Intro to Law and Business Flashcards
What is law?
Law is a rule/principle recognized and applied by the State in the administration of justice
- the set of rules
- made by the state
- enforceable by prosecution or litigation
What is justice?
Justice can be understood as fairness, such a fair compensation or punishment, a fair decision or a fair distribution of resources
What does law do?
- resolved disputes
- maintains social order
- preserves and enforces community values
- protects the disadvantaged
- stabilizes the economy
- prevents the misuse of power
Why does law change?
- political change
- the need to fix problems with the law
- changing community values
- pressure from lobby groups
- changing technology
Business law
The set of rules regulating businesses and business activities made by the state and enforceable by prosecution or litigation
3 types of justice
Distributive justice
Procedural justice
Retributive justice
2 laws in Australia
Common law
Statutory law & delegated legislation
Sources of law
Statute law - made by commonwealth , state & territory parliaments in the form of statutes (Acts)
E.g Racial Discrimination Act 1975 (Cth)
Case Law - made by courts (judges)
E.g Mabo v Queensland (No 2) (1992) 175 CLR 1
Common law system
Civil law - citizen v citizen Compensation \$\$$ An action between individuals Onus of proof on the plaintiff Proof based on balance of probabilities Aim at compensating the injured party
Criminal law - state v accused
Punishment e.g jail
State v accused onus of proof on the state
Proof must be beyond the reasonable doubt
Aim at punishing the offender
Common law meanings
- A legal system inherited from England
2. A source of law (common law as opposed to legislation)
Public law
Administrative law Constitutional law Criminal law Industrial law Taxation
Private law
Contract law Commercial law Torts law Property law Negotiable instruments Succession law Business entitles Trusts law
Common law v civil law
Common law - adversarial
Civil law - inquisitorial
Classifications of the law
Civil law legal system v common law legal system
Civil law
- statute (codified)
- based on Roman law
- emphasis on rights of parties
- emphasis on complete code of written laws
- mode of procedure is inquisitorial
Common law
- based on case law
- emphasis on remedies
- doctrine of precedent very important
- mode of procedure is adversarial
Civil law meanings
- A legal system most used in the world
2. A category of law within the common law system
