Iba Book Summary Business Law

Table of Contents

Lecture 1

Chapter  1 – legal system                                                                page  2

Lecture 2

Chapter 3 – European Union Law                                                        page  8

Lecture 3

Chapter 4– Tort terminology                                                                page  16

Lecture 4,5,6

Chapter 5 – contract law terminology in context                                        page  23

Lecture 7,9

Chapter 6 – company law terminology in context                                        page  28

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Chapter 1 - Legal  system

Introduction

The student needs to be able to distinguish between the binding precedent and obiter dicta. One needs to identify these parts in a case report for a complete understanding of the case.

English Legal System (Common Law)

Introduction

• Common law system
• Developed through case law
• Authoritative decisions were laid down by the judges in court
• Was implemented in the colonial regime

• Still exists in countries like: USA, Canada, and Australia

• Even though all the common law countries derive their law system from the English law, they have adjusted certain terminology.

Doctrine of binding precedent

• Decisions made by judges in the past should be upheld by judges in new cases if there are similarities between the cases.
• Known as stare decisis in Latin.
• Binding precedent ensures flexibility while giving legal certainty.

Civil Law System

Introduction

• Coded systems- the laws are laid down in written form.
• Influenced by Roman law and the Napoleon Code (drafted in 1804) is also a source of the Civil Law system.

Court Structure

• Usually, highest court is the Supreme Court.
• Appellate court → Court of Appeal
• Trial Initialization level→ District Court
• The court systems vary from land to land

England- Court Structure

• Some courts specialize in criminal and civil cases, however, most cases hear both.
• Divided into inferior and superior courts.
• Jurisdiction of the superior courts is not limited to a specific geographic area or the value of the claim.
• Superior courts: Supreme Court, Court of Appeal, High Court, and the Crown Court (and the Restrictive Practices Court and the Employment Appeal Tribunal)
• Important Inferior Courts: Coroner’s Court and the Employment Tribunal
• UK is a member of the European Union. All matters concerning the law of the EU are dealt at the European Court of Justice. Its role is to ensure the legal enforcement of the EU obligations and uniform interpretation of the European law throughout the Member States.
• The distinction between inferior and superior courts is important regarding the doctrine of binding precedent.
• Doctrine of binding precedent: The precedent laid down in a previous case of similar nature must be followed.
• Court of Appeal, High Court, and the Crown Court are collectively known as the Senior Courts of England and Wales.

Courts-UK

• Supreme Court

• Highest level of Court since 2009.
• Hears appeals on points of law of general public importance
• Replaced the House of Lords

• Court Of Appeal

• Bound by the decisions of the Supreme Court
• Bound by their own previous decisions in criminal and civil cases unless certain exceptions apply

• High Court

• Bound by Supreme Court and Court Of Appeal, but not by itself
• 3 divisions (each division has its own divisional court):

• Queen’s Bench
• Chancery
• Family

• Crown Court

• Part of Senior Courts of England and Wales.
• Major criminal court
• Hears appeals from the Magistrates’ Court.

• County Court

• Jurisdiction of these has increased in recent years
• Decisions are sometimes reported

• Magistrates Court

• Decisions are not binding to any court.

United States – Court Structure

Federal Courts may be seen as the creation of the US Constitution. Its jurisdiction is set out in the US constitution and its powers are stated in the constitution. State Courts on the other hand have a more general competence. They heard most legal controversies within the geographical area of their jurisdiction. They may be concurrent jurisdiction between federal and state courts. For example, if a stolen car is taken to a different state, it is a state and a federal matter. Forum Shopping is when parties can select the court they believe to be most favorable to their claim. Each State has its own court system, therefore each system is unique. State courts deal with the vast majority of all court cases in USA.