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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BUSINESS LAW Oscar Kikoyo‚ Advocate Dip. Philosophy‚ LL.B (Hons)‚ MBA (IB) Executive Secretary‚ Surface & Marine Transport Consumer Council‚ NSSF Waterfront‚ P.O BOX 14154‚ Dar es salaam‚ www.sumatraccc.go.tz 4/9/2014 1 What is Business? • Business is a commercial activity engaged in as a means of livelihood or profit‚ or an entity which engages in such activities. 4/9/2014 2 What is Law? • Law is the body of rules designed to regulate human conduct within a given
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duty to govern in accordance of law; the role of the courts as guarantor of legality and individual right‚ the priceless gift‚ subject only to constraints by law established‚ of individual freedom.”(Lord Bingham of Cornhill‚ The case of Liversidge v Anderson: the Rule of Law Amid the Clash of Arms‚2009) From my view‚ Lord Bingham expressed the importance of rule of law through the comment he gave in the case Liversidge v Anderson(1942).As he claimed in the rule of law that the right of the individual
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Insurance Bhd v Nasir Ibrahim [1992] 2 MLJ 355‚ SC The Supreme Court in this case held that the essence of consideration is that the promisee has taken upon him some kind of burden or detriment. Curie v Misa (1875) LR 10 Exch 153. Consideration under common law has been defined to ‘consist in some right‚ interest‚ profit or benefit‚ accruing to one party or some forbearance‚ detriment‚ loss or responsibility given‚ suffered or undertaken by the other’ Dunlop Pneumatic Tyre Co Ltd v Selfridge and Co Ltd
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What started the martial law? It all started from bombing in Plaza Miranda. The 1971 Plaza Miranda bombing occurred during a political campaign rally of the Liberal Party at Plaza Miranda in the district of Quiapo‚ Manila on August 21‚ 1971. It caused nine deaths and injured 95 others. The injured Party’s campaign rally was held to proclaim the candidacies of eight Senatorial bets as well as the candidate for the Mayoralty race in Manila. As a crowd of about 4‚000 gathered to hear speeches. Two
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they carry on business by entering into contracts. The law relating to contracts is to be found in the Indian Contract Act‚ 1872.The law of contracts differs from other branches of law in a very important respect. It does not lay down so many precise rights and duties which the law will protect and enforce; it contains rather a number of limiting principles‚ subject to which the parties may create rights and duties for themselves and the law will uphold those rights and duties. Thus‚ we can say that
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accountability 8 1. Political accountability 8 2. Financial Accountability 8 3. Administrative Law accountability 9 4. Ethical responsibility and integrity 10 Red-Light‚ Green-Light 11 Red Light Approach 11 Green Light Approach 11 Amber Light approach 11 Foundations of Administrative Law 12 Accountability across the public/private divide 13 Legality: rules‚ discretion & policy 15 What is administrative law? 15 Legality 15 Categories of Government Legal Entity 15 Sources of Government Power
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Bank’s duty of confidentiality is an implied term of contract between customers and their banks and building societies that these firms will keep their customers’ information confidential. This confidentiality is not just confined to account transactions – it extends to all the information that the bank has about the customer. But from time to time‚ banks end up releasing information that they should have kept secret about their customers to a third party which sometimes ends up in major consequences
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Discuss the connection between natural law theory and fundamental human rights as articulated in Commonwealth Caribbean constitutions. (Dec. 2009 #2) Generally‚ natural law theorists have purported that law comes from a body of rules or precepts that are distinct from human created legal systems. These rules are heavily influenced by morality and it centrally claims that there are moral principles1 of universal applicability‚ and principles of political morality in which human communities ought
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Laws are created to maintain equality‚ stability‚ and structure. To maintain order in society‚ laws are established as is punishment for disobeying these laws. Laws are broken down by classification and to some degree‚ may interact with one another. Substantive law sets the ground rules for individuals whereas procedural law is the policy on how to carry out the rules. Criminal law is for the protection of society and civil law is to serve the purpose of compensating someone for a loss due to the
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