Business Transactions Research Articles

Legal Implications Arising from the Stage of Negotiation through Electronic Means

This research aimed at investigating the legal implications arising from the stage of negotiation via electronic means. It specifically aimed to highlight the obligations associated with negotiation stage. Moreover, it ventured to identify the consequences of breaching the obligations agreed upon in this stage. The descriptive analytical method was used and the findings reflected that the stage of negotiation via electronic means leads to the conclusion of the contract. Furthermore, breach of these obligations requires compensation by the person causing the damage. It was also found that the Jordanian legislator did not address the electronic negotiation process in e-commerce transactions. Rather, the legislator regulated it in general by Law No. 85 of 2001, replaced by Law No. 15 of 2015. The study recommends that the Jordanian legislator include legal texts in the Electronic Business Transactions Law, so as to address the electronic negotiation stage.

Legal Protection and Justice for Franchise Business Operators from an Islamic Law Perspective

This study discusses strategies to enhance the economic well-being of the community through engagement in entrepreneurship, especially through the franchise business model. Franchising is a marketing strategy for rapidly expanding businesses through the concept of cooperation. Legal protection for franchise business operators is crucial in maintaining a balance between the parties involved. Although there are no specific verses about franchising in the Quran, the principles of business ethics, justice, and compliance with Islamic law are essential foundations that should be applied in all forms of business transactions, including franchising. This study uses an empirical juridical legal approach to explore the concept of franchising, Islamic legal principles, and the impact of legal protection on franchise business operators. The results of this research are expected to make a significant contribution to advancing the legal discourse related to franchise business and Islamic law in Indonesia.Legal protection helps franchise business operators manage risks and conduct business in accordance with the principles of justice and business ethics, from both Islamic and general legal perspectives. Islamic and general law play a crucial role in shaping a fair, orderly, and sustainable franchise business environment. With a clear and consistent framework, franchise business operators can focus on the development and growth of their businesses. Thus, legal protection serves as a strong foundation for sustainable franchise business growth in Indonesia and makes a positive contribution to the economy and society as a whole. Franchise businesses can be a suitable form of enterprise that aligns with the values and principles of Islamic economics, providing a positive contribution to the economy and society overall.

Legality of Digital Contracts in Indonesian Positive Law Perspective

In the rapidly developing digital era, digital contracts have become popular in Indonesia due to their convenience and efficiency in business transactions, such as online buying and selling. A digital contract is an agreement made using electronic or digital media, differing from the traditional paper and pen method. The rise of electronic transactions has led to the creation of digital or electronic contracts, resulting in electronic engagements. This shift from conventional to digital contracts represents technological advancement in contract practices, as seen with Electronic Contracts. Unlike conventional contracts, which have clear legal regulations, Digital or Electronic Contracts in Indonesia are relatively new. This research examines the legality and validity of Digital Contracts from the perspective of Indonesian Positive Law. The study aims to understand and assess the legality of digital contracts in Indonesia. The research employs normative legal research methods, using the Statutory Approach and the Conceptual Approach. The findings conclude that digital contracts are legal and valid under Indonesian positive law, provided they meet the validity requirements of an agreement as stipulated in Article 1320 of the Civil Code.

The Influence of E-Servicescape, E-Trust, and E-Service Quality on Customer Satisfaction on the E-Commerce

Technological advances have led to the emergence of the internet network, transforming business transactions such as e-commerce; one example is Shopee. This research aims to evaluate the impact of e-servicescape, e-trust, and e-service quality on customer satisfaction among Shopee application users in the city of Surabaya. By sending surveys using Google Form, data was gathered electronically. Surabaya city inhabitants make up the study's population. The purposive sampling approach yielded a sample size of 135 respondents for this investigation. Multiple linear regression, the F test, the t test, coefficient of determination, validity and reliability analysis, and classical assumptions are all used in this study plan. Based on the research findings, customer satisfaction is significantly impacted by e-service quality, e-trust, and e-servicescape all at the same time. At a significance level below 0.05, e-trust, e-service quality, and e-servicescape all have a somewhat significant impact on customer satisfaction. This indicates that increased consumer satisfaction with the Shopee application is correlated with improved e-servicescape, e-trust, and e-service quality offered by Shopee.

