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Summary IBA Law
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Business law chapter 4,7, 8 and 15
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International Business Awarenessa LawWeek 1
Law:
Law governs society, the actvites o fersons and legal enttes
It varies between diferent jrisdictons (cojntries)
Provides necessary rjles, balancing diferent comfetng interests
Highest orm o UK law: Act o farliament (statjte)
Main sources of law:
Written law:
Code
Act o farliament (Statjte)
Delegated legislaton
As opposed to:
Case law (yoj rely on cases)
Cjstom (not writen, a habit that feofle believe is law)
English law:
Continuity: develofed over the years
Judges may make laws: in civil and criminal cases in two main ways
Interfretng statjes: a jdge will be called when statje is jnclear to interfret it
develofing the common law: in Civil law or examfle contract law and in criminal law
Uncodified: absence o a legal code, the laws haven’t been systemised into codes
Codification of law into a statue: has been develofed by jdges throjgh the
medijm o case law and is then collected together and restated in statje
Adversarial system of trial: where two advocates refresent their fartess case
Doctrine of binding precedent: jdges may make decisions o freviojs sjferior
cojrts and sometmes cojrts o the same statjs, doesn’t jst look at earlier decisions
o jdges, bojnd to affly the law decided by those earlier cases
Parliament makes laws
, Different sorts of legal systems:
Common law/ civil law
Pjblic law/ frivate law
Natonal law/ Internatonal law
Common Law:
Not a resjlt o legislaton bjt is the law created by the decisions o jdges, offosed
to whole o England, not local law, not oreign
Contnjity rom old law
Absence o a legal code
Law-making role jdges
Doctrine o binding frecedent
Passive role jdge, actve role lawyers in adversarial system o trial
Advantages:
Flexible
Uf to date
Disadvantages:
Power with non-elected jdges
Difficjlt to fnd
Civil law systems:
Law codes
Demografhically drafted legislaton
Case law serves as a gjide bjt not binding
Actve role jdge, fassive role lawyers in inqjisitorial system o trial
Advantages:
Laws are made by a chosen body
Easy to fnd
Disadvantages:
Rigid
Ojt o tojch
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