BBUN2103 Business Law Assignment Sample Malaysia

BBUN2103 Business Law is one of the courses offered by OUM Business School at Open University Malaysia (OUM). This course should be covered over 8-15 weeks and it’s worth 3 credit hours.

Business law is a foundational course that all business majors take to learn how different aspects of the law affect their day-to-day job. It has become increasingly important for Malaysia, as they are starting to open up more towards international trade and investment. This assignment BBUN2103 OUM Business Law sample will explore why this is necessary and what it means for the future of Malaysia’s economy.

This assignment report OUM sample contains information about one specific part of business law: contracts. Contracts are agreements between two or more parties in which each party agrees to provide something in return for some type of consideration (usually money). A contract can be oral or written but needs at least one signature from each party involved before any legal obligations come into effect.

Study Schedule For BBUN2103 Business Law Course

To make sure you are prepared for a course, it is recommended that learners spend at least 120 hours of independent study. This will allow them time to review all material and get an understanding of what they need in order to succeed with their educational goals. The table shows how many different types of exercises can help students prepare themselves before tackling any classwork or assignments:

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Synopsis Of BBUN2103 Business Law Course

This course is divided into 10 topics. The following list provides an overview for each of these lessons:

Topic 1 will examine the basic framework of Malaysia’s legal system. You’ll learn about its classification, sources, and separation of powers in addition to administering justice as well as positioning Islamic law within it!

Topic 2 will teach you everything from what a contract is, to the mistakes that can cause problems.

Topic 3 will explore the principles behind a void and voidable contracts. You are shown how these two types of contract differ, with particular emphasis on elements that could affect the validity or otherwise invalidate an agreement under section 13(1)of The Contracts Act 1950.

Topic 4 will discuss the four ways a contract can be discharged and also various types of remedies available to an innocent party when there’s been a breach.

Topic 5 involves a discussion on the agency. You will look at how an agent is created and their obligations, as well the process involved in terminating one’s own duties or those of another individual who has been enlisted by them to act upon behalf of the said company – this can apply whether it be terminable by mutual consent after some time period (termination for cause) or through death/ layoffs, etc.; either way there needs to exist clear documentation regarding such matters so that everyone knows what they’re working towards from day 1 onwards!

Topic 6 deals with the sale of goods. Topics covered include terms applicable to a contract for sale, transferability, and performance by both parties as well as remedies if there has been a breach in either one’s side of this agreement.

Topic 7 is on hire purchase. This topic discusses procedures for the formation of a contract, restrictions, and liabilities associated with it as well as when you may have repossession rights in relation to an agreement made between yourself and another person or company that involves using their goods without paying them back – called “hirer” here on our website!

Topic 8 moves on to explain concepts involved in insurance law. Among the principles of subrogation, insurable interests and material facts that will be discussed are basis clauses as well conditions or exception clause considerations for an effective contract between two parties who desire protection against risk or loss due directly arising out of contractual obligations either mutual (both parts) or unilateral (only one).

Topic 9 covers banking and negotiable instruments. In this topic, the discussions shall focus on cheques – a financial instrument for payments that can be negotiated by banks against their current account deposits with other financial institutions or individual savers who have requested special attention from them in order to earn interest at an elevated rate of lending due either because they are high-risk borrowers (eccentric funds) willing provide more security than others without incurring additional charges based upon creditworthiness OR under certain conditions such as containing large uncashed checks that would take up precious space within safekeeping safes while waiting for its inevitable redemption into currency which has been taxed.

Topic 10 provides a brief explanation about contracts from the Syariah point of view, including how they work in regards to various types and pillars. There is also an extensive section on options contracts which are commonly used when dealing with commercial transactions.

Brief Assignment Solutions Of BBUN2103 Business Law Course

By the end of this course, you’ll be able to:

Assignment Task 1: Describe the basic framework of the Malaysian legal system

The Malaysian legal system is a dual system consisting of the Federal Constitution that applies to law in Malaysia as well as Islamic law which is applicable to Muslims.

Under the Federal Constitution, Parliament has exclusive power to legislate on any matter related to Islam or vernacular schools, but it cannot legislate on matters related to state religious authorities or state religious ordinances. State laws are enacted into federal laws by means of two constitutional provisions specifying states’ power – one outlines powers with respect to certain subjects and the other with respect for all subjects. Islamic law in Malaysia is “personal” which means that it does not apply to non-Muslims.

Assignment Task 2: Apply the essential elements of contract law

In order for a contract to be valid, the following elements must exist-

Offer – The person making the offer has made his intentions known in an appropriate manner. For example, he might have sent a written or spoken offer.

Motive – There is some materially tangible reason why the person making the offer wants to make a contract.

Elements of Offer – If there are any additional requirements imposed on those receiving it, such as signing below this sentence. This is not usually required but still recommended as it can help avoid issues with contracts that don’t enforce their terms legally.

Acceptance – The person receiving the offer has accepted it in an appropriate manner.

Assignment Task 3: Discuss the basic principles in selected types of contract, namely agency sales of goods, hire purchase, and insurance

Agency sales of goods refer to the sale by an agent of title in a property to another agent. It usually arises when one agent, vendor, buys property but places it in trust for a second person rather than at their own risk. The buyer will be liable for its safekeeping while the seller remains responsible for any resale value.

Hire purchase is a type of contract that dates back to the Late Middle Ages where goods are given out on hire with instruction not to re-possess them until payment has been cleared. This kind of contract gives rise to four claims against the debtor: hire purchase or loan; conditional resale; conditional price assignment under which title vests in purchaser only if title holder defaults on payment; and equitable lien for the unpaid purchase price, which is often called an equitable mortgage.

Insurance is a great example of how the law has to be flexible in order to protect different parties. Insurance contracts fall under one of three types – indemnity insurance (protects against loss), credit insurance (protects creditor against non-payment), and life insurance (protects beneficiaries).

Assignment Task 4: Identify the types of negotiable instruments and the liabilities of the parties thereto

The types of negotiable instruments are a bill, a note, and a bond. These represent three different levels or stages in the life cycle of debt financing.

“Bills” are short-term loans made to an individual, company, or government entity that is about to pay for goods from you. “Notes” are medium-term loans made to people or entities that need money for capital expenditures on property, buildings, or equipment that they will not use for more than one year. “Bonds” represent the longest-term debt financing available which is usually issued by governments and large companies who need long-term capital investments on major property assets such as dams, power plants, and airports. The beneficiaries of the repayments of each of these three types of loans are important to ascertain so that there are no disputes when the debt becomes due.

Assignment Task 5: Describe the basic principles of Syariah in commercial law

Syariah has many principles in commercial law. One of the most important is that non-Muslims are legally prohibited from owning land in a country governed by this type of law, meaning it can be difficult for foreigners to start a business there. There are also strict rules governing the exchange of goods and services, including interest on loans.

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