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Questions and Answers
What is the main distinction between Absolute Rights and Relative Rights?
What is the main distinction between Absolute Rights and Relative Rights?
- Absolute Rights are restricted and limited, while Relative Rights are not.
- Absolute Rights must be respected by everyone, while Relative Rights are dependent on a person's relationship with others. (correct)
- Absolute Rights are only related to property, while Relative Rights are related to various personal relationships.
- Absolute Rights are acquired over time, while Relative Rights are immediately enforceable.
Which of the following is NOT considered an example of Immovable Property under the law?
Which of the following is NOT considered an example of Immovable Property under the law?
- Debts (correct)
- Negotiable Instruments
- Land
- Tangible Movables
What is the main purpose of prescribing certain time periods or terms within the law?
What is the main purpose of prescribing certain time periods or terms within the law?
- To ensure actions are brought or things are done within a specified timeframe.
- Both a and b (correct)
- To acquire certain rights after a certain period of time has passed.
- To restrict the application of the law to only certain time periods.
Which of the following is NOT considered an example of Intangible Property under the law?
Which of the following is NOT considered an example of Intangible Property under the law?
Under which legal system are associations and charitable societies categorized?
Under which legal system are associations and charitable societies categorized?
What is the main purpose of Absolute Rights under the law?
What is the main purpose of Absolute Rights under the law?
What is the purpose of creating laws in the business environment?
What is the purpose of creating laws in the business environment?
How does the rule of law impact businesses?
How does the rule of law impact businesses?
What aspect of business operations do laws primarily regulate?
What aspect of business operations do laws primarily regulate?
How do laws contribute to creating an honest business environment?
How do laws contribute to creating an honest business environment?
In what way do laws protect those who work for a business?
In what way do laws protect those who work for a business?
What do laws provide in terms of dealing with violations in a business setting?
What do laws provide in terms of dealing with violations in a business setting?
What does the term 'Law' refer to according to the text?
What does the term 'Law' refer to according to the text?
In what sense does the term 'Law' include Rules of court, Decrees, Judgment, and Orders of courts?
In what sense does the term 'Law' include Rules of court, Decrees, Judgment, and Orders of courts?
What is the nature of law as described in the text?
What is the nature of law as described in the text?
Which term is NOT included in the various meanings of 'Law' provided in the text?
Which term is NOT included in the various meanings of 'Law' provided in the text?
What defines the legal order represented by the term 'Law'?
What defines the legal order represented by the term 'Law'?
Which term captures the concept of 'Law' from the perspective of judges?
Which term captures the concept of 'Law' from the perspective of judges?
Which statement best describes the role of courts in a civil law system?
Which statement best describes the role of courts in a civil law system?
What is the primary source of law in the civil law system mentioned in the text?
What is the primary source of law in the civil law system mentioned in the text?
How can courts fill gaps in the law when there is no existing provision on a particular issue?
How can courts fill gaps in the law when there is no existing provision on a particular issue?
How do regulations differ from statutes in terms of their scope and execution?
How do regulations differ from statutes in terms of their scope and execution?
What is the role of the parliament in relation to regulations, according to the text?
What is the role of the parliament in relation to regulations, according to the text?
How does the role of courts differ between the civil law system and the common law system?
How does the role of courts differ between the civil law system and the common law system?
What is the main advantage of flexibility in legal rules?
What is the main advantage of flexibility in legal rules?
What is meant by the generality of legal rules?
What is meant by the generality of legal rules?
Which of the following best describes the concept of abstraction in legal context?
Which of the following best describes the concept of abstraction in legal context?
What distinguishes natural persons from legal persons in the legal context?
What distinguishes natural persons from legal persons in the legal context?
Which of the following statements about legal persons is true?
Which of the following statements about legal persons is true?
What is the legal status accorded to legal persons?
What is the legal status accorded to legal persons?
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Study Notes
Legal Concepts
- Law can be classified under Public Law (State, National Insurance, Broadcasting Corporations) and Private Law (associations, charitable societies, public limited companies, private limited companies, co-operatives)
- Legal Objects: include immovable property (land), tangible movables (choses in possession or chattels), intangible property, and intangible objects (choses in action)
Time in Law
- Time is an important factor in law, with specific periods or terms within which an action must be brought or something must be done
- Failure to comply may result in being barred or prescribed
- The law may prescribe that a right is acquired if a certain period of time has passed
Absolute Rights
- Absolute Rights are positions that must be respected by everybody and are not restricted or limited
- Examples include property, copyright, and rights in patents, trademarks, and designs
Relative Rights
- Relative Rights are those to which a person is entitled in consequence of their relation with others
- Examples include the rights of a husband in relation to his wife, a father in relation to his children, a master in relation to his servant, and a guardian in relation to his ward
Role of Law in Business
- Laws help prevent chaos in the business environment and set guidelines for employment, regulatory compliance, and inter-office regulations
- The rule of law plays an important role in the business world, determining the way a business is established and operated
- Laws protect business owners' and employees' interests, and provide guidelines for punishment if laws are violated
Meaning of Law
- The term "Law" is derived from the Old English "lagu", meaning ordinance, rule, or regulation
- Law denotes different kinds of rules and principles that regulate human conduct and behavior
- Law includes Acts, Statutes, Rules, Regulations, Orders, Ordinances, Justice, Morality, Reason, and Righteousness
Sources of Law
- Regulations are promulgated by the administrative power and are executed on a central or local scale
- Courts' decisions under the Civil law system settle legal disputes between individuals, between an individual and the state, or between two state bodies
- The practice of courts may clarify the meaning of a statutory provision and in effect amend the initial norm
Important Concepts
- Legal Subjects: Natural Persons (all human beings) and Legal Persons (companies and corporations)
- Legal persons are accorded legal rights and have been imposed with legal duties, and are subject to "Human Rights"
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