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Business Gina M. Villareal - Law 1 Module 1 Notes

12 Questions

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Business Gina M. Villareal - Law 1 Module 1 Notes

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Questions and Answers

What is the concept of obligation?

A cultural tradition followed by a community

A social tie that imposes the necessity of doing or abstaining from doing a specific act (correct)

An informal agreement between friends

A legal document that binds individuals to certain actions

Who defined law as the 'body of principles recognized and applied by the state in the administration of justice'?

Salmond (correct)

Gina M.

Woodrow Wilson

Villareal

What is the nature of law according to Woodrow Wilson?

A set of rules recognized by society

A rigid framework imposed by authorities

An evolving body of principles that adapt to societal needs (correct)

A static system unchanging over time

What must the prevailing law in a society conform to according to the text?

Customs, sentiments, and aspirations of its people Signup and view all the answers

What is the definition of an obligation?

A legal tie imposing specific acts on individuals Signup and view all the answers

How did the text distinguish between law and obligations?

Law is related to social matters while obligations are purely legal Signup and view all the answers

What is the definition of obligation as per the text?

A legal tie that imposes a necessity on a person to do or abstain from doing a specific act. Signup and view all the answers

According to Woodrow Wilson, what is law?

Uniform rules recognized by society. Signup and view all the answers

What does an obligation impose on a person or persons?

The necessity to do or abstain from doing a definite act or acts. Signup and view all the answers

What is the nature of law according to Salmond?

A body of principles recognized by society. Signup and view all the answers

When must the prevailing law in a society be in conformity with according to the text?

The general sentiments, customs, and aspirations of its people. Signup and view all the answers

What distinguishes an obligation from a contract according to the text?

An obligation is always legally binding, while a contract may not be. Signup and view all the answers

Study Notes

Law Definition

Law is the body of principles recognized and applied by the state in the administration of justice, as defined by Salmond.
Woodrow Wilson defined law as the portion of established habit and thought of mankind that has gained distinct and formal recognition in the shape of uniform rules backed by the authority and power of the government.
Law is not static, it changes to fit the requirements of the society.
Law prevailing in a society must be in conformity with the general sentiments, customs, and aspirations of its people.

Obligation

An obligation is a legal tie that imposes upon a definite person or persons the necessity of doing or abstaining from doing a definite act or acts.
It may relate to social or legal matters.
An agreement that gives rise to social obligation is not a contract.

Objectives

Explain and understand the concept of obligation.
Identify the requisites, sources, nature, and effects of obligations.
Enumerate the different kinds of obligations.
Describe the extinguishment of obligations.

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Description

Learn about obligations in business including concepts, requisites, sources, nature, effects, kinds, and extinguishment of obligations. Explore the definition of law according to Salmond's perspective.