Business Law

Topics: Common law, Law, Civil law Pages: 23 (8532 words) Published: January 26, 2013

Name Miss Saadia Aziz Student Number 1162560 Subject Business Law Subject Number BBC131 Trainer Mr Tony Antoniou Due Date 7th Oct 2012

Chapter 1
Tutorial Questions
1 Why did common law become so rigid and flexible?
The social behaviour of surroundings where society exists and the device which regulates this social and economic behaviour is called a law. Basically this is taken from the two laws case and statute law. We can’t allocate this law in any legislation this is what which only exist in pasts scenarios, this makes it so rigid and flexibility also lies. It also has power to adapt those things which were changed as a whole. It makes the basic rules of English law. 2 In what ways does equity law differ from common law?

Equity law isn’t comprehensive system. It acts only against the individual not proper etc. Equitable rights are valid only against those persons specified by the court. In equity law remedies must be applied for promptly or they may not be enforceable. And if common law is concerned it is a comprehensive system. Common law rights are enforceable at any time, subject to the operation of a state or territory’s statute of limitations. Common law rights are valid against the whole world. Remedies are discretionary in equity law while these are not discretionary in common law. 3 What are the main differences between Common law and Statute law? Common law is the law created through the reported decision of judges (the doctrine of precedent) in the higher courts. It is non-statutory law, as it is law made by the courts. It is also known as case, precedent or unenacted law. Statute laws made by the federal and state parliaments in the form of statute or legislation or other government bodies in the form of by-laws, orders, rules and regulations and known as delegated legislation. It is also known as Enacted law. In the event of conflict between statute and common law, statute law prevails. 4 In the 21st Century, what problem does business face under a federation model such as exists in Australia? Business could not exist without the law. There are very few aspects of life personal and business which are not regulated law, either directly or indirectly. Internal fraud is by far the bigger problem for corporate Australia, with internal employees involved in activities such as false invoicing, online payment frauds, expenses frauds and collision with suppliers to inflate prices for the benefit of both parties. 5 Numerous attempts have been made to arrive at a satisfactory test for identifying a law. Select one of the following and explain whether you think its adequate for identifying a law: a- The law is something that all people ought to obey.

b- Law is a command by a political superior to a political inferior. c- Law is rules established by people who have control of organised power. d- Law is the highest reason implanted in nature

e- Law is a command from God that is recognised through the human intellect. f- Law is what the court says.
Explain why those other tests are unsatisfactory. If none of the test is in your opinion satisfactory, explain why and try to make your own test. I think a, c, d, and f options are the satisfactory tests. B is not considered to be satisfactory to me because politicians don’t have power to make laws be acted upon via inferior politicians, law means something legal and it is always forced by the government and authorised groups of people. People make law about the way they think. B and E statements are not thought provoking...
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