BESY Flashcards

1
Q

Definition of law

A

The principles and regulations established in a community by some authority and applicable to its people whether in the form of legislation or of custom and policies recognised and enforced by judicial decision.

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2
Q

Sources of law

A
  • Case law (Judicial Precedent)
  • Common law
  • Case law
  • Equity
  • Statute law:
    Direct legislation:
  • Acts of Parliament

Delegated legislation:
- Statutory instruments
- Byelaws
- Orders in council

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3
Q

Classifications of law

A
  • Common law and equity
  • Private law and public law
  • Criminal law and civil law
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4
Q

Common law and Equity

A
  • Common law:
  • Developed from local customs
  • Introduced the system of precedents
  • Only remedy is damages - Monetary compensation
  • May be rigid and inflexible.
  • Equity
  • Developed as a petition by a party who felt the common law had led to injustice.
  • More flexible than common law.
  • Introduced new discretionary remedies
  • Not granted if undue delay in presenting the case. The claimant has acted unfairly.
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5
Q

Public and Private law categories

A
  • Public law:
  • Criminal law
  • Constitutional law
  • Administrative law
  • Social welfare law
  • Everything that deals with matters relating to the whole country.
  • Private law: (Law enforced between individuals)
  • Contract law
  • Family law
  • Areas deals with intellectual property rights (Copyrights, designs and pattens)
  • Land law (The way it’s transferred)
  • Probate (Dealing with wills and property after someone died)
  • Company law (Deals with how companies are created and operated)
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6
Q

Criminal law

A

1) Form of PUBLIC LAW. Conduct or behaviour of which the State disapproves and which it seeks to control.

2) Purpose - Enforcement of particular forms of behaviour by the state, which acts to ensure compliance

3) The case is brought by the State in the name of the Crown. A criminal case will be reported as Regina versus …… (Defendant), where Regina means the Latin for Queen/King

4) Burden of proof - On the prosecution (State).

5) Standard of proof - Beyond reasonable doubt

6) Object - Regulate society by threat of punishment

7) Guilty - Fined or imprisonment
Innocent - Acquitted

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7
Q

Civil Law

A

1) Form of PRIVATE LAW. Involves the relationship between individual citizens.

2) Purpose - Settle disputes between individuals and to provide remedies.

3) Brought by the claimant. The case will be referred to as ……… (Defendant) v ………. (Claimant)

4) Burden of proof - On the claimant.

5) Standard of proof - Balance of probability

6) Object - Usually financial compensation, claimant back to where h would have been.

7) Pay damages or other remedies.

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8
Q

The civil court appeal system

A

1) Magistrates or County Court (First instance)
2) High court of justice
3) Court of Appeal (Civil division)
4) Supreme Court (Previously House of Lords)

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9
Q

The criminal court appeal system

A

1) Magistrates’ Court
2) Crown Court
3) Court of Appeal (Criminal division)
4) Supreme Court (Former House of Lords)

or

1) Magistrates’ Court
2) Divisional Court of the Queens Bench Division
3) Supreme Court

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10
Q

3 Divisions of the High Court of Justice

A
  • Queen’s Bench Division
  • Chancery Division
  • Family Division
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11
Q

Magistrates vs County court

A

Magistrate Court:
Jurisdiction is mainly criminal does have jurisdiction in family matters as contact order, adoption and maintenance.

County Court:
First instance civil claims in contract, tort (Damage another person), landlord and tenant, probate and insolvency. Deals with small claims and majority of fast track and some multitrack, all other claims are dealt with by the High Court.

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12
Q

County court -> Three-track system

A

1) Small claims - up to £10 000
Informal process

2) Fast track - Between £10 000 and £25 000
Formal process, expected to not last no more than a day.

3) Multitrack - Over £25 000 or complex claims

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13
Q

Court v Tribunal

A
  • Court:
  • Expertise: May not be heard by specialist in the area of law.
  • Speed: Slow process
  • Cost: Legal aid available, but can be costly
  • Proceedings: Strict rules relating to evidence, pleading and procedure.
  • Decision: Are consistent bound by judicial precedent.

Tribunal:
- Expertise: Will be heard by expert in the field.
- Speed: Quickest process
- Cost: Legal aid not available, can be much cheaper.
- Proceedings: Much less formal and can be less intimidating.
- Decision: Not bound by judicial precedent and risk of making inconsistent decisions.

