Lecture 1

Question 1

Legal System

Answer 1

protection of trust and interests when trading resources/talents/etc.

Question 2

Public Law

Answer 2

regulate markets, system and access to market

Question 3

Laws under Public Law

Answer 3

constitutional, administrative, criminal, procedural

Question 4

Private Law

Answer 4

regulate agreements b/w legal subjects and establish/continue business relationships

Question 5

Laws under Private Law

Answer 5

law of obligations & contract law; property law; commercial law; consumer law

Question 6

Montesquieu (what & what are the powers)

Answer 6

separation of powers;
legislative - laws of a country
executive - governance of state and can enforce the law
judiciary - enforcement of rights (courts)

Question 7

Commercial Law (Contract law)

Answer 7

-rights, relations and conduct of persons/businesses engaging in commerce, merchandising, trade, and sales
- contract - express terms of agreement + implied terms + principle of good faith
- uncodified custom and usage - informal rules of evidence + absence of protest(booking notes, bills)

-deals w/ both private and public law

Question 8

Soft Law

Answer 8

voluntary codes of best/good practices/codes of conduct

Question 9

Hierarchy of Norms

Answer 9

• supranational law > national law
• law > ministerial/royal decrees
• codified law > trade usages/practices

Question 10

Regulation

Answer 10

.for open market economy w/ free competition & formal freedom of contract
- to safeguard functioning of market
- party autonomy and anti-trust regulation
- compensatory rules:
= duty to inform (substantive freedom of contract);
= right of withdrawal (-=-);
= substantive contractual justice;

Question 11

Freedom of contract

Answer 11

a)freedom to (not) enter agreements
b)freedom to choose contracting parties
c)freedom to determine content of agreement

Question 12

Multilayered Legal System (private relationships)

Answer 12

a) hierarchy: 1.Consumer law (credit/sales law); 2.Commercial Law + Common Rules on Agreements + Contract Law

b) regulation is for “PERSONS” (market participants), and not products

b2) Consumer Image - an average consumer who is reasonably well-informed & reasonably observant & circumspect (vnimatelen)

b3) Special attention to certain consumer groups - children - responsible marketing!