business law
Khalifa627
1.PPT
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Summer 2020
Semester 3 UG 090 : OMANI BUSINESS LAW Lecture 1 : Introduction to law, Statutory Rules
B.Sc. Accounting, Auditing and Finance and
Bachelor Business Administration
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Introduction
What is Law?
Definition: A body of rules of action or conduct prescribed by controlling authority and having binding legal force.Laws are essentially a set of rules governing a civilized society, but there are 3 main characteristics that make laws different from simple rules:
Laws are a set of rules established and enforced by government.
Laws are mandatory.
Laws involve consequences.
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Functions
Establish rules of conduct
Provide a system of enforcement
Protect rights and freedoms
Protect society
Resolves disputes
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Basic Statute of the State: Constitution
Promulgated by promulgated by the Late His Majesty Sultan Qaboos in 1996
ROYAL DECREE NO. (101/96) dated 6 November 1996
ROYAL DECREE NO. 99/2011 dated 19 October 2011 Amended some Provisions of the Basic Statute of the State
Basic Statute of the State is Oman’s constitution, and provides the legal framework for the development and implementation of all legislation and government policy.
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Basic Statute of the State
The basis for all legal decisions in the Sultanate of Oman
It is the ultimate point of reference for judicial authority.
The Basic law of the state determines the form of government of the Sultanate of Oman
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Basic Statute of the State
It is the framework within which legislative and other political institutions develop
It determines the basic structural organization of political administration in the Sultanate
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Basic Statute of the State
It establishes the Majlis Oman, comprising the directly elected Majlis Al Shura and the appointed Majlis a-Dawla
It establishes an independent judiciary
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Basic Statute of the State
The Basic law of the state also defines the rights and responsibilities of Omani citizens.
the freedom from discrimination of any kind,
the rights of speech and assembly,
the right to participate in the political decisions of the country,
the rights to private property and personal privacy,
freedom of religion and
gender equality.
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The court structure
The court system has three tiers
The Courts of First Instance
The Courts of Appeal
The Supreme Court
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The Supreme Court of Oman
The Supreme Court is based in Muscat
It is the highest court of Oman
It ensures that all laws and regulations comply with the Basic Law of the State and its provisions.
In its supervisory capacity, it ensures the correct implementation of the Law by the courts
It decides on Appeals filed before it.
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The Courts of Appeal
Considers disputed rulings delivered by the Courts of First Instance.
The Appeal Court circuit consists of three judges.
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The Courts of First Instance
The Courts of First Instance are the first level court
They are responsible for ruling on
civil and commercial cases,
requests for arbitration,
personal status cases and
general, labour, tax, rent and other cases within their jurisdiction.
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References
Mola.gov.om. (2018). Home Page-Ministry of Legal Affairs-Sultanate of Oman. [online] Available at: http://www.mola.gov.om/eng/ [Accessed 10 Sep. 2018].
http://www.mola.gov.om/eng/basicstatute.aspx
Wipo.int. (2018). [online] Available at: http://www.wipo.int/edocs/lexdocs/laws/en/om/om019en.pdf [Accessed 10 Sep. 2018].
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References
Nyulawglobal.org. (2018). The Legal System and Research in the Sultanate of Oman - GlobaLex. [online] Available at: http://www.nyulawglobal.org/globalex/Oman.html [Accessed 10 Sep. 2018].
Your Bibliography: Anon, (2018). [online] Available at: https://www.worldnomads.com › Explore › Middle East › Oman [Accessed 10 Sep. 2018].
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Part II- Commercial Law of Oman
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Royal Decree No. 55/90 issued on 18 Dhu Al Hijja 1410 AH –July 11, 1990
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Commercial concern
Book 5 is now redundant because Oman has a new Bankruptcy law
Articles 1-7
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Article 1: Provisions of Oman Commercial Law apply to
all merchants
all commercial activities
Article 1 -7 (general provisions)
Article 2 : Contracts become effective upon the matching of offer and acceptance
Article 5 : If there is no provision in the Commercial Law rules of custom will apply. In the absence of custom , Sharia provisions and then the rules of justice shall apply
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Article 1 -7
Article 6 : Court – the Authority for the Settlement of Commercial Disputes
Article 7 : Separate laws exist for regulating Commercial Companies, trademarks, the Commercial Register, the OCCI and the MSM
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Chapter One- Commercial activities
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Commercial activity- Article (8 )
Commercial activities are those undertaken by any person with intent to speculate, even if such person is not a merchant.”
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Chapter Two- The Merchant
Section 1: The merchant in general
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Merchant
Article 16: Any person who pursues commercial activities in his own name, possesses the required capacity and conducts such activity as a business
Any company that adopts a commercial form, even if engaged in non-commercial activities is deemed a Merchant.
Article 19: Companies incorporated in Oman and branches of foreign companies engaged in commercial activities in Oman are also treated as commercial activities
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Merchant
Article 16: Any person who pursues commercial activities in his own name, possesses the required capacity and conducts such activity as a business
Any company that adopts a commercial form, even if engaged in non-commercial activities is deemed a Merchant.
Article 19: Companies incorporated in Oman and branches of foreign companies engaged in commercial activities in Oman are also treated as commercial activities
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Main purpose of the CR is to notify third parties about the Merchant
CR is a means of publicity and used as a evidence of the registered information.
Agricultural activities, Fisheries(not on a large scale) and Small businesses are exempted from registering in the commercial register
COMMERCIAL REGISTER (CR)
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Article 4 : Registration is Mandatory for:
All Merchants
Commercial Companies
Branches and Agencies
Article 7 : Information required for registration:
Name, Commercial Name and Logo, Place and date of birth, Type of Business, Address
COMMERCIAL REGISTER
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COMMERCIAL REGISTER
Article 20: Any activities NOT registered in Commercial Register cannot be enforced against any third party
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The End/ Questions
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