Introduction to Business Law Flashcards
Explain what is criminal law, with examples.
Criminal law deals with wrongdoings that will be punished by the State. Traffic offenses, bribery, murder, theft, computer crimes and a breach of professional or statutory duties are considered criminal conduct. All such acts are regarded as acts of disobedience to the state, despite being committed against individual members of society or certain business organizations. The state will prosecute such acts and the wrongdoer and punish them if found guilty.
Explain what is civil law and the purpose of civil law.
Civil law focuses on the private rights and duties between individuals or business entities like companies, etc. The civil law provides a framework of rules to regulate parties’ relationships with each other.
At times, one party or even both parties may breach their legal obligations to each other. In such cases, the parties sometimes manages to resolve or settle their disputes in a friendly manner without involving any 3rd party. However, if they fail to do so, one party may decide to bring legal claim against the other party in court of law.
The main purpose of civil lawsuits is to compensate the injured party, unlike criminal law where the main purpose is to punish the offender.
What are the 2 main characteristics of criminal law?
Criminal law consist of the public element and the punishment. For public element, the state is directly involved in enforcing criminal law, to protect the general public. Conduct is made criminal if it threatens society, its well-being, security and good order. Secondly, criminal law involves the enforcement by the State of laws designed to protect the individual and the community. The state accepts responsibility for the detention, prosecution and punishment of offenders.
For punishment, the range of punishment that the Singapore courts can impose include death, imprisonment, fines, caning or probation.
What are the 2 main characteristics of civil law?
Civil law involves the private element and compensation. Private element involves a private dispute between individuals or entities such as companies, when one’s party’s acts or omissions negatively affects another person’s legal rights. The affected party who suffers loss or damage (the plaintiff) has to decide whether to bring a civil lawsuit to court or to settle the matter out-of-court.
Compensation usually occurs when the court awards damages to the plaintiff, if the plaintiff succeeds in proving his case and the other party who is legally responsible for causing the loss or damage is found liable under the law.
