4382378
| Question | Answer |
| Crime | Conduct prohibited by law |
| Criminal law | Exists to regulate |
| Regulation | Apply throughout Europe and they become part of the law of each member nation as soon as they come into force without the need for each country to make its own legislation |
| Directives | Issued to the govts of EU member states by the Council and Commission requiring them within a specified period (usually 2 years) to alter the national laws of state so that they conform to the directive |
| Decision | May be addressed to state, person or company and is immediately binding but only on recipient |
| Tort | Civil wrong and person wrong sues in civil court for compensation. The claimant's claim generally is that he has suffered a loss at the hands of the defendant and defendant should pay for damages |
| Quran | Allah's divine revelation to his Prophet, Muhammad |
| Sunnah | 'The beaten track', iow what has come to be the acceptable course of conduct. It is derived from the sayings of the Prophet, known as Ahadith |
| Contract | An agreement which legally binds the parties. The underlying theory is that a contract is the outcome of 'consenting minds'. Parties are judged by what they have said, written or done |
| Void contract | Not a contract at all. The parties are not bound by it and if they transfer property under it they can recover their goods sometimes even from a third party |
| Voidable contract | Contract which one party may avoid. Property transferred before avoidance is usually irrecoverable from a third party |
| Unenforceable contract | Valid contract and property transferred under it cannot be recovered even from the other party to the contract. But if either party refuses to perform or fulfil his side of the contract, the other party cannot compel him to do so. A contract is usually unenforceable when the required evidence of its terms is not available |
| Standard form contract | Document prepared by many large organisations setting out the terms on which they contract with their customers. The individual usually must take it or leave it |
| Offer | Definite promise to be bound on specific terms |
| Invitation to treat | An indication that a person is prepared to receive offers with a view of entering into a binding contract |
| Consideration | A valuable consideration in the sense of the law must consist in benefit accruing to one party, or some forbearance, detriment, loss or responsibility given, suffered or undertaken by the other |
| Past consideration | Something which has already been done at the time promise is made |
| Doctrine of promissory estoppel | If person makes a promise (unsupported by consideration) to another that is tended to be binding and acted upon and the other party acts on, or relies on it, the promisor is estopped from retracting his promise, unless promisee can be restored to original position |
| Privity of contact | As a general rule, only a person who is a party to a contract has enforceable rights or obligations under it. Third parties have no right of action save in certain exceptional instances |
| Misrepresentation | A representation of fact which is untrue made by one party to the other before the contract is made which is an inducement to the party misled actually to enter into the contract |
| Implied term | A term deemed to form part of a contract even though not expressly mentioned. Some terms may be implied by the courts as necessary to give effect to the presumed intentions of the parties. Other terms may be implied by statute. |
| Condition | Important term vital to a contract so that its breach will destroy the basis of the agreement. It may arise from an express agreement between parties or may be implied by law |
| Warranty | A minor term in a contract. If broken, the injured party must continue performance but may claim damages for the loss suffered |
| Consumer | 'A natural person who, in making a contract to which these regulations apply, is acting for purposes which are outside his trade, business or profession |
| Exclusion clause | A clause in a contract which purports to exclude liability altogether or to restrict it by limiting damages or by imposing other onerous conditions. They are sometimes referred to as exemption clauses |
| Unfair term | Any terms which contract to the requirement of good faith, causes a significant imbalance in the parties' rights and obligations under the contract to the detriment of the consumer. Terms must be in plain, intelligible language |
| Repudiation | 'A rejection to avoid a contract or to bring a contract to an end for breach of condition. The term may also be applied to a situation where a party renounces his/her contractual obligations in advance of the date for performance |
| Repudiatory breach | Occurs where a party indicates either by words or conduct that he does not intend to honour his contractual obligations. = serious actual breach of contract |
| Damages | A common law remedy and primarily intended to restore the party who has suffered loss to the same position he would have been in if the contract had been performed |
| Liquidated damages | 'A fixed or ascertainable sum agreed by parties at the time of contracting, payable in the event of a breach. If they are a genuine attempt to pre-estimate the likely loss, the court will enforce payment |
| Penalty clause | 'A clause in a contract providing for a specified sum of money to be payable in the event of a subsequent breach. If its purpose is merely to deter a potential difficulty, it will be held void and the court will proceed to assess unliquidated damages |
| Quantum meruit | 'How much it is worth'. Measure of the value of contractual work which has been performed. The aim of such an award is to restore the claimant to the position he would have been in if the contract had never been made, and is therefore known as a restitutory award |
| Specific performance | 'An order of the court directing a person to perform an obligation. It is an equitable remedy awarded at the discretion of the court when damages would not be an adequate remedy. Its principle use is in contracts for the sale of land but may also be used to compel a sale of shares or debentures. It will never be used in the case of employment or other contracts involving personal services |
| Injunction | A discretionary court order and equitable remedy, requiring the defendant to observe a negative restriction of a contract |
| Employee | Individual who has entered into or works under contract of employment |
| Contract of employment | A contract of service or apprenticeship |
| Discrimination | Practice of treating one or more members of specific group in a manner that is unfair as compared to treatment of other people not part of that group |
| Summary dismissal | Employer dismissed employee without notice |
| Constructive dismissal | Employer commits breach of contract, thereby causing employee to resign |
| Wrongful dismissal | Common law concept arising in specific circumstances and which gives employee action for breach of contract |
| Unfair dismissal | Statutory concept introduced by employment legislation. As a rule, every employee has the right not to be unfairly dismissed |
| Reinstatement | Return to same job without break of continuity |
| Re-engagement | Employee given new employment with employer on terms specified in the order |
| Ethics in business | Application of ethical values to business behaviour |
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