The trader is intrinsically linked with the exercise of acts of trade on the other hand acts of trade are not intrinsically linked to traders.
Most people who are interested in becoming profitable traders keep focus on their planning, implementation of the plan and minimizing trade losses. However, there are group of traders who believe such buts of information are a waste of time and they therefore focus on rules. The focus of the trader type described in the first case keep interest in making money and not anything else. The second group of traders adhere to each rule with belief that the rules make up trade. Such traders who believe in rules expect that succeeding in the trade market is greatly increased only through strictly following the rules.
The discussion statement is purely based on the two group of assumptions mentioned. One group believes acts of trade are the ones that provide directions on how to conduct trade. A successful trader is therefore one that adheres to all these acts while setting up and conducting trade activities. However, the twist in the statement brings out an argument. The argument in the statement is a question of whether a trader reads the acts of trade or it identifies with them naturally. If it does, the important question is that, how does it happen that traders have intrinsic behavior feel for rules and acts. This information can be justified in several ways, but the main answer is based on the two types of traders: the objective acts of trade and the subjective acts of trade (Howells, Micklitz and Wilhelmsson 2016).
Objective and subjective acts of trade are identified in relation to the market movements. Objective acts of trade are a set of rules that must be followed as a guide to one a trader want to make decisions. The pre-planned decisions make it easier for objective traders (Hough, Davis and Kooy 2018). They base their trading on such kind of acts. On the other hand, subjective acts of trade are not restricted on written down based rules, but decision is supposed to be made by the traders. Subjective traders trade using their feelings, emotions and intrinsic decision-making process. For a subjective trade act, the opinion of the trader is not restricted by the law (Zahn 2017). They can make decisions as they want to and involve their emotions too in the trading business.
Based on these two arguments, it is logical to derive supporting discussions for the first argument. The first argument from the statement that is subject to debate is the fact that traders have the instincts in them to follow the acts. That a trader will always follow Acts of Trade even when they don’t have to. By the virtue of being a trader one has the instincts to follow the acts of trade. This logical statement can be proven in the following ways;
Trader have the instincts in them to plan. With research and technology traders must test trading ideas before putting it down to implementation. This is referred to as back testing. Back testing, a technique applied by traders, where they apply the new trading idea to historical data. Back testing is used by traders to determine if they should stick to the plan or come-out of the plan. A trading plan can be in terms of a written rule that some traders follow. Moreover, according to the section one of Acts of Trade, there is a stipulation that as a trader, the individual must conduct complete research and inform the trade commission on the trading ACT they would like to participate in. The research required in the ACT is important in determining trade important and related conditions. Factors like price of the commodity, security of the trading good are some of the important trade factors captured in the ACT. The instincts to plan in a trader is enough proof that traders are intrinsically bound by the ACT to plan just like the ACT of trade requires.
Additional proof that qualifies the first argument of the statement is about customer satisfaction. Traders who run their traders for businesses automatically seek ways on how they can make their clients satisfied. Satisfaction of clients, is believed to create impact on the profits that the trader will make. Traders who seek to be successful therefore, put their full commitment into trading as a form of business. According to the Fair-Trade Act (Abela 2015). Division four provides for the customer protection. The customer has a right to know and understand everything about the business. They are protected by this right and can have access to all the information they need within the trading period. Linking this two, we can derive the assumption that traders have what it takes to follow exercise of trade Acts. A trader satisfying a customer need is fulfilling the ACT of the fair trade intrinsically (Howells, Micklitz and Wilhelmsson 2016).
A trader can determine if the goods they are trading in is good or bad. Traders research about restrictions of goods. They would not trade in a good that is legal or prohibited in the borders of another country. Apart from legality of the traded goods, a genuine trader would look to trade authentic goods. First as a matter of increasing their customer base and secondly as a matter of instincts. Trading in goods that are not authentic or legal is likely to put the trader at a risk of being sued and legal implications being taken against them (Wright, Wong-Ervin, Ginsburg and Kobayashi 2016). The preliminary chapter of the trade ACT defines a trade good. As any substance or animal that is accepted by the laws of a country to be traded within it. Such definition gives a complete link on the relationship between a trader’s instincts and the acts of trade. The traders complete the rule even through omission, but they exercise them without knowing (Lukács 2017).
Using the critical analysis explained the first argument of the statement is perfectly framed. It is also important to note that in the first part of the argument advises based on objective trading. The trader is at free will but still follows the rules in their covert forms (Franco et al. 2016). In the second parts of the critical analysis the argument becomes subjective. There are rules noted by the ACTs, but they are still followed in overt forms. Traders are intrinsically motivated and bounded by the rules, acts and exercises of trade (Cini 2016).
In the second part of the statement the argument seeks to determine whether the same case that happens in the first part applies. Acts of trade are not bound to traders only. The assumption in the statement is logical and true as explained below (Howie 2016).
Acts of trade are not based on traders. They are rules that exist on their own. For a perfect proof of this fact, we look at other rules stipulated by this Acts that are not in any way tailored to the existence of traders. We can only reason to derive logic on whether traders make the most important part of the acts of trade. Which will depend on the interpretation of the law by a court of laws. However, the following reasons make the latter part of the discussion statement logical (Sodenkamp, Tavana and Di Caprio 2016).
First, the Acts of trade explains the role of the government in trade. In Section one the Acts specifies the role of the government by mentioning them. It specifies that the government acts to write down trading laws and rules. It is the government that specifies the kind of goods that it regards as important enough to be traded and legal trade goods. It is the government too, that ensure prohibited goods are not traded anywhere within the borders of the country. All these roles are derived from the Acts of trade. This is the first proof that apart from traders, the Act also discusses the role of the government. Justifying proof that Acts of traders is not bounded by Traders (Yuan, Liu, Zhao, Lian and Lian 2018).