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14
Q

Sources of the law

A
  • Legislation takes precedence over case law
  • Equity prevails over common law
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15
Q

Three factors deciding if a judicial precedent is binding or persuasive

A
  • Hierarchy of the court
  • Ratio decidendi and obiter dicta
    (Rational for the decision) and (Opinion of the judge)
  • Material facts of the case
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16
Q

Judicial precedent is not binding

A
  • Overruled by a higher court
  • Overrule by statute law
  • Made without proper care or because the judge was misinformed by the law.
  • If it can be distinguished from a earlier case.
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17
Q

Advantages & disadvantages of judicial precedent

A

Advantages:
- Consistent outcome
- Adaptable & Flexible
- Clear process as only ratio decidendi is followed
- Decision is bases on actual events

Disadvantages:
- Law is complex
- Law can be rigid & inflexible
- Reactive rather than proactive

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18
Q

Act of parliament

A
  • The House of Commons
  • The House of Lords
  • The Monarch
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19
Q

Stages for a Bill to become an Act of Parliament

A

1) First reading: Name of Bill and proposer

2) Second reading: Debates takes place on the principle of the Bill and then voted upon.

3) Committee stage: Smaller no. of MP’s consider the wording of the Bill. This stage can last 7 months (Depending on how complicated and contentious the Bill is)

4) Report stage: The Bill is amended by the Committee and is reported back to the full House.

5) Third reading: Bill is read to final time.

End of this process in both Houses, the Bill must receive the Royal Assent.

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20
Q

Doctrine of sovereignty of Parliament

A

Parliament is sovereign. In theory, Parliament can make new law and can make any law it wishes. However, it cannot pass an Act which can never be repealed.

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21
Q

Delegated legislation

A
  • Statutory instruments: made by Government Ministers
  • Bye-laws: Made by local authorities
  • Orders of Council: Made by the Privy Council in the name of the Monarch on the advice of the Prime Minister.
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22
Q

Advantages and Disadvantages of Delegated legislations

A

Advantages:
- Saves Parliament time
- Parliament to vote on the principle
- Flexibility

Disadvantages:
- Difficult to keep up with changes
- Considered undemocratic

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23
Q

Contract: Elements to form a valid contract

A
  • Agreement -> Offer and Acceptance
  • Consideration
  • Capacity - No minors and sound of mind (Not under influence)
  • Legality
24
Q

Contract: What is an offer

A

What is:
Definite promise to be bound on specific terms

25
Q

Contract: What is not an offer

A

If a party has not made an offer there can be no binding contracts:

  • Invitation to treat: Invitation to another party to make an offer:
  • Most adverts
  • Shops window displays
  • Goods on shop shelves
  • Company prospectus
  • Circulation of a price list or website
  • Tenders
  • Supply of information: Statement made early in the negotiation is unlikely to be an valid offer.
  • Statement of intention: A statement of an intention to sell is not an offer.
  • Vague statement: A statement cannot constitute an offer it it is not sufficient specific.
26
Q

Contract: Termination of the offer

A
  • Rejection & Counter offer
  • Revocation: (Offer revoked)
  • Can be made at anytime before acceptance.
  • Can be made even if the offeror has agreed to keep the offer open.
  • Needs to be communicated
  • Failure of a pre-condition
    When a condition of the offer isn’t met.
  • Lapse of time
    Offer not accepted within a certain time limit.
27
Q

Contract: Acceptance of the offer

A

By oral, writing or by conduct.
- It must be communicated.
- It must involve some act on the part of the offeree

28
Q

Consideration of contract

A
  • Valid of consideration: Both executed and executory consideration is capable of being valid consideration.
  • Executed consideration: Consideration provided at the time of the agreement.
  • Executory consideration: Provided when the party agrees to do something in the future at the time of the agreement.
  • Sufficient but not adequate:
  • Something of value
  • The value of the consideration does not have to be justified.
29
Q

Invalid consideration

A
  • Past consideration: Involves something which has already been done at the time the promise is made.
30
Q

Discharge of contract

A

1) By performance: Both parties perform their obligations under the contract.

2) Breach of contract:
* Actual breach of contract:
- One party fails to perform their part of the contract.
- When the work is so dissatisfactory that the innocent party may well have never entered the contract.

  • Anticipatory breach of contract:
  • Express - They not going to carry out their obligations.
  • Implied - Actions make it impossible to carry out their obligations.
31
Q

Breach of contract - Damages

A

Damages are a common law remedy for the breach of contract, if there is no provisions in the contract for damages the court will determine on the basis of principle known as UNLIQUIDATED DAMAGES.

1) Remoteness: Since it may not be justifiable to blame the party at fault for all the consequences of their actions. Damages will only be rewarded for losses which are not too remote.
* Normal losses - Natural consequence of breach
* Abnormal losses - Outcomes not reasonably foreseeable by both parties.

2) Measure of damages: Financial value of the claimant’s loss. Often referred to as protecting the ‘expectation interest’ of the claimant (Injured party)

3) Damages for loss of bargain:
If the claimant had to spend more due to the other party didn’t uphold to their end of the contract.

4.1) Liquidated damages: Genuine pre-estimate of the expected loss and are enforceable by the court.

4.2) Penalty clauses: Imposes a sum which is arbitrary or excessive and not usually enforceable. A sumis presumed to be a penalty clause:
* Amount is out of proportion
* Same amount is given for lots of potential losses.

