Reference no: EM132309807

Learning Outcomes

On completion of this module the student should be able to:

1. Critically analyse the implications of national and international legal environments of businesses in the Sultanate of Oman.
2. Analyse the key features of the judicial system of Oman.
3. Use appropriate sources for general legal analysis by identifying information, legal issues and reaching conclusions based on analysis.

OMAN LEGAL ENVIRONMENT, ETHICS AND CORPORATE RESPONSIBILITY

Introduction

Although some contracts may seem to be complex, their rationale is relatively straightforward: they reduce the agreement of the parties into writing (and are, therefore, evidence that the parties have entered into a legally binding relationship); and, importantly, sets out the terms of the parties' obligations in the performance of the contract. A written contract also meets the purpose of facilitating the best bargain obtainable between the parties. Most importantly, a contract is enforceable once it has been signed and the parties commence the performance of their respective obligations under it.

It is of critical importance that the relevant contract manager, contract holder or project manager is well aware of the terms agreed between the parties as set out in the contract. He/she should execute the contract in order to make sure that all benefits under the contract are fully realised and, further, that all potential risks inherent in the project are fully understood. Failing to know how the contract "works" is considered to be one of the main reasons why parties end up in litigation. Contract management specialists in most cases prepare for the worst case scenario by having thorough understanding of, give careful consideration to, and include terms in the contract covering the following question: What should the governing law of the contract be? Who has jurisdiction to deal with any disputes arising between the parties which they cannot resolve themselves? How can the parties terminate the contract, if it comes to that, and what is the resulting effect of doing so?

Write a comprehensive report on the following questions:-

Q1. Critically discuss all the types of breach of contract that may happen and the remedies for breach of contract under Oman Commercial law. Relevant statutes should be quoted to support answers. Use an applied relevant Oman example to demonstrate your answer.

Q2. The law of contract outlines duties and obligations of the parties to a contract and eliminates ambiguity. Critically analyse this statement vis-à-vis the law of contract provisions quoting relevant Royal Decree. Use an applied Omani example to demonstrate the application of the law of contract in Oman.

Q3. Oman is now diversifying its economy to prepare for life after oil under Tanfeeth Diversification Plan 2040. Critically analyse legal and Easy of Doing Business issues that need to be addressed by Oman so that Tanfeeth Diversification Plan can achieve its objectives and succeed in its diversification thrust, as Oman competes with other GCC countries for global investments funds, (Hint: please address Customs clearance turnaround issues, new business formation turnaround issues, cost of new business formation processing fees, bureaucratic issues, red-tape, the One Stop Shop Concept of Investment Processing and tax holidays or tax exemptions and the status of port handling capacity and clearance issues at Sohar Port after shipping was moved from Muscat to Sohar). You are required to interview Ithraa staff (or Oman Chamber of Commerce and Industry, or Ministry of Industry and Commerce or Tanfeeth or ASYAD), to explain the status of these issues in Oman and what is the way forward for excellence in Oman? An interview script must be attached at the end of the assignment with questions and answers. You should state who was interviewed and in what organization, and his/her designation or position.

Q4. Business ethics, corporate social responsibility and corporate governance create the human face of organisations. Critically explain these concepts and use an applied Oman company example to demonstrate good corporate governance.

Q5. Pollution has made life dangerous, risky and a threat to the human race, hence tough government regulations and penalties for pollution. If unregulated society is unethical. Critically explain how and why the Oman Government is regulating:-
(a) Marine pollution quoting relevant Royal Decree;
(b) Air pollution quoting relevant Royal Decree; and finally
(c) Noise pollution quoting relevant Royal Decree.