LAW 122 Lecture Notes - Lecture 1: Ultra Vires
17 Nov 2017
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Why study law: business decisions have legal consequences, which affect pro ts and losses; Positive: ex: binding contractual party to promise: law sets the framework for risk; it gives. A set of thinking and rules that courts will enforce. A way of thinking or reasoning about these principles and rules. It is not just the result of a case (who won?) that matters. Important to ask why and how not just who won . Rule to gure out how to win a case and apply them. Formally sanctioned informally sanctioned: moral but illegal. Ex: france and most of europe, louisiana and quebec. Ex: england, australia, new zealand, most of canada. Hierarchy of sources of law: constitution, legislation: laws created by parliament or legislation, courts: -interpret and apply constitution. Provides basic rules for society, including our legal and political systems: highest source of law. Any law inconsistent with constitution: no force or effect (pg.