Penyuluhan Legalitas dan Perlindungan Hukum dalam Bisnis Digital

The digital economy encompasses online business transactions, electronic commerce, digital services, and the digital creative industry, offering opportunities for growth, innovation, and efficiency while also challenging privacy, data security, and the digital divide. Alumni have significant potential in the digital business world, with access to education, experience, and extensive networks. Some findings suggest that electronic money positively impacts economic growth, but legal protection challenges remain, such as consumer data breaches and the need for regulation. The PKM team provides outreach to alumni and active students on legal developments in digital business. Lectures and training methods are used to impart understanding of legality and legal protection in digital business. This outreach successfully enhances participants' understanding of legal aspects, such as business identification numbers (NIB), business permits, tax obligations, trademark registration, copyright, product regulations, and intellectual property protection to avoid legal risks and enhance their business reputation.

The reality of an economic transaction in tax law: problems of proof

The article is devoted to the problems of proving the reality of an economic transaction in tax legal relations. The concept of the reality of an economic transaction is absent in the Tax Code of Ukraine. However, in practice, this concept is widely used by controlling authorities during tax audits. In the way of recognizing the economic transaction as unrealistic, the controlling authorities create the prerequisites for adding to the taxpayer the amounts of liabilities that, from the point of view of the controlling authorities, were understated by the taxpayer. A significant part of cases on appeals of tax notices-decisions concerns the results of tax audits in which the transaction was recognized as unreal, so in appeal cases the question arises of proving (and vice versa, refuting) the reality of economic transactions. The available array of information on this issue needs to be organized, researched, compared and recommendations formed, in order to achieve a greater degree of legal certainty. The reality of an economic transaction is a necessary requirement for displaying the results of the transaction in the taxpayer’s tax records. The criteria of reality have been developed by judicial practice, but they need to be detailed and clarified in order to achieve legal certainty. It is the controlling body that must prove the unreality of the business transaction, however, if it provides such evidence, the tax payer has the duty to refute them. The article determines the distribution of the burden of proving the reality of economic transactions, determines the place of private law and criminal law prejudice in proving the reality or unreality of transactions. The significance of the presumption of legality of the transaction for tax legal relations is clarified, the importance of primary documents in the process of proof in such disputes is investigated, it is determined the line between the principle of individual responsibility of the payer and the doctrine of “due diligence”, recommendations are provided for supervisory authorities and taxpayers regarding proof in this category of disputes.

Pendampingan Usaha dengan Memanfaatkan Pemasaran Berbasis Digital untuk UMKM di Desa Biluango Kabupaten Bone Bolango

After the COVID-19 pandemic, MSMEs must be able to rise to improve their family's economic conditions. This is done by exploring the potential of the village and taking advantage of technological advances. This service was carried out in Biluango Village, Bone Bolango Regency. Biluango Village has MSMEs, especially those engaged in the culinary sector. This service activity aims to assist MSME Goroho Mama Azam regarding production and digital marketing. The method of implementing the service is divided into four stages, including 1) MSME Survey Stage, 2) Production assistance, 3) Marketing digitalization assistance, and 4) Monitoring and evaluation. The results are: 1) Partner products become more diverse, 2) Product appearance becomes more attractive, 3) Wider market reach by utilizing social media, and 4) Partners become proficient in using social media in carrying out business transactions.

The Influence of Social Media Promotion on Online Purchase Decisions for Beauty Products

In the contemporary digital age, the internet has emerged as a powerful medium for product promotion, significantly influencing how people access information and fulfill their daily needs. This ease of access extends to business transactions, where entrepreneurs leverage the internet as a platform for online product sales. Social media, a relatively new mode of communication enabled by the internet, plays a pivotal role in this process. This research seeks to examine the impact of social media promotion on online purchasing decisions for beauty products among students at Universitas HKBP Nommensen, Medan. The study employs a quantitative approach. The population consists of all students at Universitas HKBP Nommensen who have purchased beauty products online; however, the exact population size is not known. Using the Slovin formula, a sample of 100 respondents was randomly selected to represent each faculty. The findings reveal that social media promotion has a significant effect on purchasing decisions, as demonstrated by the results of the t-test. The t-value obtained was 8.429, exceeding the critical t-value of 1.4355, with a significance level of 0.000, which is less than the 0.05 threshold. The coefficient of determination (R²) was calculated to be 0.420, indicating that 42.0% of the variance in purchasing decisions can be attributed to social media promotion, while the remaining 58.0% is influenced by other factors not covered in this study. In conclusion, the research confirms that social media promotion has a positive and significant impact on the online purchasing decisions of beauty products among students at Universitas HKBP Nommensen, Medan.

