Introduction to Business Law and Legal Systems
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Questions and Answers

In which legal system is the law systematically codified into codes?

  • Common Law System
  • Judge-made Law System
  • Continental Law System
  • Civil Law System (correct)

    • What is the main objective of Criminal law?

  • To codify laws into codes
  • To punish the offender (correct)
  • To compensate the innocent or injured
  • To establish authoritative decisions

    • Which legal system is organised in continental Europe and adopted in most parts of the world?

  • Civil Law System (correct)
  • Continental Law System
  • Common Law System
  • Judge-made Law System

    • What is the role of past case decisions by superior courts in common law?

    <p>They are binding and authoritative for future cases decided by lower courts in the same hierarchy of courts</p> Signup and view all the answers

    What is the consequence in civil law if someone is injured by a reckless car driver who flouts traffic rules?

    <p>The driver is sued by the injured person</p> Signup and view all the answers

    Which legal system involves a system of law concerned with the punishment of those who commit crimes that are harmful to society?

    <p>Common Law System</p> Signup and view all the answers

    What is the term used for a person who brings a case against another in a court of law?

    <p>Plaintiff</p> Signup and view all the answers

    What is the classification of laws within the Civil Law System?

    <p>Systematically codified into codes (pure statute)</p> Signup and view all the answers

    What is the primary function of law in business?

    <p>To regulate commercial transactions between business persons</p> Signup and view all the answers

    Which legal system does Singapore use?

    <p>Common Law System</p> Signup and view all the answers

    What is one of the major characteristics of the Common Law System?

    <p>Law is created by judgment handed down by courts</p> Signup and view all the answers

    What is the source of case law in the Common Law System?

    <p>Judicial precedents</p> Signup and view all the answers

    What important doctrine is associated with the Common Law System?

    <p>Doctrine of binding precedent</p> Signup and view all the answers

    What do the rules of law in the Common Law System form?

    <p>Rules of common law</p> Signup and view all the answers

    What is the primary role of the principle of binding precedent or stare decisis in the Common Law System?

    <p>To ensure consistency and predictability in the application of law</p> Signup and view all the answers

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