The regulatory environment - Introduction - Legal System

5 important questions on The regulatory environment - Introduction - Legal System

What is the meaning of the Trias Politica?

  • The legislative power create legal rules
  • The executive power administers the country
  • The judiciary applies the rules created by the legislative in courts.

The Trias Politca is the philosophy that there has to be a strict seperation between three independent powers in every nation which is legislation, Judiciary & Executive. True or False.

True

Why is the implementation of the rule of law important for business in general?

Implementation of the rule of law results companies in a fair business environment where all companies are subjected to the same rules and in case of disputes the judiciary will rule fairly.
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What are the four universal principles that the rule of law is generally considered to encompass?

The four universal principles that the rule of law generally encompasses are: Accountability under the law
Just and fair laws
Open and transparent legal processes
Independent judiciary to ensure the enforcement of the rule of law.

The rule of law principles are essential for promoting .....

fairness, justice, and the protection of individual rights within a legal system

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