Chapter 1 Risk Management and Sources of Law Risk Management Risk Management – is the process of identifying‚ evaluating and responding to the possibility of harmful events. Risk Avoidance – A risks that should be avoided altogether. (Ex. Ford Pinto and exploding on impact) Risk Reduction – Risk that can be reduced to an acceptable level through precautions. (Ex. Banks loans and collateral) Risk Shifting – Risk that can be put on a different party. (Ex. hiring an independent contractor) Risk
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LAW OF CONTRACT NOTES INTRODUCTION. A contract is an agreement between two parties which is enforceable by law.An agreement is made when a person signifies his willingness to do or to abstain from doing anything with a view of obtaining the assent of the other party. Such act or abstinence is said to make a proposal.The person making the proposal is called the offeror and the person accepting the proposal is called the offeree TYPES OF CONTRACTS: Contracts may be classified into: -Written
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thefreedictionary.com. The duties are a series of common law‚ statutory‚ and equitable obligations. The duties are analogous to duties owed by trustees to beneficiaries‚ and by agents to principals. Directors owe duties to the corporation‚ and not to individual shareholders‚ employees or creditors outside exceptional circumstances. The duties of a director are divided in two sections‚ the common law duties and the statutory duties of directorship. Common law duties; Duty of Good Faith The most general
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22 PAPER-4 (LL1008) LAW OF TORT AND CONSUMER PROTECTION LAWS nd st (2 Semester‚ 1 Year of the 3-Year LLB course) PART A- Law of torts PART B – Consumer Protection Law PART –A General Principles 1. General Principles – Definition‚ distinction between tort‚ crime‚ contract‚ breach of trust. 2. Essential conditions of liability – Damnum Since injuria‚ Injuria sine damnum‚ Malice‚ Motive. 3. Foundations of tortuous liability‚ fault liability‚ strict liability‚ principles of insurance in torts. 4
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------------------------------------------------- Foss v Harbottle Foss v Harbottle (1843) 67 ER 189 is a leading English precedent in corporate law. In any action in which a wrong is alleged to have been done to a company‚ the proper claimant is the company itself. This is known as "the rule in Foss v Harbottle"‚ and the several important exceptions that have been developed are often described as "exceptions to the rule in Foss v Harbottle". Amongst these is the ’derivative action’‚ which allows
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category of contract used in labour law to attribute right and responsibilities between parties to a bargain. On the one end stands an "employee" who is "employed" by an "employer". It has arisen out of the old master-servant law‚ used before the 20th century. Put generally‚ the contract of employment denotes a relationship of economic dependence and social subordination. In the words of the influential labour lawyer Sir Otto Kahn-Freund‚ "The relation between an employer and an isolated employee
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CONSTITUTIONAL LAW ASSIGNMENT 1 (1)WHAT ARE THE CHARACTERISTICS OF THE BRITISH CONSTITUTION AND WHAT IS MEANT WHEN IT’S DESCRIBE AS UNWRITTEN? (20) (a) -IT IS SUPREME -IT IS FLEXIBLE -IT IS UNITORY -SOVEREIGNTY -IT IS UNCODIFIED CONSTITUTION (B)THE BRITISH CONSTITUTION IS UNWRITTEN OR TO BE MORE PRECISE ‘UNCODIFIED’.THAT MEANS THAT UNLIKE IN MOST MORDERN DEMOCRIES‚THERE IS NO SINGLE DOCUMENTS THAT EXPLAINS HOW THEY ARE GOVERNED. IT IS A SET OF LAWS PREPARED OVER A PERIOD
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England and Wales has a body which includes legislations‚ common law and other legal norms that are established by parliament‚ the crown and judiciary. The courts are organised in a hierarchal structure and England has no written constitutions like the US therefore giving parliament power of ’law-makers ’ especially after they made themselves a supreme body who represent the people of the country‚ they have unquestionable power (unlike the other law-makers) to add‚ remove and change legislations without
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convicted. Before you go any further please listen to audio presentation 2 which you can access from the criminal law page of the VLE. It is important that you do so as it will give you an overview of the topic and guidance on the terms considered in this chapter (i.e. actus reus and mens rea). You will now be aware that every offence is defined somewhere – either in a statute or at common law – and will be composed of a number of elements with which you should be familiar. Note that you should be equally
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Maritime law Module 1 – Introduction to maritime law 1 1. What is the field of law described as ‘maritime law’? The subject of maritime law attempts to give you a clear understanding of the legal principles applicable to commercial shipping operations. These are the legal principles that determine the obligations and regulate the relationships of the parties in the maritime transport chain
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