Business Law Assignment

Business Law Assignment Words: 1100

The nature and function of the law Administrative matters The first part of the seminar covers an explanation of how to successfully study in this course. In particular you need to understand: The tuition pattern of the course; that it operates as a package: three hour seminar (lecture and case study), prescribed readings, E-tutorial and revision notes. How to download and install the First Principles of Business Law E-tutorial software.

There is an early piece of assessment in this course so you need to get “on-board” quickly. TO DO: you need to. Read the unit outline and familiarize yourself with the resources available on FLEES-Blackboard; Read chapter 1 of First Principles of Business Law text book; Attend the seminar and/or listen to the ‘Lecture or vodkas recording; Do the E-tutorial ‘Government and law in Australia’; and Review the revision notes at the end of the week in preparation for the revision quiz in next weeks seminar.

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Learning outcomes After completing this topic, you should be able to: 0 Understand the nature and function of the law and introduce the concept of ‘business law’ 0 provide an initial function of law 0 explain the difference between various branches of the law. 0 explain key legal terms and concepts 1 of 1 0 2013 ACH Australia Limited and Curtain Business School Updated semester 2, 2013 Lecture outline 1 . Law in an everyday context Many aspects of daily life are governed or affected by the law. Consider and explain each of the terms listed below. Each term refers to a generally recognized ‘division’, ‘area’ or ‘category of law. Criminal law 0 Tort law 0 Contract law 0 Property law 0 Administrative law 0 Constitutional law 0 International awe 0 Corporations law Dividing legal rules into areas helps to clarify the nature and structure of the law. Each different type (or area) of law is concerned with particular types of conduct or situation. Different types of law are often reflected in newspaper headlines. For example “Arsonist Jailed for ten years” reflects the operation of criminal law. 2. What is ‘Business Laws Business law consists of selected rules of law that are of particular relevance to business activities.

For example, business law includes aspects of contract, tort law, criminal law, plus selected topics from other rotational divisions of law. Knowledge of business law is important because it enables a person to: 0 recognize the legal aspect of typical business situations and understand the legal rules involved 0 know the extent to which they can rely on legal rights and duties 0 know how to use the law constructively to achieve desired Business Law By Keller created; o property rights can be acquired and protected; o business organizations can be created; and o financial systems can be used. . Legal and non-legal rules Law consists of rules of conduct or organization that are consider, applied and enforced by the power of the state. Non-legal rules are rules of conduct or organization that are enforced by things such as peer pressure, a need for co-operation, feelings of goodwill, or convenience. 2 of 2 Non-legal rules are derived from: 0 moral or philosophical beliefs; 0 religious beliefs; 0 social values; and 0 rules that have become customary in a community.

Non-legal rules work well enough in smaller groups or communities but in larger groups they become inadequate. Law tends to emerge in all larger societies as a necessary means of regulating conduct. 4. Some important terms and phrases Legal ‘principles’ are statements of the broad fundamental viewpoints that set the policy and philosophical direction of an area of law. ‘Legal rules’ are the more detailed mechanisms by which the principles are given effect. ‘Legal system’ means all the legal principles and rules that exist in a particular country. Legal system’ also means all the additional things that contribute to the operation of law in society, that is: 0 mechanisms for creating and changing the law; 0 mechanisms for administering and enforcing the law; and 0 mechanisms for preserving and perpetuating the law. . Law and Justice In basic terms, legal rules are applied to specified facts in order to decide the outcome. In other words, the proper outcome or result of a case is deduced by applying the relevant rules of law to the proved facts. For example: Facts: Peter has been found guilty of serious theft.

Rule: Anyone found guilty of serious theft must go to prison. Decision: Deciding questions in this way can be described as a strictly “legal” approach. The correct decision is normally presumed to result from the logical process. Generally, as well as being logical, legal decisions ought to be ‘Just’. Justice can be thought of as involving at least two elements: 0 everybody should be treated in the same way unless there are significant differences in the circumstances; and 0 outcomes should not be unduly harsh. 3 of 3 Sometimes, the strictly logical application of rules needs to be adjusted to achieve a just outcome.

In other cases, Justice may require recognizing additional facts as significant. For example: Facts: William has been found guilty of serious theft. Rule: years old. Decision: Revised Rule: The strictly logical application of existing rules promotes certainty and predictability. The fair and Just auteur of decisions promotes respect and support for the law. These considerations must be balanced. Case study Law as a mechanism of organization and regulation Legal and non-legal issues In any given situation it is likely that there will be a variety of important issues.

For example, in a sale transaction, there are often economic and practical issues as well as legal issues to take into account. It is important to be able to analyses a situation, identify the legal issues and separate them from other issues. For example, in deciding whether to buy an item in a local shop or in an on-line auction, there may e financial issues (the cheapest price); practical issues (how to pay, delay in getting delivery); and legal issues (non-delivery, faulty goods, etc). Case study: The coffee shop Stella decides to open a coffee shop in Melbourne.

Rather than operate as a sole trader, she registers a company as the owner of the business. Acting on behalf of the company, Stella leases business premises, employs waiters, gets a loan from the bank and purchases equipment and supplies. She gets permission from the local council to put chairs, tables and umbrellas on the pavement outside the coffee shop. When she opens for business the following things happen: 0 Stella does not properly secure one of the umbrellas and a customer is injured when it blows over in a gust of wind.

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