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CIMA ethics > Chapter 4-8 > Flashcards

Chapter 4-8 Flashcards

1
Q

Civil Law distinctions

A

Claimant, proof is balance of probs, decisions liable/not libel, compensation, remedies are damages

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2
Q

Criminal Law distinctions

A

Prosecution, proof is beyond reasonable doubt, guilty/not, punishment, and remedies are fines or prison

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3
Q

Common Law

A

law created by judges through their application of principles of judicial precedent. added certainty

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4
Q

Equity Law

A

fairness is the principle. where common and equity law conflict, equity will prevail. gloss to the common law

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5
Q

UK Statute legislation process

A

Green Paper, White Paper, First Reading, Second Reading, Committee Stage, Report Stage, Third Reading. Must be completed by both houses, then royal assent

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6
Q

public acts

A

government or private member bills

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7
Q

private acts

A

power relating to individuals, such as a company given power to acquire land through compulsory purchases (Olympics)

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8
Q

Enabling acts

A

those acts that confer legislative abilities to designated bodies

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9
Q

Consolidating legislation

A

designed to bring together existing acts without emending them

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10
Q

codifying legislation

A

Bringing together existing statute with common law rules such as Partnership Act 1890

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11
Q

Orders in Council

A

Delegated legislation - created by non party political body of parliamentarians known as the privy council

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12
Q

statutory instruments

A

delegated legislation - created by government ministers

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13
Q

Advantages of delegated legislation

A

time saving, expertise, flexibility (laws can be changed quickly)

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14
Q

Disadvantages of delegated legislation

A

Accountability, scrutiny, bulk (3000 SIs per year leading to increasing bureaucracy and compliance costs for UK business)

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15
Q

Control of delegated legislation

A

Parliment and Courts (may declare any piece of delegated legislation ultra vires and void

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16
Q

Ultra Vires

A

Beyond capacity

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17
Q

Canons of Statutory Intepretation

A

When reading acts. Does not alter common law, no retrospective effect, does not deny liberty, crown is not bound, international laws not broken, strict liability will not be imposed, eiusdem generis

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18
Q

Eiusdem Generis

A

when a general list of words follows a specific example, list will be interpreted in lught of the specific example

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19
Q

Literal rule of intepretation

A

words will be given their dictionary meaning

20
Q

Golden rule of interpretation

A

when application of literal rule results in a manifest absurdity

21
Q

Mischief Rule of Intepretation

A

enable the judge to intepret a statute in such a way as the give the statute the lawful effect for which it was intended

22
Q

Intrinsic Aids for intepretation

A

The title, the preamble, schedules of the act

23
Q

Extinsic aids for intepretation

A

Interpretation act,, hansard, dictionary, reports of commissions (such as law commission reports)

24
Q

Primary EU Law

A

Treaties - directly applicable

25
Q

Secondary EU Law

A

Regulations (directly applicable and binding); directives (not directly applicable, left to members to alfter national law within 2 years); Decisions (binding to recipiant states and individuals, relate to operation of EU law); recommendations (no formal legal effect, but persuasive)

26
Q

Legislative Procedure of EU

A

ECJ (final authority on communitee law); Council of Ministers (responsible for adoption of legislation proposed by commission); Commission (propose draft legislation); European Parliment (advisory and debating body which council of ministers brings law into effect)

27
Q

Stare Decisis

A

to stand by a decision

28
Q

Heirarchy of courts UK

A

Supreme Court (binds all lower courts, but not itself); court of appeal (binds all lower courts, and itself); High Court (binds all lower courts, and usually itself); Crown, magistrate, county (cannot create precedent)

29
Q

Judge reaching a decision

A

examine the facts to detemine material facts, consider the law, apply the law

30
Q

Ratio Decidendi

A

reason for decision - binding element

31
Q

Obiter Dicta

A

Statements made by the way - non binding but persuasive

32
Q

When established presidents are not binding

A

Overruling; reversing; per incuriam (decision made without care); distinguishing (president is avoided by demonstating material facts are different)

33
Q

Advantages of State Decisis

A

Certainty, reform & flexibility; bulk

34
Q

Disadvantages of State Decisis

A

Danger of illogical decisions, rigidity, unconsitiutional, retrospective (law reactive rather than proactive

35
Q

Country that use codified legal systems

A

France, Germany, Poland, Italy, Greece, Cyprus

36
Q

USA System of Law

A

Operates at national and state level, with federal law prevailing. Constitution seen as supreme law of the land. Federal Legislation introduced by two chambers of congress. Law of president

37
Q

Chinese System of Law

A

administered through system of 800,000+ mediation committees

38
Q

Primary sources of Sharia Law

A

Qur’an, Sunnah (directions approved by Prophet), unanimity of the diciples of Muhammed

39
Q

5 Pillars of Islam

A

Obligatory, meritorious, permissible, reprehensible, forbidden

40
Q

Tort Defined

A

wrongful act act against an individual which gives rise to a civil claim

41
Q

Claimant must prove for a tort to exist

A

duty of care owed; breach of that duty; breach of duty caused harm; losses were not too remote

42
Q

Duty of care qualification

A

was harm caused reasonably foreseen? was there sufficient proximity? Would it be fair, just and reasonable to impose duty of care?

43
Q

Standard of care owed by individual

A

Skilled persons (e.g. qualified accountant); likelihood of injury; seriousness of risk; cost and practicality

44
Q

Causation Test

A
  1. Causation for fact - ‘but for’ test. 2. causation on law - claiment must prove the is no novus actus intervenius
45
Q

Novus Actus Intervienus

A

break in chain of causation

46
Q

Defences for a tort

A

avoid, avoid (known risk on behalf of claiment), reduce (claimant has contibuted to injury); limit (tort should be brought forward within 6 years)

47
Q

Negligent misstatements

A

special relationship with defendent to establish duty of care. e.g. accountants, auditors, options given in professional capacity, client suffers economic loss

CIMA ethics (4 decks)

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