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GMGT 3300- Final Exam Guide - Comprehensive Notes for the exam ( 104 pages long!)


Department
General Management
Course Code
GMGT 3300
Professor
Ian A.Restall
Study Guide
Final

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UofM
GMGT 3300
FINAL EXAM
STUDY GUIDE

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Commercial Law LAW2442
Week 1. Introducing the Law
1. Law and life 2. The nature of Law
Law is;
The set of rules made by the state, and enforceable by the prosecution of
litigation
Business law: is the set of rules regulating businesses and business activities
made by the state and enforceable by prosecution or litigation
Purposes of law
resolves disputes maintains social order preserves and enforces community
calues protects the disadvantaged stabilises the economy prevents misuse of
power
Categories of law
Reasons the law would change
political change need to fix problems with the law changing community values
pressure from lobby groups changing technology
3. Justice, ethics and power
Justice: can be understood as fairness such as fair compensation or
punishment, a fair decision or a fair distribution of resources *The relationship
between law and justice may not be necessary but it is desirable
There are three types of justice
Distributive justice Procedural justice Retributive justice
A legal choice is one that complies with the law; an ethical choice is one that is
recognised as ‘good’ or ‘right’ *Law and ethics often correspond but a decision
that is legal may not be ethical and a decision that is ethical may not be legal
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Whilst the law is more than merely politics, the law is shaped by power and
politics
Particular laws are usually the expression of a political ideology Legislation is
made by politicians to implement government polices and
achieve political objectives
4. The sources of law
The three arms of government
Separation of powers
Theoretically, the legislature, the executive and the judiciary should remain
functionally separate as far as possible In Australia, member of the
executive (Prime Minister/Premier/Chief Minister and other Ministers) are also
members of the legislature (Parliament) which means that the legislature and
the executive are not strictly separate.
Forms of government
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