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Canadian Business

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Submitted By thuynh13
Words 375
Pages 2
Questions for Review Thuy huynh
MG131 Canadian Business Law Jan.-8-16

Explain the role played by the Sale of Goods Act and the qualifications that must be met for the Act to apply to a particular transaction. * The roles played by the Sales of goods Act are through a buyer (a person who buys or agrees to buy goods) and seller (a person who sells or agrees to sell goods). It applies to all contracts, whether it is consumers or business transaction. * The sales of specific goods in a deliverable state, the title transfers the contract of the sale instantly. * If the specific goods needs to be repaired, the customer is notified when the work is done. * The sale needs to be weighed or measured, the customer is notified when the work is done. * Once the goods are ready for approval, the customer is notified when it will arrive and the treatment of goods as the purchaser’s own. * When the goods have not been made at the time of the contract, the title would not transfer immediately. The goods needed to be purchased before it transfers.

Explain the purpose of the federal Competition Act, and list five competition offences. * The Federal Competitions Act controls mergers and abusive practices. Its purpose is to promote adaptability and efficiency of the Canadian economy. Expand the opportunities for Canadians to participate in the market developing world, but also take notice on the foreign competition in Canada. It provides product choices and competitive prices for the consumers, and is made certain that small and medium sized businesses have the chance to participate as well. * Five of the competition offences are: * Bid rigging * False and misleading representations * Double ticketing * Pyramid selling schemes * Multilevel schemes not disclosing required information

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