Week 1

Question 1

Why is there law?

Answer 1

In order to do business, people need trust, protection of their interests & reliance on the system

Question 2

Public Law

Answer 2

to regulate the markets, the system and the access to the market

Constituational
Administrative
Criminal
Procedural

Question 3

Private law

Answer 3

to regulate agreements betweens between legal subjects, establish & continue business relationships

Law of obligations & contract law
Property law
Commercial law
Consumer law

Question 4

Constitutional law

Answer 4

organisation of states

Question 5

Administrative law

Answer 5

relationship between states and legal
subjects; functioning of the market (e.g. certification, licenses…)

Question 6

Criminal Law

Answer 6

safeguard of our society & its values

Question 7

Consumer law

Answer 7

relationship between business & consumer

Question 8

Commercial law

Answer 8

relationship between 2 or more businesses

Question 9

Property law

Answer 9

ownership & possession (and security rights)

Question 10

Law of obligations & contract law

Answer 10

unilateral and/or multilateral
obligations between legal subjects

Question 11

Functional approach

Answer 11

its role for society

Question 12

Global approach is needed

Answer 12

farm to fork (whole supply-chain)

Question 13

Separation of power: A legislature

Answer 13

Making the laws of a country

Question 14

An executive

Answer 14

Governance of the state
Can also enforce the law

Question 15

A judiciary

Answer 15

Enforcement of rights
 Civil courts
 Commercial courts
 Administrative courts
 Constitutional courts
 Criminal courts

Question 16

Principle sources of commercial law

Answer 16

Contract
Express terms of the agreement
Implied terms
Principle of good faith

Uncodified custom and usage
Informal rules of evidence
Absence of protest: booking notes, bills…

Codified custom and usage
ICC Uniform Rules for Collections
ICC Rules for Multimodal Transport

Domestic legislation
Sale of Goods Act 1893
Code de commerce (FR)

Question 17

External sources of commercial law

Answer 17

International Conventions and model laws
CISG
Unidroit Model Franchise Disclosure Law

EU Law
Primary EU-law: 4 freedoms
To protect cross-border trade

Secondary EU-law: directives & regulations
Rome I & II
Brussels I Recast Regulation
GDPR

Commercial Agency Directive
PSD II
B2B Unfair Commercial Practices in the food supply-chain
P2B Regulation

Question 18

Soft law

Answer 18

Volutary codes of best / good practices / Codes of conduct
Corporate governance codes
CSR-practices

Transnational contract law
PICC
PECL & PEICL
DCFR

Question 19

Hierarchy of norms

Answer 19

• Supranational law > national law
• Law > ministerial/royal decrees
• Codified law > trade usages & practices

Question 20

Why is there a need for regulation?

Answer 20

Principle: open market economy with free competition and (formal) freedom of contract

• Need for rules to safeguard the functioning of the market
• Need for compensatory rules

1.Duties to inform (substantive freedom of contract)
2.Right of withdrawal (substantive freedom of
contract)
3.Substantive contractual justice

Question 21

Party autonomy & Anti-trust regulation

Answer 21

• Most efficient way to protect the market
• The right to self-govern his own legal position within the limits of the law

Question 22

Freedom of contract

Answer 22

• Freedom to enter into agreements (or not)
• To choose the contracting parties
• To determine the content of the agreement

Question 23

Socialization of (Contract) Law

Answer 23

Make (someone) behave in a way that is acceptable to society

Question 24

Basic restrictions to party autonomy

Answer 24

• Rules of Ordre Public
• Rules governing the validity of a contract
• Fundamental rights of others (e.g. property rights, etc)
• Principle of non-discrimination

Question 25

Market particiants

Answer 25

Start-up’s, SME’s & Consumers

Question 26

Sensu stricto

Answer 26

Rules applicable to B2C-transactions