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Summary Law: International Business Awareness
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summary of law for the course international business awareness for the study ib.
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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
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