32
Q

Equitable remedies will not be grated if

A
  • Damages are an adequate remedy.
  • The claimant has acted unfairly.
  • Unduly delay in bringing the case
33
Q

Micro-economic environment

A

Interaction between individuals, firms and industries.

Focus on how these three make decisions to allocate recourses

34
Q

Micro-economic environment - Demand

A

How much a good or service someone intends to buy at different prices.

Expansion: Demand increase -> price decrease
Contraction: Demand decrease -> price increase.

Different effects effect demand
* Substitution effect -
* Income effect -

35
Q

Micro-economic environment - Supply

A

Show how many units producers would be willing to offer for sale, at different prices.

Different effects effect supply:
* Changes in production cost
* Indirect taxes
* Technological innovations
* Efficiency

36
Q

Consideration when starting a business

A
  • Production efficiency -> How
  • Premises -> Where
  • Staffing -> Who
  • Selling price -> £££
37
Q

Risks when starting a business

A
  • Demand is lower
  • Costs are higher
  • Competition of price
  • Market moves on -> other innovation
38
Q

Globalisation

A

Operates in lots of countries. Bases in the UK, but buys and sell in other countries.

39
Q

Government control of the economy

A

Key objective is to maintain a steady economy.

Can be measured by:
* GDP
* Inflation
* Unemployment

Influence economy:
* Extra spending
* Adjust taxes
* Legislation that has financial effects

40
Q

Good tax system characteristics

A
  • Fair - Reflects person’s ability to pay
  • Absolute - Certain not arbitrary
  • Convenient - Easy to pay
  • Efficiency - Low collection cost
41
Q

3 Major principles of good tax policy

A
  • Equity - Make sure the person can afford it
  • Efficiency - Cheap and easy to collect
  • Economic effect - Do they get as much benefit as they loose by paying tax, the idea is everyone gets more.
42
Q

3 Types of taxes

A
  • Progressive taxes - Income increase -> Tax increase
  • Proportional taxes - Income increase -> Tax stay still
  • Regressive tax - Income increase -> Tax decrease
43
Q

UK tax system, HMRC comprises a number of different taxes and are collected by:

A
  • Direct taxes on individuals
  • Income tax
  • Capital gains tax
  • National insurance contributions
  • Inheritance tax
  • Direct taxes on businesses
  • Employer NIC
  • Corporation tax
  • Indirect tax
  • Collected from the taxpayer via an intermediary and pays it to HMRC.
  • VAT
44
Q

Interest rates

A

In the UK it is set by the Bank of England. The Bank of England can change the base interest rate in order to influence inflation, normally to keep it low and stable. It can influence customer spending.

Consumers spend more -> Growth in the economy -> higher employment.

45
Q

Tariffs

A

Taxes -> Import goods and services

46
Q

Globalisation - Advantages v Disadvantages

A

Advantages:
* Job creation.
* Lower pricing
* Improved Tech access
* Improve productivity

Disadvantages:
* Create inequality
* Detrimental to the environment
* Too much competition

47
Q

Exchange rates

A

How currencies compare from different countries and how it will effect import & export.

48
Q

What is Ethics

A

Principles that govern behaviour

49
Q

Fundamental ethical principles

A
  • Confidentiality
  • Objectivity - No conflict of interest
  • Professional behaviour
  • Integrity - Knowing right from wrong
  • Professional competence and due care - Up to current with information.
50
Q

Threats to ethical principles

A
  • Self-interest: Acting in own interest and not in client, customer or employer.
  • Self-review: Re-evaluate our own work or performance.
  • Familiarity: Allowing judgement to be effected by close relationships.
  • Advocacy: Stopping you from being impartial.
  • Intimidation: Physical or Financial
51
Q

AAT Disciplinary Process
Full or fellow member

A
  • Expelled
  • Suspended
  • License withdrawn
  • Declared ineligible
  • FMAAT -> MAAT
  • Reprimanded
  • Fined
  • Warning
52
Q

AAT Disciplinary Process
Affiliate or student

A
  • Unfit to progress to full membership
  • Student membership withdrawn
  • Warning
  • Fined
  • Fixed period where you can’t sit assessments
  • Assessment result voided
  • Reprimand
53
Q

Sustainability and CSR

A
  • Sustainability:
    Achieve todays needs without stopping future generation from meeting their needs.

CSR - Corporate social responsibility:
- People, Planet & Profit
- Triple bottom line reporting

54
Q

Consideration of ‘People, Planet & Profit’

A
  • Recycling
  • Virtual meetings rather than traveling
  • Other forms of transport
  • Power saving schemes
  • Maintaining relationships with other companies with similar CSR standards or policies.
55
Q

TBL reporting

A

Triple bottom line reporting
- Holding people accountable

56
Q
A