Prospective Regulation of Private Sector Legal Compliance Audits Through the Draft National Legal Guidance Law as A Manifestation of Good Corporate Governance

Various private-sector legal issues show how the quality of legal compliance is lacking. Legal and business entities have not considered decision-making in business transactions or other actions that risk-reducing investor interest. The massiveness of legal audit problems is an urgency to identify legal deviations from the start to measure legal compliance to avoid criminal, civil, and administrative sanctions. However, reviewing the current implementation of legal audits is limited to asset valuation and financial statements, and even then, it does not require private institutions to carry out audits periodically, so they are carried out by certain companies only. This research uses a normative method that refers to laws and regulations accompanied by literature studies in the form of books, journals, and other literature to find prescriptive ideal ideas. The results show that the implications of legal compliance audits stem from a legal vacuum over the audit mechanism, standardization of honorarium, and legality of legal auditors. The National Law Development Agency (BPHN) must collaborate to formulate a private sector legal compliance audit in the Draft Law on National Law Development to realize Good Corporate Governance (GCG). The author recommends an ideal legal compliance audit model like the Government Accountability Office (GAO) in the United States.

Data architectures and the prevalent cyberattacks encountered by West African higher educational institutions in the COVID-19 era

The growing interconnectedness of the world has led to a rise in cybersecurity risks. Although it is increasingly conventional to use technology to assist business transactions, exposure to these risks must be minimised to allow business owners to do transactions in a secure manner. While a wide range of studies have been undertaken regarding the effects of cyberattacks on several industries and sectors, However, very few studies have focused on the effects of cyberattacks on the educational sector, specifically higher educational institutions (HEIs) in West Africa. Consequently, this study developed a survey and distributed it to HEIs particularly universities in West Africa to examine the data architectures they employed, the cyberattacks they encountered during the COVID-19 pandemic period, and the role of data analysis in decision-making, as well as the countermeasures employed in identifying and preventing cyberattacks. A total of one thousand, one hundred and sixty-four (1164) responses were received from ninety-three (93) HEIs and analysed. According to the study’s findings, data-informed architecture was adopted by 71.8% of HEIs, data-driven architecture by 24.1%, and data-centric architecture by 4.1%, all of which were vulnerable to cyberattacks. In addition, there are further concerns around data analysis techniques, staff training gaps, and countermeasures for cyberattacks. The study’s conclusion includes suggestions for future research topics and recommendations for repelling cyberattacks in HEIs.

Legal Analysis of The Role of Notaries in The Drafting of Financing Agreement Deeds Based on Sharia Principles At PT. Bank Syariah Indonesia Batam Branch Office

In every transaction or agreement they observe, notaries are crucial in guaranteeing adherence to sharia rules. It is essential for notaries to comprehend sharia principles in muamalah (business transactions) in order to perform their duties responsibly and in compliance with applicable legal rules. Muamalah based on sharia principles addresses a number of topics, including justice, openness, unity, and adherence to Islamic legal norms. To determine if a transaction or agreement complies with the relevant sharia principles, notaries must comprehend and internalise these principles. This research aims to find out, analyse and explain in depth the role of notaries in making financing agreement deeds based on sharia principles, so that they can contribute to the development of Islamic banking law and notaries in Indonesia, and analyse and explain comprehensively the responsibilities of notaries both civilly, criminally, and administratively for the sharia financing agreement deeds they make, so that they can contribute to the legal protection of the par. This research uses a type of legal research that is Normative as well as Sociological (empirical). The findings revealed that the role of the Notary in the application of Sharia principles in contract deeds at Bank Syariah Indonesia KC Batam is not overly dominant, because the Notary's role is essentially limited to legalising the contract, while the bank determines the contract's content entirely. The notary bears accountability for the Sharia Financing Agreement deed and must read and comprehend its contents. With this reading, the notary can also amend any inaccuracies in the deed's contents. The Notary will refuse to legalise the deed if it violates the law, public order, or decency. The constraints of the absence of Notary competencies that are in accordance with and fulfill sharia provisions, make not all Notaries who are partners of Islamic banks lack understanding of sharia principles.

A Study on Working Capital Management

The study is an outcome of the topic “A STUDY ON WORKING CAPITAL MANAGEMENT”. The study focuses on the Working Capital Management. Working capital management means amount of capital that a business has available to meet day-to-day cash requirement of its operations. For a success of working of a business organisation management of working capital is essential as it has direct impact on profitability and liquidity. An attempt has been made in this project to study the working capital position. Ratio analysis, Components of gross working capital and schedule of change in working capital have been used to analysis the data. This study reveals that tend to be healthy and soundness of financial position is good. The ways in which ratio analysis can be assistance in long-range planning and helps to avoid difficulties of the company. It also helps to ascertain and give suggestions to improve the business transaction.

