Summary
Summary Law: International Business Awareness
- Course
- Institution
summary of law for the course international business awareness for the study ib.
[Show more]
Seller
Follow
lp4
Content preview
International Business Awareness – Law1.Introduction to law
Law governs societies – The activities of persons and legal entities. It varies between different
jurisdictions (countries). It provides necessary rules, balancing different competing interests.
Different legal systems (several important distinctions)
- Common law / Civil law
- Public law / Private law
- National law / International law
Main sources of law
Written law Unwritten law
- Code - Case law
- Act of parliament (statute) - Custom
- Delegates legislation
Common law system
- Continuing from old law
- Absence of a legal code
- Law-making role judges
- Doctrine of binding precedent (the previous decision is binding)
- Passive role judge, active role lawyers in adversarial system of trial
Advantages
- Flexible
- Up to date
Disadvantages
- Difficult to find
- Power with non-elected judges (they are appointed by the court system)
Civil law system
- Law codes
- Democratically drafter legislation
- Case law serves as a guide but not binding
- Active role judge, passive role lawyers in inquisitorial system of trial
Advantages
- Easy to find
- Laws are made by a chosen body
Disadvantages
- Rigid
- Out of touch
Public law
- Governs law between a state and its citizens
- Regulates the relationship between a state and natural persons or organisations
For example
- Constitutional law
- Criminal law
- Taxation law
, Private law
- Governs law between its citizens
- Regulates the relationships between natural persons or organisations, such as companies
For example
- Contract law
- Labour (or employment) law
- Business (or corporate) law
National law
- Law concerning the country
- Law made by political bodies at the country applicable within the country
- A democratically run country will have an elected government with a process of proposal, debate
and voting to bring laws into existence
- National laws only apply within the country that makes them
International law
- Agreements between the two or more states/supranational bodies
- Countries set up international law making bodies
- Countries agree on conventions (treaties), for example Schengen agreement
Important frameworks
- United Nations (conventions)
- European Union (treaties)
- HCCH (conventions, protocols, principles and regulations)
- WTO (agreements, such as the GATT)
- ILO (conventions)
2. EU law
Borders are lifted to create one big European market.
Monetary union with a single currency.
Four freedoms
- Free movement of goods
- Free movement of people
- Free movement of services
- Free movement of capital
Free movement of goods
- National borders are lifted for goods
- No national customs
- No barrier rules
- TFUE art. 28,29,34,35,36
Free movement of people
- National borders are lifted for people
- Schengen agreement provides free physical movement of people
- TFEU art. 45 provides free movement of workers
- TFEU art. 49 provides freedom of establishment
Free movement of services
- National borders are lifted for services
- In principle prohibits restrictions on services performed by nationals of other member states.
- TFEU art. 56
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller lp4. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $5.90. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
52510 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now