Business Law Legt1710
Business Law–LEGT1710
The Role of Law In Business
The Law is a systematic set of rules to control conduct within a society, created by parliament and is enforced by courts.
Sources of Law
Law is made up of two parts: 1. Enacted (Statute) Law: law that is made by parliament. It can be changed by parliament but is interpreted by judges. In the case of a conflict between statue and common law, statue law prevails under the Doctrine of Parliamentary Supremacy as it has the ultimate law making power. The parliament can authorize other bodies to make laws called delegated legislation. Delegated legislation is often made without public or parliament debate. To safeguard delegated legislation, it can be reviewed by courts and is still controlled by the parliament 2. Unenacted (Case) Law: judgments passed by judges in previous cases, can be overridden by parliament but developed by future cases
Together, these are known as Common Law. Australia adopted the Common Law system of England.
Equity
Equity is a body of legal principles or rules developed by the Courts of Chancery (Courts of Equity) in England in response to the growing inflexibility of common law. England has two parallel court systems * Courts that could only award money damages * Courts of Equity that could issue broader range of remedies
Courts of Equity seek to make defendants to fix their actions and is not applicable to criminal law. There are two types of equitable remedies that can be sought * Injunction: A court order directing a person to stop doing something * Specific Performance: A court order directing a person to carry out an obligation
When entering the court, parties must enter with clean hand,
Classification of Australian Law
Australian law can be classified as: * International/domestic: International law involves conduct between states based on customary rules, treaties and conventions. Domestic law comes from state or common law and regulate people
The Role of Law In Business
The Law is a systematic set of rules to control conduct within a society, created by parliament and is enforced by courts.
Sources of Law
Law is made up of two parts: 1. Enacted (Statute) Law: law that is made by parliament. It can be changed by parliament but is interpreted by judges. In the case of a conflict between statue and common law, statue law prevails under the Doctrine of Parliamentary Supremacy as it has the ultimate law making power. The parliament can authorize other bodies to make laws called delegated legislation. Delegated legislation is often made without public or parliament debate. To safeguard delegated legislation, it can be reviewed by courts and is still controlled by the parliament 2. Unenacted (Case) Law: judgments passed by judges in previous cases, can be overridden by parliament but developed by future cases
Together, these are known as Common Law. Australia adopted the Common Law system of England.
Equity
Equity is a body of legal principles or rules developed by the Courts of Chancery (Courts of Equity) in England in response to the growing inflexibility of common law. England has two parallel court systems * Courts that could only award money damages * Courts of Equity that could issue broader range of remedies
Courts of Equity seek to make defendants to fix their actions and is not applicable to criminal law. There are two types of equitable remedies that can be sought * Injunction: A court order directing a person to stop doing something * Specific Performance: A court order directing a person to carry out an obligation
When entering the court, parties must enter with clean hand,
Classification of Australian Law
Australian law can be classified as: * International/domestic: International law involves conduct between states based on customary rules, treaties and conventions. Domestic law comes from state or common law and regulate people