Regulations on the Use of Indonesian in Making Contracts According to Indonesian Positive Law

Introduction: Contracts form the backbone of business dealings, establishing the foundations and binding all collaborative endeavors between parties involved. In the Indonesian context, the use of the national language in contractual agreements has been explicitly governed by laws and regulations, specifically Law Number 24 of 2009 concerning the National Flag, Language, Emblem, and Anthem.Purposes of the Research: This study aims to scrutinize and analyze the regulatory framework surrounding the use of the Indonesian language in contract drafting, as mandated by the positive laws of Indonesia. Additionally, it seeks to elucidate the legal ramifications that may arise from non-compliance with these provisions. Furthermore, the research endeavors to provide legal clarity and offer recommendations pertaining to this issue.Methods of the Research: This research adopts a normative legal approach, employing both statutory and conceptual frameworks. The legal materials utilized encompass primary, secondary, and tertiary sources. The collection of legal materials is facilitated through library research, while the analysis of these materials is conducted qualitatively, employing content analysis and legal interpretation techniques.Results of the Research: The findings of this research present a comprehensive analysis of the regulations governing the use of the Indonesian language in contract drafting, shedding light on the legal implications of non-compliance with these provisions. Furthermore, the research offers recommendations and suggestions tailored for government agencies, business entities, and legal practitioners, guiding them in implementing the use of the Indonesian language in contracts in accordance with the applicable legal framework.

Edukasi Pemasaran Digital melalui E- Commerce untuk Pelaku UMKM di Kelurahan Sei Kera Hilir I

The program College Work Real (KKN) is a form of solution to solve the problems that occur in society. Program KKN takes the title about Education E-Commerce On executant UMKM in the Village of Sei Kera Hilir I. Pandemic Covid-19 resulted in a variety of fields affected, the only one in the field of Economics, a business deal is dominated by Micro, small and medium enterprises (UMKM). The COVID-19 pandemic has made UMKM in Indonesia begin to fidget. The purpose of this report is to discuss how to overcome the economic problems faced during the COVID-19 pandemic and how to implement an E-Commerce website that serves as a media promotion and online sales. This report type is descriptive qualitative. Methods of data collection include observation, interview, and documentation. The results of this report indicate that service learning activities as a form of community service during the pandemic can still be felt by society, and the role of the student can still be done with a series of innovative activities as well as keep running the protocol health.

Factors Affecting the Inclusive and Sustainable Development of The Creative Economy in Semarang City

The Covid-19 pandemic has precipitated a shift in business transactions from offline to online, presenting opportunities for growth in Semarang City's creative economy sectors such as Applications and Games, Music, Culinary, Fashion, and Crafts. Despite these opportunities, the development of the creative economy in Semarang City appears fragmented and lacks clear direction, compounded by challenges in accessing comprehensive development data. This study aims to identify the factors influencing the inclusive and sustainable development of Semarang City's creative economy. Utilizing primary data from direct surveys and Focus Group Discussions (FGD), alongside secondary data from Semarang City's regional government and the Central Bureau of Statistics (BPS), this research employs the Partial Least Squares (PLS) Analysis Method to analyze these factors. Findings reveal significant ongoing development across Semarang City's creative industries, with culinary (22.9%), music (20.8%), product design (7.08%), fashion (9.91%), and crafts (9.2%) emerging as key subsectors. The study identifies academician and government support as directly influencing the competitive advantage of Semarang City's creative economy, while private sector, community, and media involvement show indirect effects. The model proposes that a collaborative approach involving academicians, government, private sector, community, and media—a Penta Helix framework—is crucial for fostering further growth and mobilizing Semarang City's creative economy.

Literature analysis of the language challenges and the responses thereto of European multinational companies

Language diversity is an inherent part of international business transactions,despite the dominance of English. The challenge for management, HRM, andemployees in multinational companies is to find the right strategy. Multinationalorganizations can be categorized using the EPRG (ethnocentric, polycentric,regiocentric, geocentric) model, according to how they define their relationshipwith subsidiaries, and how they operate in foreign markets. Using this model,conclusions can also be drawn from their applied language strategy. JEL code: F23, Z13

Actualizing Islamic Economic Law in the Digital Era: A Study of the Application of Khiyar al-Majlis in Electronic Contracts

