LW1230 Chapter Notes - Chapter 1: Private Law, Royal Assent, Perjury
Document Summary
Chapter 1: the law and the legal system. Laws govern the formation of business organizations, the products they may manufacture or sell, the conditions under which the employees work, the relationships between customers and competitors and between owners themselves. Tort law - concerned with injury to others. Resulting from negligent production of goods, careless professional service, unsafe operating premises, etc. Purchase and sale of goods, employment, assignment/reduction of risk. Land law - covers the purchase or leasing of premises or the financing of the purchase of land and building, sets out the rules for these business activities. Securing of debt in credit transactions, bankruptcy law, international trade, environmental law, protection of intellectual and industrial property. Basically what is right and what is wrong. Something will happen if an individual does not obey the rules or respect the rights of others. Law sets our rights and duties so that everyone will know what they are and to whom they apply.
