Business law - SS2 Commerce Past Questions and Answers - page 1
Which branch of business law focuses on the legal relationship between employers and employees?
Law of Contract
Agency
Employment
The law of contract deals with:
Buying and selling of goods
Formation and enforcement of agreements
Formation and enforcement of agreements
Hire purchase law is concerned with ________________.
Formation and enforcement of agreements
Legal relationship between employers and employees
Hiring out goods with an option to purchase
Which branch of business law governs the legal relationship between principals and agents?
Sale of Goods
Agency
Law of Contract
The sale of goods law primarily focuses on ________.
Legal relationship between employers and employees
Hiring out goods with an option to purchase
Buying and selling of goods
Explain the role of employment law in the business context.
Employment law governs the legal relationship between employers and employees, ensuring compliance with labor standards, protecting employee rights, and establishing fair treatment in the workplace.
Provide an example of a situation where the law of contract would be applicable in a business transaction.
An example could be a company signing a contract with a vendor to purchase raw materials at a specified price and quantity, outlining the terms and conditions of the agreement.