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BUSINESS LAW Edition Keenan & Riches’ Ninth Keenan & Riches’ BUSINESS LAW edition Keenan & Riches’ ‘This book is comprehensive in coverage and provides a well rounded introduction to business law. It is clearly written and likely to become a ‘must have’ text for all business LAW BUSINESS law students.’ Indira Carr, Professor of Law at the University of Surrey BUSINESS LAW Business Law, now in its ninth edition, is a manageable, well trusted and reliable text specifi cally designed for non-law students studying Ninth edition law for the fi rst time. Maintaining the direct and accessible approach & Riches’ Keenan which has made this book so popular, Riches and Allen provide user-friendly explanations of the law in a highly practical and Sarah Riches & Vida Allen engaging style immediately equipping you with a good understanding Do you want to give yourself a head of key legal concepts. start come exam time? Visit www.mylawchamber.co.uk/riches to Now thoroughly revised and updated, the new edition includes access answers to the questions in the book to test yourself on topics covered. You’ll key changes to the law on: also fi nd legal updates to help you impress examiners and lecturers with knowledge of • The Consumer Protection from Unfair Trading Regulations 2008 the latest developments. • Companies Act 2006 Worried about getting to grips with cases? • The Employment Equality (Age) Regulations 2006 Amendment Case Navigator offers unique online support Regulations 2008 that helps you improve your case reading and analysis skills in Business Law. Cases contained within this resource are highlighted throughout this book. The LexisNexis element of Case Navigator is only available to those who currently The coverage of tort law has also been expanded and AS subscribe to LexisNexis Butterworths C E restructured in this edition to better match how the topic is covered on online. N R A O business law courses. V I G A T The new text design and handy cross-references allow you to fi nd the information you need quickly and easily while the use of extensive cases and diagrams make sometimes complex points in the law easier to understand. Learning aids popular in previous editions have been retained and include: Riches & Allen • Learning objectives highlight key points you should understand as you progress through each chapter • Self test questions allow you to assess for yourself whether your knowledge is up to scratch • Case summaries are included throughout to give you the key facts, legal principle and context underlying important cases • End of chapter specimen examination questions provide valuable examples of the typical types of question you may face in an exam enabling you to better prepare for assessments Sarah Riches is Director of Planning and Policy at the University of Bolton CASE and has many years’ teaching experience. Vida Allen is Principal Lecturer in Law at Kingston University where she teaches business and company law. N R www.pearson-books.com A O Cover photograph: Getty Images/Pete Gardner V I G A T POWERED BY CVR_RICH9642_09_SE_CVR.indd 1 20/3/09 12:11:39 BUSL_A01.qxd 3/13/09 10:28 AM Page i Keenan and Riches’ BUSINESS LAW . BUSL_A01.qxd 3/13/09 10:28 AM Page ii Also available: Smith and Keenan’s LAW FOR BUSINESS Smith and Keenan’s ENGLISH LAW TEXT AND CASES Smith and Keenan’s COMPANY LAW Smith and Keenan’s COMPANY LAW WITH SCOTTISH SUPPLEMENT . BUSL_A01.qxd 3/13/09 10:28 AM Page iii Ninth Edition Keenan and Riches’ BUSINESS LAW Sarah Riches and Vida Allen . BUSL_A01.qxd 3/13/09 10:28 AM Page iv Pearson Education Limited Edinburgh Gate Harlow Essex CM20 2JE England and Associated Companies throughout the world Visit us on the World Wide Web at: www.pearsoned.co.uk First published in Great Britain under the Pitman Publishing imprint in 1987 Second edition published 1990 Third edition published 1993 Fourth edition published 1995 Fifth edition published 1998 Sixth edition published under the Longman imprint in 2002 Seventh edition published 2005 Eighth edition published 2007 Ninth edition published 2009 © Mary Keenan, Sarah Riches and Vida Allen 2009 The rights of Denis Keenan, Sarah Riches and Vida Allen to be identified as authors of this work have been asserted by them in accordance with the Copyright, Designs and Patents Act 1988. