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MGT388 - Acc & Law > Law - L1 > Flashcards

Law - L1 Flashcards

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1
Q

What is the English legal system based on?

A

Common law, aka “Judge made law”

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2
Q

What is a tribunal?

A

A person or institution with authority to judge

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3
Q

What does “Quasi-judicial” mean?

A

Essentially judicial in character but not within the judicial power or function

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4
Q

What does Common Law being precedent mean?

A

It is a rule established in a legal case that becomes authoritative to a court when deciding subsequent cases with similar legal issues or facts.

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5
Q

What does the strength of an authority depend on?

A

Upon it having like facts to the case in hand and generally that it was decided in a higher court.

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5
Q

What is a statute?

A

A written law passed by a legislative body.

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6
Q

What are (the first) two types of law?

A

Criminal and civil

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7
Q

Who sets out the rules for criminal law and why?

A

Society, for all our benefit.

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8
Q

Who brings about legal action in regards to criminal law?

A

The state (CPS)

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9
Q

What is the CPS?

A

Crown prosecution service; they determine which cases should be prosecuted; the appropriate charges.

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10
Q

Who pays fines imposed in relation to an infringement in criminal law?

A

The state

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11
Q

How must the state show that a defendant is guilty in criminal law?

A

Beyond reasonable doubt

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12
Q

Who brings about legal action in civil law?

A

The individual who feels that they have suffered

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13
Q

Who is action brought against in civil law?

A

The party perceived as having done them wrong

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14
Q

Where does the sum of the damages identified as payable by the court go to in civil law?

A

The party bringing the action

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15
Q

What must the claimant show that the defendant is in civil law?

A

Liable “On the balance of probabilities”.

16
Q

What is a claimant?

A

A person making a claim in a lawsuit

17
Q

What is a defendant?

A

The sued/accused individual, company, or institution.

18
Q

What are (the second) two types of law?

A

Public and Private

19
Q

What does public law concern?

A

Public sector in undertaking its public functions

20
Q

What type of contracts are public sector organisations still required to enter?

A

Private contracts

21
Q

Give two examples of public sector organisations entering into private contracts

A

Hospital buying paper and pens

Council paying construction firm to build new school

22
Q

What are two typesof Judge Made Law?

A

Common Law (rule based) = certainty

Equity (discretionary) = use court’s discretion to address injustice

23
Q

What is estoppel?

A

A legal principle that prevents someone from arguing something or asserting a right that contradicts what they previously agreed to or said.

24
Q

What is specific performance?

A

A declaration by the court compelling a party to perform its contractual obligations

25
Q

What is privity?

A

Principle that states that only the parties to a contract can enforce its terms or be obligated by it.

26
Q

When does a contract become proprietary interest?

A

When it’s assigned as property.

27
Q

What are three reasons why companies may enter into contracts?

A

Facilitate exchange/make bargains

Plan commercial relationship

Provide certainty

28
Q

In what two forms can contracts come in?

A

Oral or written (except in contracts for land).

29
Q

What is calculation of damages?

A

Where courts calculate sum of money which will put the wronged party in the position that they would have been if the contract had been successfully completed. This may lead to specific performance.

30
Q

What are 5 essential components of a valid contract?

A

Offer

Acceptance

Consideration

Intention to create legal relations

Certainty

31
Q

What is an offer?

A

An unequivocal indication of a willingness to be legally bound by a promise if the terms of the offer are met - includes all the essential terms.

There is an “intention to create legal relations” at this stage.

32
Q

What are 5 examples of “not offers” (merely invitations to treat)?

A

Price lists

Advertisements (although unilateral contract may exist)

Window/shop displays

Invitations to tender

Auction

33
Q

What is a unilateral contract?

A

Where one party (the offeror) makes a promise in exchange for the performance of a specific act by the other party, known as the offeree.

34
Q

What is a bilateral contract?

A

An agreement between two parties in which each side agrees to fulfill their side of the bargain.

MGT388 - Acc & Law (1 decks)

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