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Law > Legal Principles and International Law > Flashcards

Legal Principles and International Law Flashcards

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1
Q

What are the 2 types of law?

A

Civil and Criminal

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2
Q

What is the definition for civil / criminal law?

A

Disputes between private individuals and organisations
Crime prohibited by law

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3
Q

What is the aim of legal action for civil/criminal law?

A

Compensation
Punishment

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4
Q

What is the standard and burden of proof for civil/criminal law?

A

On the balance of probability - claimant proves
Beyond reasonable doubt - prosecution proves

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5
Q

What are the main remedies for civil/criminal law?

A

Damages, specific performance, injunction
Fine/ prison

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6
Q

Who brings the action for civil/criminal law?

A

Claimant
The State, the crown, the Crown Prosecution Service

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7
Q

Legislation/statute law allows Parliament to?

A

Repeal earlier legislation
Overrule case law
Make new law
Codify case law

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8
Q

What is primary legislation?

A

Legislation created by Acts of Parliament

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9
Q

What is secondary/delegated legislation?

A

Created by specialist individuals
Leaves details to experts
Statutory instruments

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10
Q

What is case/common law?

A

Law that evolved through time as disputes are heard
Based on concept of judicial precedent
Parliament can override with new primary legislation done by recording legal decisions with strict rules

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11
Q

What is the Economic Crime and Transparency Bill?

A

Reforms to Companies House
Reforms to prevent abuse of limited partnerships
Creation of additional powers to seize cryptoassets
Gives businesses more confidence to share information in cases of suspected money laundering
Intelligence gathering powers
Disapplying civil liability for breaches of confidentiality for ML
No need for SAR before investigation
Reduction in documents

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12
Q

What is UNCCISG and when does it apply?

A

United Nations Convention on Contracts for the International Sales of Goods
A source of contract law parties in different countries can choose to apply to their dealings
Applies when sale of goods between parties in contracting states
Sale of goods between parties who refer to CISG in contract

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13
Q

What is the scope of the convention of UNCCISG?

A

Governs formation and rights and obligations
Rules for passing of risk of loss or damage to goods

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14
Q

What are the obligations of the buyer?

A

Pay price for goods and comply with formalities

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15
Q

What are the obligations of the seller?

A

Deliver to the place and time agreed
Follow rules regarding place in convention
Deliver at a reasonable time of contract formed
Deliver quantity, quality, description set out and packaged in agreed manner
Follow conformity requirements

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16
Q

What happens if either party fails to meet their obligations?

A

The other party can claim damages for loss suffered

17
Q

What is the passage of risk for carriage of goods included/ carriage of goods not included/ goods sold in transit?

A

Passes at time specified in contract/passed to first carrier
Buyer takes over goods/seller puts them at buyer’s disposal
Contract made, no matter where goods are

18
Q

What are Incoterms?

A

Standard terms to form international contracts to promote uniformity

19
Q

What are the 7 standard terms of Incoterms?

A

MIN obligations of seller to MAX obligations
EXW
FCA
CIP
CPT
DAP
DPU
DDP

20
Q

What are the 4 standard terms for goods travelling by ship?

A

MIN obligations of seller to MAX obligations
FAS
FOB
CFR
CIF

21
Q

What is Islamic finance governed by?

A

Sharia Law

22
Q

What is Riba (usury)?

A

Unlawful gain in Sharia law, translated as interest - interest is forbidden

23
Q

Loans in Islamic finance?

A

The bank buys the asset and sells it to the borrower at a higher price, borrower pays over period of time

24
Q

Deposits in Islamic finance?

A

Deposit money to the bank as an investment which bank manages. When returned, includes the profit from investments less management fee

25
Q

What are the environmental sustainability legislations?

A

Environmental Act
Companies Act

26
Q

What are the social sustainability legislations?

A

Equality Act
Employment Rights Act
National Minimum Wage Act
Bribery Act
Proceeds of Crime Act
Money Laundering Regulations

27
Q

What is the governance legislation?

A

Data Protection

Law (13 decks)

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