Business Law

Business Law Assignment - Trade Ship

Task 1 Business Law Assignment - Trade Ship
task 1
In the United Kingdom, there are three different forms in which the business can be started.

First, the only trade vessel in which business is started by the person alone. If the sole merchant vessel is established, then it should be registered with HM Revenue and Customs (HMRC). Once registered, there are various responsibilities, which are imposed by law on a sole trader, such as, he should maintain the records of business expenses and sales records, he will have to prepare a return by self-assessment every year. And it has to be sent annually, income tax should be paid and tax should be paid on class 2 and class 4 on national insurance, if the business Robar VAT meets the threshold, VAT must be registered. (Govuk 2016)
Also read:-Business Law Assignment - Trade Ship
task 1
In the United Kingdom, there are three different forms in which the business can be started.

First, the only trade vessel in which business is started by the person alone. If the sole merchant vessel is established, then it should be registered with HM Revenue and Customs (HMRC). Once registered, there are various responsibilities, which are imposed by law on a sole trader, such as, he should maintain the records of business expenses and sales records, he will have to prepare a return by self-assessment every year. And it has to be sent annually, income tax should be paid and tax should be paid on class 2 and class 4 on national insurance, if the business Robar VAT meets the threshold, VAT must be registered. (Govuk 2016)

Business Law Assignment - Business Ship, Business Law, Assignment Assistance, Assignment Support UK, Assignment Assistance Coventry, Online Assignment Support, HND Assignment Assistance

Apart from a sole trader, Mr. Wong can also work through a partnership firm. But, a partnership can be operated by two or more people. Thus, if Mr. Wong wants to work through a partnership, then he can be done by bringing someone else along with him. A partnership can be made by entering into a partnership agreement and registering with HM Revenue and Customs (HMRC). Once created, there should be some legal obligations, such as: (Antonio 2015)

Partners should be paid through drawing. Tax benefits can be obtained by doing this.
There is no legal obligation to file any kind of annual tax return.
Income tax should be paid by individual partners National insurance should also be paid.
If the Partnership VAT turnover exceeds VAT registration is more than £ 83,000.
However, if a partnership is established, the shares are not transferable, the possibility of confrontation arises, liability is unlimited (startup)

Mr. Wong can also start his business through a company. Once a company has been registered, there are many such features which are acquired by such company, such as once registered company is prepared as an artificial legal person and in the eyes of the law a separate There is legal existence. A company is a separate legal entity and it is a sequential order (Salomon v Salomon (1897) (Academic 2015). After registering a company, there are legal obligations, which should be followed by Mr. Wong (Hughes 2014).

A company has limited liability and thus the members of the company are only liable to limit the expansion.
The company has to pay a personal tax which is comparatively lower than other business strategy forms. Also, corporate taxes @ 20-21% have to be paid.
Dividend should be paid on which tax is also levied.
Shares can be used by using the appropriate process which is not allowed in partnership.
Employee Executive Pension can also be made by a company. Tax benefits can be obtained from doing this.
Once a company has registered, securing finance is very easy and safe. Professional people can be hired for specialization.
Upon comparing, it is advisable that Mr. Wong should start with a company to limit the best tax benefit, financial status and his liability, which is not present in the sole merchant ship and partnership.

Task 2
Naseem bought items from Rashid and face-to-face issues:

Rashid sold Mercedes van @ £ 2000 but he is not qualified and when the van was taken to the repairs, the engine was of Mitsubishi.
In such a scenario, Rashid violated section 14 (2), 14 (3) of SOGA 1979.
According to Section 14 (2), the goods supplied must be of satisfactory quality. An implied condition is that the goods are of satisfactory quality when sold during employment. Goods are of satisfactory quality when the goods are suitable for the purpose for which the acquisition is done, it is free from defects and is equivalent to the standard of a reasonably discriminated man (Rogers V Parish (Scarborough) Limited) (1987) . According to Section 14 (3), the goods should be for the purpose that is presented by the buyer (grant v Australian weave mills (1936)). According to Section 13, the goods should also be in compliance with the details of the goods sold. An inherent position. (NADR 2016)
Thus, what is good by Rashid is not acceptable quality and does not match with the details. Thus, there is clarity of section 13 14 (2) and 14 (3) of the Act.
Nasim brought a box called Casio Digital Watches However, the watches were not digital watches
According to Section 13, the goods should always be matched with the details that the seller has established while selling the goods. There is an inherent condition that the goods should always be matched with the details and if the same deviations, then such an inherent position is expected and properly organized in Billy Wei Taylor (1967). (The Law Teacher 2016)
Thus, Rashid has sold those clocks with the digital which was not really, thus
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Business Law Assignment - Business Ship, Business Law, Assignment Assistance, Assignment Support UK, Assignment Assistance Coventry, Online Assignment Support, HND Assignment Assistance

Apart from a sole trader, Mr. Wong can also work through a partnership firm. But, a partnership can be operated by two or more people. Thus, if Mr. Wong wants to work through a partnership, then he can be done by bringing someone else along with him. A partnership can be made by entering into a partnership agreement and registering with HM Revenue and Customs (HMRC). Once created, there should be some legal obligations, such as: (Antonio 2015)

Partners should be paid through drawing. Tax benefits can be obtained by doing this.
There is no legal obligation to file any kind of annual tax return.
Income tax should be paid by individual partners National insurance should also be paid.
If the Partnership VAT turnover exceeds VAT registration is more than £ 83,000.
However, if a partnership is established, the shares are not transferable, the possibility of confrontation arises, liability is unlimited (startup)

Mr. Wong can also start his business through a company. Once a company has been registered, there are many such features which are acquired by such company, such as once registered company is prepared as an artificial legal person and in the eyes of the law a separate There is legal existence. A company is a separate legal entity and it is a sequential order (Salomon v Salomon (1897) (Academic 2015). After registering a company, there are legal obligations, which should be followed by Mr. Wong (Hughes 2014).

A company has limited liability and thus the members of the company are only liable to limit the expansion.
The company has to pay a personal tax which is comparatively lower than other business strategy forms. Also, corporate taxes @ 20-21% have to be paid.
Dividend should be paid on which tax is also levied.
Shares can be used by using the appropriate process which is not allowed in partnership.
Employee Executive Pension can also be made by a company. Tax benefits can be obtained from doing this.
Once a company has registered, securing finance is very easy and safe. Professional people can be hired for specialization.
Upon comparing, it is advisable that Mr. Wong should start with a company to limit the best tax benefit, financial status and his liability, which is not present in the sole merchant ship and partnership.

Task 2
Naseem bought items from Rashid and face-to-face issues:

Rashid sold Mercedes van @ £ 2000 but he is not qualified and when the van was taken to the repairs, the engine was of Mitsubishi.
In such a scenario, Rashid violated section 14 (2), 14 (3) of SOGA 1979.
According to Section 14 (2), the goods supplied must be of satisfactory quality. An implied condition is that the goods are of satisfactory quality when sold during employment. Goods are of satisfactory quality when the goods are suitable for the purpose for which the acquisition is done, it is free from defects and is equivalent to the standard of a reasonably discriminated man (Rogers V Parish (Scarborough) Limited) (1987) . According to Section 14 (3), the goods should be for the purpose that is presented by the buyer (grant v Australian weave mills (1936)). According to Section 13, the goods should also be in compliance with the details of the goods sold. An inherent position. (NADR 2016)
Thus, what is good by Rashid is not acceptable quality and does not match with the details. Thus, there is clarity of section 13 14 (2) and 14 (3) of the Act.
Nasim brought a box called Casio Digital Watches However, the watches were not digital watches
According to Section 13, the goods should always be matched with the details that the seller has established while selling the goods. There is an inherent condition that the goods should always be matched with the details and if the same deviations, then such an inherent position is expected and properly organized in Billy Wei Taylor (1967). (The Law Teacher 2016)
Thus, Rashid has sold those clocks with the digital which was not really, thus

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