Summary: Foundation Of Business Law
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Legal System Terminology
This is a preview. There are 6 more flashcards available for chapter 02/02/2020
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What is the doctrine of binding precedent?
Important part of the common law system that states that judges should uphold decisions made by judges in similar previous cases -
What 3 elements are associated with the legal system?
1. The administration of justice via the court structure
2. The legal profession
3. The operation of a common law system -
What is the difference between superior and inferior courts in the UK?
Superior courts deal with higher value claims that are more complex, while inferior courts handle smaller cases -
What are the 2 types of courts in the US?
1. Federal - Power as far as granted by the constitution
2. State - More general competence and can hear both state and federal cases -
What is forum shopping?
When parties choose to go to court which they believe will favour their claim -
What are the 3 types of Alternative Dispute Resolution?
1. Conciliation (third party offers the parties a non-binding option)
2. Mediation (third party helps parties reach an agreement)
3. Arbitration (where a third party delivers a binding opinion) -
What are the differences between a Dutch notary and an English solicitor?
A notary does not prepare work for litigation, and is not allowed to act as an advocate in the lower courts -
What is a solicitor in England?
A general legal advisor -
What remedies does the equity court provide rather than common law?
Next to damages, they also provide injunctions and specific performance -
Lecture 1: Legal Systems
This is a preview. There are 42 more flashcards available for chapter 01/03/2020
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Why is the law not a closed system?
It reflects the time and norms and values of that time, and as these shift the law can shift accordingly
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