 of 2019. • Retail Registry Law No. 3 of 1974. • Retail Agency Law No. 26 of 1977. • Security Companies Law No. of 12 of 1979. • Marispan Law No. 35 of 1981. • Consummate Negotiate Law No. 53 of 1988. • Industrial Goods Law No. 67 of 2008. Thus, Omani Retail Law No. 55 of 1990 and these laws are assigned to rale the dealingsman alliances and transactions. Accordingly, the sum of these laws is the occupation law. Private Interpolitical Law: It is the collectiveness of the synods which dominates the relationships which comprehend a stranger atom, i.e. this law appears as a outfollow of creature of kinsmen floating national idiosyncratic and stranger idiosyncratic. For example, if an Omani dealingsman sold pi to an Egyptian trader, which law dominates this harmony? Is it Omani Law or Egyptian Law? In restoration, if a controversy arises floating the bisecties, which pursue is suitable to arbitrator? Private interpolitical law standpointes on these two investigations; which law should be applied and which pursue is suitable to judge. To-boot these two investigations, this law rales the end of unity and the end of home. Sources of the Law: After we got a plan encircling the resistance of the law, a investigation arises; where do the synods of the law follow from? In other utterance, if a controversy arises floating two parties, how can the pursue meet the synod which should be applied floating them? In adjust to solution this investigation, it is significant to declaration that there are separate fountains to the synods of the law and each of these fountains has composition irrelative from the other. Accordingly, some fountains seize the ocean role and others seize preventary role. They are as follow: 1) Legislation: Legislation is considered the ocean fountain in Oman and to-boot in Arabic countries. It moderations: enhancement the compositional synods in a written produce by the suitable warrant. This process should be done according to the synods which are declarationed in the composition of the recite. Parliament is disconnected into three archetypes. The earliest one is the composition. It is the most significant law in the country. All other laws must acquiesce delay it. If there is any synod in any law contradicts delay the composition, that synod must be canceled or amended. The prevent archearchekind is the ordinary parliament which is issued by the synod. The third archearchekind is the regulations which are endd by the dominatement. 2) Islamic truths and edict Omani synod sets the Islamic truths and edict as a preventary fountain. This is declarationed in Art (1) of Omani Civil Law. It is to-boot declarationed in Art (5) of Omani Retail Law. But this Art declarations Islamic truths as a forth fountain succeeding the contract, parliament and habit. 3) Custom: It is the costive behavior which herd familiar to do. Thus, the habit follows from behavior. But the disagreement floating them is that the habit seizes an compulsory sign, i.e. if any idiosyncratic does not follow its synods, he accomplish be punished. This fountain is to-boot declarationed in Art (1) of Omani Obliging Law. These three fountains are considered unconcealed fountains for the law. However, Omani Retail Law compact them in a irrelative form. This appears perspicuously in Art (4 and 5) of this law which compact them as follow: the earliest fountain is the acquiesce, the prevent fountain is Omani Commercial Law and its supplementary laws, the third fountain is custom, the filthyth is Islamic edict and the decisive is the synods of justice. Thus, the acquiesce is the earliest fountain in Omani Retail Law. The synod in Oman marchs out of the unconcealed device in other countries which usually sets the parliament antecedently the acquiesce. Besides, the mentioned Articles assign the synods of fairness as a decisive fountain to which the pursue may appeal if there is no synod in the other fountains. CHAPTER TWO COMMERCIAL ACTIVITIES AND TRADERS SECTION ONE COMMERCIAL ACTIVITIES It is significant to discriminate floating the retail activities and the obligingian activities. This is consequently there are compositional proceeds built on this difference. But what are the criteria to discriminate the retail activities from others, and what are the compositional proceeds which outfollow from this difference? In adjust to solution these investigations, this bisect is disconnected into two sections; the earliest is encircling the concept of retail activities and the prevent is encircling the proceeds of difference floating the retail activities and the obligingian activities. Concept of retail activities There are separate criteria to discriminate floating the retail activities and the obligingian activities. But Art (8) of Omani Retail Law adopted one of them. It is the speculation test. Speculation moderations achieving benefit-service. So, if a idiosyncratic does an air delay plan to consummate profit, this air is considered retail air and the retail law dominates it. But if that idiosyncratic does not aim at achieving benefit-service, his air is considered obligingian and the Obliging Law dominates it. Accordingly, the test to discriminate the retail air from obligingian air is the fixed to consummate benefit-service, heedless of who does that activity. Beside this test, Art (9 and 10) of Omani Commercial Law declarationed some activities and assigned them retail activities. According to Art 9, The succeedingcited activities in bisecticular shall be reckoned to be retail activities: 1. The discount of goods and other accidental materials and non-accidental materials delay fixed to hawk them and consummate benefit-benefit whether sold in their primordial proviso or succeeding bring-about or change. 2. The discount of goods and other accidental materials and non-accidental materials delay fixed to engage them. Or, lease them delay fixed to sub-leasing them. 3. The sale, fissure or sub-leasing of the goods discountd or leased in the aforementioned form. 4. The discount of veritable erecite delay fixed to consummate benefit-benefit from the sale in its primordial proviso or succeeding resistance. And the sale of veritable erecite discountd delay such fixed. 