By Shawn Kopel
This article is middle fabric for and gives a transparent, functional and modern advent to the elemental ideas of industrial legislations. it's been up-to-date and revised and provides a wide and leading edge spectrum of content material which addresses each point of commercial legislation. The 5th version is designed to be clearer and extra obtainable than ever, and extra examples and case illustrations are supplied to augment figuring out and useful program. The textual content now bargains a number of new chapters and an extended instructing ancillary package deal.
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Additional info for A guide to business law
1 Law and natural, social, and moral codes Law Natural, social, and moral codes Where does it come from? Made by a formal process and enforced by the State. Naturally inherent in people and originate from the community. Accepted by the public on an informal basis. Compulsory or voluntary Must be obeyed by all. Individuals are free to accept or reject. Purpose To facilitate order and justice. To uplift all humankind and to advance civilization. Formalities Controls human conduct by formal rules and procedures, and processes such as courts.
The law must meet five requirements for it to be considered just. These requirements are called ‘the postulates of justice’: Reasonableness: Legal rules must be reasonable to achieve justice. Random, senseless, or silly rules bring the legal system into disrepute. Generality: Legal rules must apply equally and consistently to all legal subjects. Equality: Legal rules must apply equally in similar circumstances. However, this does not mean absolute equality for everyone. For example, it would not be rational to treat adults in the same way as minors, or the insane in the same way as sane people.
E. e. delict). g. g. land). Personal rights may be contractually transferred from one person to another by means of an agreement called ‘cession’. The State, as enforcer of the law, provides a remedy if the rights of a legal subject have been infringed. A ‘duty’ is a requirement to do something or not to do something. We can therefore say that a duty is an ‘obligation’. 3The concept of legal personality ‘Legal personality’ refers to entities which may hold rights and duties in terms of the law.