Chapter 1 Law and Legal Reasoning N.B.: TYPE indicates that a question is new‚ modified‚ or unchanged‚ as follows. N + = A question new to this edition of the Test Bank. A question modified from the previous edition of the Test Bank. A question included in the previous edition of the Test Bank. TRUE/FALSE QUESTIONS B1. Laws and government regulations affect almost all business activities. ANSWER: T BUSPROG: Analytic B2. N PAGE: 4 TYPE: AICPA: BB-Legal + The
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Tort Law Tort laws are laws that usually involve state law and civil suits. State law are based on the legal premise that individuals are liable for the consequences of their conduct if it results in injury to others while civil suits are actions brought to protect an individual ’s private rights. A body of rights‚ obligations‚ and remedies that is applied by courts in civil proceedings to provide relief for persons who have suffered harm from the wrongful acts of others (Tort Law‚ 2013).
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INTRODUCTION TO BUSINESS LAW The Law of Tort Core Reading: Lucy Jones‚ Introduction to Business Law (Oxford University Press‚ 2011). Chapter 11 on The Tort of Negligence (Refer to pages 340 – 374). Please note that we ARE NOT going through every single areas in relation to negligence. For instance‚ the area on nervous shock. Aims and Objectives: - To enable students to appreciate the general law of tort‚ especially the concept of negligence; To understand how this area applies
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How Does Equity Fulfill the Common Law Common Law Equity fulfils the common law‚ although it does not endeavour to displace it with a moral code. In order to be influential‚ the law is to be professed as both certain and predictable‚ and also flexible and fair. Specifically‚ it needs clear rules on the one hand‚ but flexibility on the other to produce exceptions to cases that lead to apparently incongruous or unjust conclusions if the rules are
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THE CHINESE UNIVERSITY OF HONG KONG School of Accountancy ACY 3151 D– Company Law Preserve The Common Law Derivative Action in Hong Kong Presented to Professor C.K. LOW Submitted by Tony BAI Dongyi; Ashley CHEN Xi; Ri REN Xinyu; Zoe ZHOU Beinan 30 April 2010 Abstract This paper is a response to the First Phase Companies Ordinance Rewrite Consultation Paper Question 7 whether we should abolish the common law derivative action (the CDA) currently retained by sec. 168BC (4) in the amended
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characteristics of common law system? Do you think this legal system is good enough to protect the rights of individuals and organizations? Common law‚ system of law that prevails in England and in countries colonized by England. The name is derived from the medieval theory that the law administered by the king’s courts represented the common custom of the realm‚ as opposed to the custom of local jurisdiction that was applied in local or manorial courts. In its early development common law was largely
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(the law of the place of conclusion of the marriage). This rule is founded firmly in Roman-Dutch law and entrenched in South African case law. ( Exception: S 10 of the Marriage Act 25 of 1961 makes provision for South African diplomatic and consular officers to solemnise marriages between South Africans in the countries in which they are stationed. Such embassy marriages are deemed to have been concluded in South Africa and their formal validity is thus governed by South African law (as the
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Classification of Laws An important method of classifying law is according to the system in which it is created. • common law Rules of law created by the courts through judicial decisions. Courts “make law” as part of the process of deciding cases and controversies before them. The case law created in this process is based on a doctrine known as stare decisis. This doctrine is based on the notion that prior decisions provide guidance that should be followed in subsequent cases involving the
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in a federal state like the US or Australia) because all the separate parts are subject to the UK Parliament. This is said to have sovereign power. This means that it is subject to no higher legal authority and has the power and authority to make laws for all the separate parts of the UK. In a federal state‚ the parts reserve powers to themselves. England‚ Wales and Scotland (without Northern Ireland) are sometimes referred to together as Britain. But Britain or Great Britain also sometimes refers
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Unwritten law is law that has not been enacted by the legislature (Parliament and the State Assemblies) and this law is not found in the written Federal and State Constitutions. This law is found in cases‚ which have been decided by the courts and local customs. Unwritten law is mainly comprised of: 1. English Law English law forms part of the laws of Malaysia. English law can be found in the English common law and rules of equity. However‚ not all of England’s common law and rules of
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