Business Law Legt1710

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Business Law–LEGT1710
The Role of Law In Business
The Law is a systematic set of rules to control conduct within a society, created by parliament and is enforced by courts. Sources of Law
Law is made up of two parts:
1. Enacted (Statute) Law: law that is made by parliament. It can be changed by parliament but is interpreted by judges. In the case of a conflict between statue and common law, statue law prevails under the Doctrine of Parliamentary Supremacy as it has the ultimate law making power. The parliament can authorize other bodies to make laws called delegated legislation. Delegated legislation is often made without public or parliament debate. To safeguard delegated legislation, it can be reviewed by courts and is still controlled by the parliament 2. Unenacted (Case) Law: judgments passed by judges in previous cases, can be overridden by parliament but developed by future cases Together, these are known as Common Law. Australia adopted the Common Law system of England. Equity

Equity is a body of legal principles or rules developed by the Courts of Chancery (Courts of Equity) in England in response to the growing inflexibility of common law. England has two parallel court systems * Courts that could only award money damages

* Courts of Equity that could issue broader range of remedies Courts of Equity seek to make defendants to fix their actions and is not applicable to criminal law. There are two types of equitable remedies that can be sought * Injunction: A court order directing a person to stop doing something * Specific Performance: A court order directing a person to carry out an obligation When entering the court, parties must enter with clean hand, Classification of Australian Law

Australian law can be classified as:
* International/domestic: International law involves conduct between states based on customary rules, treaties and conventions. Domestic law comes from state or common law and regulate people within Australia * Public/Private: Public law involves the government and its relationship with the people whilst private law deals with disputes between individual or organizations * Substantive (What the dispute about) /Procedural (Administrative side of law): Substantive law is concerned with the actual rights and duties of individuals and organizations under the law whilst procedural law is concerned with the conduct and process of proceedings * Common/civil law: Common law involves the interpretation of law whilst civil law follows a legal code. * Civil actions/Criminal actions: Civil action is brought by one entity against another where there is a focus on remedies and the plaintiff is to prove a case on the balance of probabilities. Criminal action is brought by the crown against an accused where there is a focus on punishment and the prosecution is to prove the case beyond a reasonable doubt. Evolution of The Australian Legal System

The regulation of Australian business law began in 1788 when the first fleet arrived in Australia and an English system of law was adopted. Upon arrival colonies were established and classified as either: 1. Territory acquired by treaty or military action

2. Territory that was terra nullius, where no recognition was given to the rights of the indigenous people Following this
* 1823 – Court system & legislative council established thought the NSW Act giving it the status of full colony * 1828 to 1853 – development of the NSW parliament:
* 1855 – NSW Constitution
* 1865 – Colonial Laws Validity Act is passed which allowed the UK to legislate for colonies in any ways so long as it was not distasteful and consistent with relevant Imperial law. It was known as a colony because it was before federation * 1901 – Federation was established by the Commonwealth of Australian Constitutions Act 1900 (Imp) which: * created a federal authority of the Commonwealth and outlines its powers * Established a...
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