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without either the prior written permission of the publisher or a licence permitting restricted copying in the United Kingdom issued by the Copyright Licensing Agency Ltd, Saffron House, 6–10 Kirby Street, London EC1N 8TS. All trademarks used herein are the property of their respective owners. The use of any trademark in this text does not vest in the author or publisher any trademark ownership rights in such trademarks, nor does the use of such trademarks imply any affiliation with or endorsement of this book by such owners. Crown Copyright material is reproduced with the permission of the Controller of HMSO and the Queen’s Printer for Scotland. Law Commission Reports are reproduced under the terms of the Click-Use Licence. ISBN: 978-1-4058-9964-2 British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library Library of Congress Cataloging-in-Publication Data Riches, Sarah. Keenan and Riches’ business law. – 9th ed. / Sarah Riches and Vida Allen. p. cm. Rev. ed. of: Business law / Denis Keenan, Sarah Riches. 7th ed. 2005. Includes index. ISBN 978-1-4058-9964-2 (pbk.) 1. Business law–England. 2. Business law–Wales. I. Allen, Vida. II. Keenan, Denis J. Business law. III. Title. IV. Title: Business law. KD1629.K44 2009 346.4207–dc22 2009000630 10987654321 13 12 11 10 09 Typeset in 9.5/12pt Minion by 35 Printed by Ashford Colour Press Ltd., Gosport The publisher’s policy is to use paper manufactured from sustainable forests. BUSL_A01.qxd 3/13/09 10:28 AM Page v Brief contents Guided tour xii Preface xvii Legal study skills xviii Case names, citations and law report abbreviations xxi Acknowledgements xxiv Table of cases xxv Table of statutes xxxviii Table of statutory instruments xli Table of European and other legislation xliv Part 1 INTRODUCTION TO LAW 1 1 The nature of law 3 2 Law making 12 3 Resolving disputes 45 Part 2 BUSINESS ORGANISATIONS 71 4 Classification and survey of types of business organisation 73 5 Non-corporate organisations – sole traders and partnerships 97 6 Companies 147 Part 3 BUSINESS TRANSACTIONS 201 7 Introduction to the law of contract 203 8 Types of business contract 266 9 The terms of business contracts 279 10 Contracts for the supply of goods and services 302 11 Business and the law of tort 330 12 Criminal liability in business 358 13 Credit 380 14 Consumer protection 401 Part 4 BUSINESS RESOURCES 419 15 Business property 421 16 Employing labour 452 Index 567 v . BUSL_A01.qxd 3/13/09 10:28 AM Page vi . BUSL_A01.qxd 3/13/09 10:28 AM Page vii Contents Guided tour xii 3 Resolving disputes 45 Preface xvii Learning objectives 45 Legal study skills xviii Legal services 45 Case names, citations and law report The legal profession 45 abbreviations xxi Other legal personnel 48 Acknowledgements xxiv Other sources of information and advice 48 Table of cases xxv Methods of dispute settlement: the courts 50 Table of statutes xxxviii Criminal courts 50 Table of statutory instruments xli Civil courts 56 Table of European and other Other important courts 62 legislation xliv Tribunals 62 Alternative dispute resolution 64 Part 1 Ombudsmen 66 INTRODUCTION TO LAW 1 Regulators 66 Self-test questions/activities 68 1 The nature of law 3 Specimen examination questions 68 Website references 68 Learning objectives 3 Classification of law 3 The common law 6 Part 2 Equity 6 BUSINESS ORGANISATIONS 71 Some basic principles of legal liability 8 Law of property 9 4 Classification and survey of Self-test questions/activities 10 types of business organisation 73 Specimen examination questions 10 Learning objectives 73 Website references 11 Classification of business organisations 73 Natural and juristic persons 75 2 Law making 12 Survey of types of business organisation: Learning objectives 12 advantages and disadvantages 78 Causes of legal change 12 Commencement of business 78 Legal change and the changing world 12 Raising business finance – generally 79 Law reform 13 Raising business finance – securities 80 The sources of legal change 14 Charges 80 Law-making processes 15 Guarantees 81 Legislation 15 Mortgages 83 Case law (judicial precedent) 22 Mortgages of personal property 85 European Community law 24 Mortgages of choses in action 85 Human rights 36 Liability of the proprietors 86 Self-test questions/activities 42 Continuity 87 Specimen examination questions 42 Publicity and external control of the Website references 43 undertaking 88 vii . BUSL_A01.qxd 3/13/09 10:28 AM Page viii Contents Taxation and national insurance 90 Ordinary limited partnerships 133 Planning 93 Limited liability partnerships 134 Self-test questions/activities 95 Reform: a partnership with legal personality 137 Specimen examination questions 96 Model form of ordinary (or unlimited) Website references 96 partnership deed 139 Self-test questions/activities 144 5 Non-corporate organisations – Specimen examination questions 145 Website references 146 sole traders and partnerships 97 Learning objectives 97 6 Companies 147 The sole trader 97 Learning objectives 147 Formation of the business 97 Types of
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