Business Law Notes- July, 10, 2008
Review from previous class session July 3, 2008
? The Rules of Law regulate relations
? Public Law: Relations between state and individuals
• Exercise of power for state authority
• Based on the Roman-German Tradition
• Associated with the meaning of ‘Res Publica,’ (which means State & Society collectively)
• Great Importance placed on Public Law-according to the European Continental Tradition
? Anglo-Saxon Law: Based on Common Law
• Case Law (law arrived through court decisions :Is the American term for Anglo-Saxon Common Law
• The American Law is a continuity of English Law
? European Continental law: Based on the Legal Theory and Legal Codes
? Statutes: Come from parliaments of the state
? Acts: Come from Congress
? Ordinances: Come from Municipal/Local Government
Notes from New Material
Ethical Issues and the World of Business
? Relationship between Ethics and Law-
• What is ethical is not always included in the law
• What is permitted by the law is not always ethical...