This research was motivated by the emergence of electronic contracts, while every contract contains provisions and implementation of khiyar al-majlis, namely the right of the parties to the transaction to choose to continue or cancel a business transaction as long as the parties are still present at the transaction location. Due to the unclear existence and mechanism for implementing khiyar al-majlis in electronic contracts, this research was urgent. The aim of this research was to determine the existence and mechanism for implementing khiyar al-majlis in electronic contracts. The research method used was normative legal research with a systematic legal approach. Researchers use secondary data or legal materials obtained and processed using selective categorization. All of this legal material was grouped based on criteria that were appropriate to the problems and themes, then analyzed descriptively and analytically. The law of khiyar al-majlis was described and analyzed with explanation, study, systematization, interpretation, and evaluation. The results of this research showed that the existence of khiyar al-majlis in electronic contracts was only legal because the parties were not in the same transaction location as in conventional contracts. Then, the mechanism for implementing khiyar al-majlis could occur directly or indirectly in electronic contracts. This study contributes to the development and actualization of Islamic economic law in the digital era.

Needs Analysis for University EFL Learners Majoring in Business English: A Scoping Review of Research and Practice

In the context of international economic integration, Business English (BE) has played an increasingly significant role in business settings because BE is considered as a global communicative means, helping business transactions happen effectively among economies all over the world. In Vietnam, BE has been used more and more in trade transactions because Vietnam’s economy has explosively developed and Vietnam has expanded its international trade relations over the last ten years. The aim of the paper is to analyze and synthesize the needs analysis for EFL learners majoring in Business English globally. The results of the paper help higher education in Vietnam see the importance of needs analysis in ESP, needs analysis approaches, theoretical frameworks including target situation analysis (TSA), present situation analysis (PSA), learning situation analysis (LSA), then evaluate existing materials or coursebooks and adapt to create better universities’ curricula to meet the linguistic requirements in the workplaces in Vietnam.

COVID-19 Pandemic and E-Banking in Nigeria

The COVID-19 pandemic and technology have redefined the channels through which business and financial transactions can be carried out. The objective of the study is to assess the connectivity between COVID-19 and electronic banking (E-Banking) during the periods of COVID-19 lockdown and the restriction of movement in Nigeria. Ex post facto research design and secondary data were used in the study. The study adopted descriptive analysis as its data analysis method. It was found that online transfer channels were mostly used throughout the periods of COVID-19 and the restriction of movement in Nigeria, and the volume of transactions for all the components of E-Banking (automated teller machines, point of sale transfer, online transfer, and USSD transfer) were low in the month of April compared to other months in the periods of study. The study concluded that COVID-19 increased the online transfer channel of E-Banking in Nigeria during COVID-19 lockdown and the restriction of movement in the year 2020. The study recommended that financial transactions via E-Banking be encouraged in Nigeria, in as much as COVID-19 still persists there. Also, there should be a reduction in the service charges as charged by the banks, telecommunications firms, and the Federal Government on the use of E-Banking for fund transfers in order to encourage more Nigerians to adopt E-Banking.

Organizational Factors that Influence Information Security in Smes: A Case Study of Mogadishu, Somalia

Many organizations and businesses are currently dependent on information systems to conduct their business process and transactions. The security of the information being handled by systems has become a challenge in the corporate world today, as organizations strive to take measures to safeguard their information and maintain confidentiality. The study aimed to investigate the factors that influence information security in Small and medium-sized enterprises (SMEs) in Mogadishu Somalia. The study was guided by the following research objectives: such as organizational characteristics, data management practices, and employee characteristics in organizations that affect information security in SMEs in Mogadishu Somalia. A quantitative descriptive research design was used in this study, whereby the population consisted of 150 respondents which was focused on Owners, Managers, and Information Security Engineers of Small and Medium-sized enterprises (SMEs) in Mogadishu. Out of which a sample size of 140 respondents was obtained, spread out across three categories. The researchesr applied the probability method to select Owners, Managers, and Information Security Engineers from the Small and Medium Enterprises in Mogadishu Somalia. The elements selected from the population interacted with information security and were well-qualified to respond to the research objectives. The researches used self-administered structured questionnaires, whereby the respondents were required to point out the measure of appropriateness of the three main factors that influence information security in SMEs in Mogadishu. The questionnaire used a five-point Likert-type scale ranging from strongly disagree (1) to strongly agree (5). The respondents were also asked to indicate demographic information that comprised of Sex, age, level of education, years of experience, job position, and marital status, based on their perception and understanding. The study was a quantitative research design, whereby a total of one hundred and fifty (150) questionnaires were distributed and one hundred and fourty (140) were returned from the respondents, indicating a response rate of 99%. The analysis of the data was performed in a quantitative nature so as to obtain numerical data made use of descriptive and correlation statistics and was analyzed using SPSS software. The data was structured according to the research objectives and displayed in the form of tables.