Today is my 1st class for paper F4 Corporate and Business Law by lecturer: Terence Tan. Law is a set of rules to control conduct and control the rights & duties. Jurisdiction is geographical area of court's power and power of count to decide case. Common law -William the conquerer conqured whole Englands to all regions. Common law-too rigid and inflexible eg wrong forms to start court action-loss of lawsuit and rights. People went to see king or ministers and they decided based on they felt was fair- became system of rules called equity (based on justice and fairness). Precendent: previous case. Courts normal follow previous case. Stare decisis- let decision stand. Advantages for stare decisis:(1) consistency (2) fairness (3) predictable. Disadvantages for stare decisis; difficult to decide if similar to previous cases. "Dog law"- inpast, difficult to know what rules where. Ratio decidenci -reason rational for deciding -legal principle to decide case. Type od stare decisis (A) vertical-higher courts bind lower courts. (B) Horizontical-courts following case by same level courts. Type of law- different classification crimical law -main aim is punishment (fine, jail, and dealth penalty). Civil law -main is aim is compensation (covering you losess). Case law: common law-law develops through cases. Statue law- law made by parliment Often statue law is more efficient & clear than the case law.
I would like to stop here that finish my sharing. I hope my this 2 papers can pass on Jun 2011.
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