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The Role of Law in Business

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The Role of Law in Business
Key learning outcomes from Lecture 1:
 The legal effect of English settlement in 1788
 How laws are classified
 The different meanings of the terms “common law” and “civil law”
 What happens if there is a conflict between common law and statute law
 What is a 'federal” system of government and how this operates in Australia
 The doctrine of “separation of powers” and division of power under the Commonwealth Constitution
 How a law is made through the Australian Parliament
Tutorial Questions
1. How does law regulate business conduct?
2. Briefly explain how and when the Commonwealth of Australia was established?
3. What is the Constitution?
4. What is the distinction between “enacted” and “unenacted” law.
5. What do the terms “common law” and “statute law” mean? If there is a conflict between common law and statute law which law prevails?
6. Explain the doctrine of separation of powers.
7. How is the Australian Parliament structured? (In your answer, please provide the names of the separate “houses” of the Australian Parliament and explain their respective functions/roles?)
8. How does the role of the Governor-General of Australia differ from the role of the Prime Minister? Who is Australia’s current Governor-General?
1 The law is a systematic set of rules to regulate or control conduct within a society. For this reason, law regulates business conduct by a set of rules.
2 A ceremony in Centennial Park, Sydney, formally marked the beginning of the new nation and established elements of the first Commonwealth government. The commonwealth of Australia constitution was established on 1 January 1901 and came into effect on 1 January 1901.
3 A constitution is a set of fundamental principles or established precedents according to which a state or other organization is governed.
4 Enacted law (statute law) is law that has been passed through by State and Federal Parliaments. Unreacted law (common law) is law that has been passed through the

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