Commission of trade is a constitutional body that gets it operational mandates from the ACTs of trade. The commission is supposed to determine the prices of trading goods depending on how they access the market value. They are the ones in charge of price controls. The trade commission is also the one that receives request from interested traders who apply for changes in the process of goods (Allard 2018). After assessment they give a decision regarding the same. The commission also functions to provide trading licenses to different traders at a fee. Commission of trade is therefore a mandated body by the Acts of trade under subsections 25 of the Acts of Trade. According to subsection 25 clause 3, the commission plays an important role in solving trading dispute cases. The trade commission is the commission mandated to investigate and give the tribunal courts findings related to court case. The judges of the cases therefore give verdicts relating to the findings that the court has given them. This is proof that apart from talking about traders, acts of trade also focus on the commission of trade which is a constitutional body (Federal Trade Commission 2016.). This is proof that the Acts of Trade is not bound by traders (Pelling 2016).
Trade disputes are normally common and might even involve a nation and another. Disputes of trade normally arise when one between the customer and the trader do not meet their end of the bargain. Some of these disputes end up in courts. The court will use the Acts of trade in making the decision that will help solve the dispute. From this analysis, we can derive the function of the Acts of trade surpasses the bounding by traders by creating rules for them. Apart from the rules, the court and the justice system using the act in deciding disputes. The acts of trade are therefore an important document that supersedes the role of being bound by traders (Debono 2017).
Lastly, it is the ACTs of trade that specifies monopolies and restricted trade practices. Trade practices that are restricted are the ones that are subject to exemptions. The practices in Section 5 and part of section since are the kind of practices which the rules and the laws do not cater for. Trade practices as defined by the act, are anything done to support trade. There are certain trading practices therefore that are not within the jurisdiction of the Acts. Some of the include; operation of retail and whole sale trading and persons that can conduct trade. These explanations are therefore justifications of the second argument in the statement. The acts of trade are not bound by traders. They are independent and operate as complete section of the law (Grillo 2017).
In conclusion, the discussion statement is accurately framed. It has two parts which bring out three very crucial arguments of the commercial and corporate laws. The first part expresses how traders can conduct trade activities in relation to the acts of trade. The first argument of part one emphasizes on the point that a trader might be objective, but that doesn’t take out the fact that he is bound by the acts of trade. On the contrary, the second argument are traders who follow the rules subjectively. They believe rules cannot be ignored and a business prosperity expected. The second part which introduces a third argument is about the acts of trade only existing to serve traders. Just like the statement acknowledges the Acts of Trade are not in any way serving traders but also other important issues related to trade. It is logical to say, it is not bound by the rules of trade.
References
Abela, J., 2015. Sailors’ Legal Rights in a Mediterranean Hub: The Case of Malta. In Law, Labour and Empire (pp. 61-78). Palgrave Macmillan, London.
Allard, A., 2018. Communities, Survivance, and Acts of “Residence” in the Late Eighteenth-Century Fur Trade in Minnesota. In MIDWEST ARCHAEOLOGICAL CONFERENCE, INC. (p. 67).
Cini, G., 2016. The legal position of a minor in the sector of trade: a comparative study (Bachelor’s thesis, University of Malta).
Debono, M., 2017. Attitudes towards trade unions in Malta. Economic and Industrial Democracy, p.0143831X16681482.
Federal Trade Commission, 2016. Federal Trade Commission Act Sect 5: Unfair or Deceptive Acts or Practices. Pp 113-117
Franco, M.R., Howard, K., Sherrington, C., Rose, J., Ferreira, P.H. and Ferreira, M.L., 2016. Smallest worthwhile effect of exercise programs to prevent falls among older people: estimates from benefit–harm trade-off and discrete choice methods. Age and ageing, 45(6), pp.806-812.
Grillo, R., 2017. Cosmopolitan Birgu: a study of the acts of notary Vincenzo Bonaventura de Bonetiis, pp. 1543 (Bachelor’s thesis, University of Malta).
Hough, B., Davis, H. and Kooy, M.J., 2018. Coleridge’s Laws: A Study of Coleridge in Malta.120-127
Howells, G., Micklitz, H.W. and Wilhelmsson, T., 2016. European fair trading law: The unfair commercial practices directive. Routledge.pp 56=59
Howie, L., 2016. They Were created by Man… and They have a plan: subjective and objective violence in Battlestar Galactica and the War on Terror. International Journal of Žižek Studies, 5(2).
Lukács, G., 2017. Reification and the Consciousness of the Proletariat. In Karl Marx (pp. 3-25). Routledge.
Pelling, H., 2016. A history of British trade unionism. Springer. Pp 134-137
Sodenkamp, M.A., Tavana, M. and Di Caprio, D., 2016. Modeling synergies in multi-criteria supplier selection and order allocation: An application to commodity trading. European Journal of Operational Research, 254(3), pp.859-874.
Wright, J., Wong-Ervin, K., Ginsburg, D. and Kobayashi, B., 2016. Comment of the Global Antitrust Institute, George Mason University School of Law, on the Korea Fair Trade Commission’s Amendment to Its Review Guidelines on Unfair Exercise of Intellectual Property Rights. Pp 211-224
Yuan, Y., Liu, S., Zhao, Y., Lian, L. and Lian, Z., 2018. Interferon-γ acts as a regulator in the trade-off between phagocytosis and production performance in dwarf chickens. Journal of animal science and biotechnology, 9(1), p.40.
Zahn, R., 2017. New Labour Laws in Old Member States: Trade Union Responses to European Enlargement. Cambridge University Press.117-118
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