Flashcards
Introduction to Business Law
Flashcards do conjunto (7)
- 1Why do we need law and a legal system?A legal system is a set of rules that governs the way that a society functions. This allows disputes to be resolved without the need to resort to threats or violence. A legal system can also offer a degree of protection to the society as it often deters people from behaving in ways that would be very disruptive (stealing, using violence, etc.)
- 2The success of the world of business is very dependent upon an effective legal system for 2 main reasons:1. Business Confidence: Businesses will invest and deal with other parties if they know that the courts will provide a remedy if the other party breaks the deal. This helps the economy grow.
2. Business Protection: Governments are very powerful organisations who could act against the interests of business without laws to control their use of power. So law protects business from abuse of power by the state. - 3Countries with a Civil Law systemArgentina, Austria, Belgium, Brazil, Bulgaria, Chile, Cuba, Denmark, France, Germany, Greece, Mexico, Norway, Poland, Portugal, Russia, Sweden, Turkey, Vietnam
- 4Civil Law System CharacteristicsIt is based historically on Roman Law
Laws are devised by designated law-making bodies and written down as rules for society to abide by
Most advanced Civil Law systems are Codified - 5Countries with a Common Law systemAustralia, Bahamas, Canada, Gibraltar, Ireland, Jamaica, New Zealand, Northern Ireland, UK, USA
- 6Common Law System CharacteristicsCase decisions made in courts are of central importance.
Law is created by deciding cases and recording the reasons for the decision.
The decisions of senior courts MUST be followed in subsequent cases. - 7Countries with a Mixed Law systemChina, Cyprus, Egypt, Gambia, Hong Kong, India, Iran, Israel, Japan, Malta, Pakistan, Qatar, Singapore, South Africa, Thailand, Tunisia, Zimbabwe
Informações
- Descrição
- Why we have legal systems and the different ones in existence
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- jonte2020
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