Commercial law [LA3017]
(a) Agency
- define the term 'agent'
- explain how an agency is created
- discuss the scope of the agent's authority
- explain the rights and obligations owed by the principal and by the agent to the third party
- explain the rights and obligations owed by the third party to the principal and to the agent
(b) Sale of goods
- discuss the approach taken to interpretation of the Sale of Goods Act 1979
- analyse the components of the definition of a contract of sale
- explain the circumstances in which property in goods is passed
- identify how risk is passed
- understand the nemo dat rule
- discuss and illustrate the exceptions to nemo dat rule
- explain the duties of the seller to deliver and the buyer to accept goods
- discuss the implied terms in ss.12-15 of the Sale of Goods Act 1979
- discuss the relationship between the different implied terms
- outline the limits imposed on attempts by the seller to exclude or restrict liability for breach of the implied terms
- understand and discuss the rules on acceptance
- explain the remedies available to the buyer and the seller where there is a breach of the sale contract
- explain the use of retention of title clauses and the limits of such clauses.
(c) International sale contracts
- identify the key characteristics of cif and fob contracts
- analyse the distinctions between cif and fob contracts
- discuss the duties of the seller and buyer under cif and fob contracts
- explain the remedies available to the seller and buyer under cif and fob contracts
- understand the general issues involved in the use of electronic documentation and the effect of international agreements on the terms of international sale contracts
(d) Payment
- define and identify the characteristic features of a documentary credit
- explain the significance of the Uniform Customs and Practice for Documentary Credits (UCP)
- identify the different types of documentary credit
- explain the steps involved in the opening of a credit
- analyse the various contractual relationships
- discuss the strict compliance and autonomy of the credit rules
- explain the rights and obligations of the parties.
A student is permitted to bring into the examination room the following specified documents: one copy of each of the following: Factors Act 1889; Misrepresentation Act 1967; Supply of Goods (Implied Terms)Act 1973; Unfair Contract Terms Act 1977; Sale of Goods Act 1979; Supply of Goods and ServicesAct 1982; Consumer Protection Act 1987; Sale and Supply of Goods Act 1994; Sale of Goods (Amendment) Act 1995 and one copy of Blackstone's Statutes on Commercial & Consumer Law (OUP).
