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commercial law > L1 > Flashcards

L1 Flashcards

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1
Q

What is the difference between public and private law

A

Wether the acts affect society as a whole or a grievance between two people

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2
Q

What is substantive law

A

Laws that defines the rights and duties of people as principles

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3
Q

What is procedural law

A

The rules that enforce the principles of substantive law

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4
Q

What is national, regional and international law

A

National law applies in one nation while regional law applies in larger regions such as the EU, international laws are recommendations from international organizations that can be woven into contracts

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5
Q

What is civil law

A

It details how to resolve conflicts and how victims should be compensated

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6
Q

What is criminal law

A

Laws that the government enforces without people needing to bring it to court that deals with crime such as tax fraud murder and the like. It punishes crime

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7
Q

In what parts of great Britton is English law applicable

A

England and Wales

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8
Q

Why do we study english law

A

Because laws all over the commonwealth are built on it

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9
Q

What are the pillars of common law

A

Judge made law, adversarial procedure and oral arguments

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10
Q

What is equity in law

A

Fairness and the application of good conscience yo the settlement of disputes

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11
Q

How is certainty, uniformity and consistency guaranteed in English law

A

Through judicial precedents where case law is made based in the outcome of previous trials

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12
Q

How does english law ensure flexibility

A

Through vague enough statements and the ability for judges to overrule, reverse and disapprove of previous case law if they have the authority

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13
Q

How did English law loose sovereignty when the uk joined the eu

A

Becouse eu law takes precedent over national law when in conflict

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14
Q

Has leaving the eu majorly affected english substantive commercial law

A

No

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15
Q

What are torts

A

Civil wrongs causing loss or harm that results in liability

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16
Q

Name some common torts

A

Trespassing, nuisance, negligence and criminal offenses such as assault and battery

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17
Q

What are the requirements for someone to be judge guilty of the tort of negligence

A

Defendant must owe plaintiff a duty if care and be in breach if that duty. The plaintiff must have suffered loss or damage and the breach of that duty must be the approximate cause of that harm

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18
Q

What does it mean that a standard of care applicable for someone to be accused if negligence must be an objective standard

A

That the standard if care that the accused should have upheld should be the one expected if any reasonable person in that circumstance

19
Q

What happens if the court finds that the cause if harm was not reasonably foreseeable

A

Then the accused need not pay

20
Q

What does it mean that liability is fault based in a tort

A

That the burden if proof that there is harm caused by the defendant lies with the plaintiff

21
Q

What does res ipsa loquitur imply in a tort

A

That the harmful situation speaks for itself and there is a reversal of onus aka guilty until proven innocent without shifting the burden of proof

22
Q

When is liability strict

A

When the burden of proof lies on the defendant

23
Q

Is negligent statements or misrepresentation a tort

A

Yes

24
Q

What does the doctrine of volentia non fit injuria imply

A

An uno reverse card type defense where the defendant accuses the plaintiff of negligence, common in collision cases. Means to a sane person injury is not done. Leads to proportional liability according to the degree of fault of each party

25
Q

What is the definition of a contact

A

An agreement between two parties that is legally binding

26
Q

Which are the requirements for a contract ti be legally binding

A

Offer acceptance and consideration

27
Q

What is consideration and what happens without it in relation to contracts

A

Consideration is the exchange of promises gains and detriment between the parties. Without it the law if gifts or estate apply not contracts

28
Q

What is consensus ad idem

A

Evidence of negotiations and acceptance and that there was a meeting of minds

29
Q

What is business efficacy

A

That a contract should be read as the parties intended when weighting. Standard form of language m is the norm but can be modified by the parties so no slang and lingo unless specified by evidence

30
Q

What is a quasi contract

A

Implied contracts often verbal

31
Q

What applies to unjust enrichment due to some contract tecnicality

A

It can be corrected by court

32
Q

What are representations in the context of contracts

A

Statements made to encourage the signing of contracts

33
Q

What happens when a contract representation is breached

A

Depending on if it is innocent negligent or fraudulent it can be a valid cause for action by law

34
Q

How can terms of a contract be categorized

A

Conditions (breach if which can result in major damages and termination). Warranty which if breached result in damages and innominate term which can be ether condition or warranty depending on the seriousness of breach

35
Q

What is contract repudiation

A

Rejection of a contract by a party such as non performance which is a breach

36
Q

What is contract recession

A

A form if remedy in contract law where you don’t need to perform when the other breaches or repudiates

37
Q

When is a contract void ad initio

A

When the contract was not legally binding in the first place such as the lack if capacity if a party to enter into a contract if for example they were under the influence of drugs, threatened or they were a minor or insane

38
Q

Can a. Contract be voidable due to some defect even if it was valid ab initio

A

Yea

39
Q

What does frustration if a contract mean

A

That it was impossible to perform without fault or blame on ether side

40
Q

Is self induced frustrations recognized by law

A

No

41
Q

What are remedies in a contract

A

Compensations, damages, civil sanctions. Means by which the plaintiff can be put back where they were before the damage in breach if a contract

42
Q

What are liquidated damages

A

When a remedy in the form of pecuniary compensation aka money favors or things is built into the contract

43
Q

What is equitable remedy

A

Also called extraordinary remedy and is a remedy in the form of a specific performance

44
Q

Name a couple of extraordinary remedies

A

Injunctions and prohibitions that stops and prevents the defendant from doing something in the future

commercial law (8 decks)

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