5. Afford acquiesces. 6. Employment acquiesces. 7. National and secret banking affairs, money-changing activities and financial dealings. 9. Retail papers such as bills of substitute, promissory notes and stays. (all activities such as contrivance, acceptance, endorsement, counter-argument-for, etc) 10. The whole of retail companies and the sale or discount of their divides or bonds. 11. National warehouses and pledges on goods deposited therein. 12. The extraction of minerals, oils, rocks and other natural resource. 13. The manifold archetypes of security. 14. National sites and antecedent such as national playgrounds, cinemas, hotels, restaurants and auction rooms. 15. National benefit concessions such as the distribution of water, electricity, gas, postal communications, telecommunications and the enjoy. 16. Deportment via fix, sea and air. 17. Occupation agencies, tourism offices, averageing and export offices. 18. Activities narrated to printing, publishing, the throng, broadcasting and television, information or picture transmission, advertisements and the sale of sizes. 19. The whole of factories, equal if narrated to agricultural siege, and attempt to establish and bring-about. 20. Activities narrated to edifice and understanding and to altering, renovating and demolishing edifices. In restoration, According to Art 10, all activities narrated to marispan and air navigation shall be reckoned to be retail activities, bisecticularly: 1. The understanding of ships or aircrafts and the sale, purchase, engage, leasing or mend of them. 2. Contracts pertaining the salary and salaries of a ship's master and gang navigators of aircraft and all those employed thereon. 3. Lending and borrowing 4. Marispan and air deportment and all narrated processes such as the discount or sale of the necessarys thereof in provisions of afford, tools, stores, fuel, ropes, sails provisions and aircraft afford materials 5. The manifold archetypes of sea and air security Thus, these two Articles fixed clearly the retail activities heedless of the idiosyncratic who does them, indicately, whether he is dealingsman or obligingian. But to-boot these activities, there are some affairs shall be considered retail activities. They are the activities coupleed delay, or facilitating the activities declarationed in the antecedent Articles. They are circumventd ancillary retail activities. The ancillary retail activities, unconcealedly, possess a civilian truth. But they earn the retail sign consequently they end from a idiosyncratic who has retail sign and they narrate to his retail occupation. In other utterance, these activities are reckoned to be retail if two provisos are fulfilled. First, the air should end from a dealingsman. Second, the air should be coupleed delay the retail activities of that dealingsman. According to that, if a dealingsman labors in vestments bought sofas to his provision, this affair is considered retail air. This is consequently this affair is done by a dealingsman and his end is to better his provision, i.e. the affair is coupleed delay his occupation. But if this dealingsman bought the sofas to his branch, this affair is considered obligingian air. Effects of difference floating the Retail activities and the civilian activities. There are some outcomes follow from the difference floating the retail activities and the obligingian activities. They are as follow: 1) The borrowers are jointly-bound in the retail default. This moderations that the assertionant in the retail air can ask any of the borrowers encircling his fair. He to-boot can ask all of them concomitantly. So, if any of them bankrupted, the other borrowers accomplish pay instead of him and the assertionant accomplish not tolerate this closing. But in adjust to employ the joint-liability synod, the default should be low unmoulded the borrowers, i.e. the fountain of the default should be unified for the borrowers. However, the Art shows that the joint-liability is not an compulsory synod. So, the bisecties can acquiesce incorrectly. 2) Rules of declaration: The synods of declaration in the retail affairs are irrelative from those in the obligingian affairs. This is consequently commerce is installed on reputation and despatch. Accordingly, the parties, in retail activities, possess insubservience in the end of evidence, i.e. they can ascertain the affair by any process of evidence. Meanwhile, the obligingian affair is ascertainn singly by writing if the compute of the affair consummates a restricted expression. 3)No discount in retail air: It is abovementioned that the end of the retail activities is to consummate benefit-service. Consequently of that, there is no discount in the retail activities. Thus, if the bisecties of the acquiesce slighted to declaration motive, that does not moderation they signify to bring-about discount. Meanwhile, if they slighted to declaration the motive in a obligingian acquiesce, that may moderation that the bisecties signify to bring-about discount. 4) Acquisition of the dealingsman sign: If the idiosyncratic practices the retail activities, he may earn the retail sign. If he earns this character, then he has to do some compositional obligations. For example, he has to conduct retail sizes, annals in the retail registrar, etc. 5) Statute of expressionation: Statute of expressionation moderations that the pursue accomplish not receive any assertion succeeding perishing a restricted span, i.e. no compositional action accomplish be brought antecedently the pursue if a restricted span lapses. This span differs in retail activities from that in civilian activities. In retail activities, it is ten years. Meanwhile, in obligingian activities, it is fifteen years. SECTION TWO TRADER The dealingsman is defined in Art (16) of Omani Commercial Law as “Any idiosyncratic who engages in retail activities in his indicate, has the necessary compatability and adop ...
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