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ICAEW LAW > Chapter 1 - Legal principles and International Law > Flashcards

Chapter 1 - Legal principles and International Law Flashcards

1
Q

Types of Law
Civil Law - Definition

A

Disputes between private individuals and organisations

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2
Q

Types of Law
Civil Law - Terminology

A

Claimant and defendant
Defendant found liable

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3
Q

Types of Law
Civil Law - Aim of legal action

A

Compensation

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4
Q

Types of Law
Civil Law - Settlement

A

Could be reached without court action

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5
Q

Types of Law
Civil Law - Standard of proof

A

On the balance of probability

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6
Q

Types of Law
Civil Law - Burden of proof

A

Claimant must prove

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7
Q

Types of Law
Civil Law - Main remedies

A

Damages, specific performance, injunction

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8
Q

Types of Law
Civil Law - Who brings the action?

A

Claimant

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9
Q

Types of Law
Civil Law - Who decides the outcome?

A

Judge unless set outside court than agreement between parties

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10
Q

Types of Law
Criminal Law - Definition

A

Prohibited by law

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11
Q

Types of Law
Criminal Law - Terminology

A

Prosecution and accused
Accused found guilty
Punishment

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12
Q

Types of Law
Criminal Law - Settlement

A

Court must be used

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13
Q

Types of Law
Criminal Law - Standard of proof

A

Beyond reasonable doubt

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14
Q

Types of Law
Criminal Law - Burden of proof

A

Prosecution must prove

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15
Q

Types of Law
Criminal Law - Main remedies

A

Fine or imprisonment

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16
Q

Types of Law
Criminal Law - Who brings the action?

A

The state (prosecution)

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17
Q

Types of Law
Criminal Law - Who decides the outcome?

18
Q

Who is legislation created by?

A

Parliament

19
Q

What is Legislation sometimes called?

A

Statue law

20
Q

What can Parliament do regarding legislation?

A
  • Repeal earlier legislation
  • Overrule case law
  • Make new law
  • Codify case law
21
Q

What is secondary legislation also known as?

A

Delegated legislation

22
Q

Who creates secondary legislation?

A

Specialist individuals as directed by an Act of Parliament

23
Q

Who creates primary legislation?

A

Acts of Parliament

24
Q

What is case law also known as?

A

Common law

25
Q

What is case law?

A

Law that has evolved through time

26
Q

International Law - Choice of laws

A

Parties can agree in advance which laws will apply in case of dispute

27
Q

International Law

A

Parties can choose to adopt international rules developed by United Nations and International Chamber of Commerce

28
Q

United Nations Convention on Contracts for the International Sales of Goods 1980 (UNCISG)

A

Source of contract law parties in different countries can choose to apply to their dealings

29
Q

Obligations of the buyer under United Nations Convention on Contracts for the International Sales of Goods 1980 (UNCISG)

A

To pay the price for the goofs and comply with any formalities to enable payment to be made

30
Q

Obligations of the seller under United Nations Convention on Contracts for the International Sales of Goods 1980 (UNCISG)

A

To deliver the goods to the place and at the time agreed in the contract

To deliver goods of the quantity, quality and description set out in the contract and to package them in the agreed manner

31
Q

What happens if either party fails to meet their obligations?

A

The other party can claim damages for loss suffered

32
Q

When does risk pass when carriage of goods is included in the contract?

A

At the time specified in the contract, or, if not specified, when goods are passed to the first carrier

33
Q

When does risk pass when carriage of goods is not included in the contract?

A

Where the buyer takes over the foods or when the seller pits them at the buyer’s disposal

34
Q

When does risk pass when the goods sold in transit?

A

When the contract is made, regardless of where the goods are

35
Q

What is ICC Incoterms?

A

Incoterms is the abbreviation of International Contract Terms
These are the standard terms used to form international contracts to promote uniformity

36
Q

Who is Islamic finance is governed by?

A

Sharia law

37
Q

Riba (usury)

A

The concept of unlawful gain in Sharia law. It is usually translated as interest.

38
Q

What is sustainability?

A

describes a world of thriving economies and just societies based on what nature can afford.

39
Q

What legislation protects Environmental sustainability?

A

Environment Act 2021

Companies Act 2006

40
Q

What legislation protects Social sustainability?

A

Equality Act 2010

Employment rights Act 1996

National Minimum Wages Act 1998

Bribery Act 2010

Proceeds of Crime Act 2002

Money Laundering Regulations 2017

41
Q

What legislation protects Governance?

A

Data Protection 2018

ICAEW LAW (10 decks)

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