ODISEE Principles of Law (2024) PDF

What is The Law? Principles of Law Professor Stephanie Gardner, JD WEEK 1 Professor Stephanie Gardner, JD  University of North Carolina, Chapel Hill; Creighton University School of Law  Commodity Futures Trading Commission, Washington, D.C. - Office of the General Co...

What is The Law? Principles of Law Professor Stephanie Gardner, JD WEEK 1 Professor Stephanie Gardner, JD  University of North Carolina, Chapel Hill; Creighton University School of Law  Commodity Futures Trading Commission, Washington, D.C. - Office of the General Counsel  JP Morgan, Brussels/Euroclear, Brussels Legal Advisor to Risk Management, Banking and Credit; Assistant Resident Counsel to Legal Division; Compliance Officer  Professor of Law (2003 - present): Izmir, Casablanca, Hanoi, Ho Chi Minh, Novi Sad, Paris, Lille, Lyon …  What is The Law? Today’s Agenda  Objectives & Overview  Course Assessment  Rules of the Classroom  Legal Definition: The Law  The Law’s evolving nature  Your Role within Business  International Business Law  Common Law vs Civil Law  Your Turn  Course Objectives & Overview  Textbook: Business Law, Ewan MacIntyre (9th edition)  Always check Toledo for updates and additional course materials  Course meets on Wednesday and Friday: Group 1: Wed 1:30-3:30; Fri 10:30- 12:30 Group 2: Wed 3:30-5:30; Fri 1:30-3:30  Assessment Guidelines  Assessment: Midterm test (30%) + Final Exam (70%)  BYOD: multiple choice (no guess correction), fill in the blank, short answer  Closed book: no study aids of any kind are permitted! Midterm test Monday 30% “BYOD” November 4 Final Exam TBA (see 70% “BYOD” Toledo) TOTAL 100%  Course Welcome Rules of the Classroom  Rules of the Classroom  #1 Be on time!  Whether class meets in the physical classroom or online in Teams, students are expected to be on time for class. If you anticipate that you will be late, please inform Professor Gardner in advance by email.  Remember, time is money!  Rules of the Classroom  #2 Show professional courtesy  Don’t interrupt others during class discussions.  When class meets online, students are encouraged to raise their hands or use the chat function. Always keep chats professional and on topic.  Rules of the Classroom  #3 Be prepared for class  Be ready to participate and share your thoughts and ideas related to the course materials.  When class meets online, students should be able to unmute their microphones when called on. Students are encouraged to turn on their cameras when speaking.  Except as otherwise instructed, have your textbook ready to use as a reference during class sessions.  Rules of the Classroom  #4 There are no stupid questions  Feel free to ask questions during class discussions or email your questions to Professor Gardner before the start of class.  Email: [email protected]  Rules of the Classroom #5 This classroom is a Safe Space: - If you’re having a bad day and prefer not to be called on, please inform Prof Gardner before the start of class and she will not call on you (come up to her desk before class or email when class meets online). - If something is bothering you or you feel that Prof Gardner should be informed, don’t hesitate to reach out & let her know.  Rules of the Classroom And finally, a bit of advice:  Course Objectives  Not to turn you into Lawyers!  Become Better Business Persons  Develop a ”Legal Edge”  Gain a stronger understanding of legal principles that govern international business  Course Objectives  ”Legal Edge” in Business Environment  Sensitized to Legal Issues  Aware of Legal Perspective  Understand how to use the law to creat value & competitive advantage  Informed about possible Legal Conflicts  Understand how to avoid Legal Problems (and know when to seek help when you can’t)  Improve Working Relationship with your Lawyer KNOW HOW TO ASK THE RIGHT QUESTIONS  International Business Law What is The Law?  What is The Law? Legal Definition: ………………………………  What is The Law? Result = “Stability and Predictability” Why? The Law regulates conduct in society a. Personal Level  Citizens need to be able to determine “right from wrong” b. Business Level  Degree of “Legal Certainty” in business dealings  What is The Law?  It’s No Exaggeration: Fortunes are made and lost on legal questions such as: - Can I rely on my counterparty? - What if this deal turns sour? - Will we end up in court? - Will the Law stand behind us?  What is The Law?  Simple Question: From an international business point of view, what is legally right and wrong?  What is The Law?  Simple Answer: It depends!  What is The Law? Simple Answer? How stable is the legal environment where you intend to do business?  Look to the particular country where you are sitting at particular moment in history  The Law has dealt with business issues in very different ways at different times and places in history  What is The Law?  The Law is constantly evolving:  Nomadic tribes  Code of Hammurabi (Ancient Babylonian)  Greek concepts of Democracy  Roman Code (533)  Early Common Law courts (1066)  Napoleanic Code (1804)  Today’s modern laws/court decisions  What is The Law?  Reflects values and beliefs of society or its ruling group  Close relationship between morality and any rule that society will enforce  Influences on The Law  This is especially important in the international business context  What is the current Legal Environment?  Society’s current attitudes?  Can the Law be “behind the times”?  Noteworthy trends? Your Role in Business: Key Questions for International Business Persons  How will the local, legal environment affect my business decision making?  Degree of predictability?  Business implications?  Many different laws can affect a single business decision  Case Study THE FACTS: Congratulations, you and your partner, Billie, are the President & CFO of Acme Garment Manufacturing Company, a Belgian company that intends to expand its operations overseas. The factory will produce women’s leisure wear clothing, primarily for the US market. You will need to employ 500 local workers once operations begin. It has not yet been decided where to build the factory, but you already have 2 preferred countries in mind. You & Billie must present these 2 options to the Board of Directors for final approval. YOUR TASK: Based on these facts, choose 2 countries where you think would be the best options for Acme to built its factory. Examine how the laws of these 2 countries have influenced your decision on where to begin operations. Give examples. Be specific! Key Questions for International Business Persons Business/Legal Decision Making  International Private Law  Set of rules or procedural law that regulates relationships between persons (or entities) of different nationalities  Determines which legal systems and law of which jurisdiction will apply to a legal dispute among individuals involving a foreign element  Also known as “Conflict of Laws”  International Law  Transnational rules that national courts use to regulate three primary relatonships:  relationship between two nations  relationship between a nation and an individual  relationship between persons/entities from different countries  Sources:  int’l conventions & treaties; customs/general practice  widely accepted general principles of law and  all other sources used in national law (such as judicial decisions & scholarly writings)  Examples of international conventions & treaties?  Civil vs. Common Law  Civil Law: “Continental European Approach”  Oldest & most influential legal system  Roman-Germanic: codified law based on Roman Code  Legal rules set out in one comprehensive & systemized code and accompanying statutes - Ex: family law, property law, succession law, law of obligations, commercial law, labor law, criminal law, etc.  Civil vs Common Law  Common Law: “Anglo-Saxon Tradition”  Law is found on a “case-by-case basis”  Law is based on court decisions rather than formal codes: “precedent”  Overall accumulation of judicial decisions - law is developed and pronounced by courts  Stare Decisis (stand by the decision): requires courts to follow their own precedents; binds all of the lower courts of a jurisdiction to determinations of the highest court in that same jurisdiction  Civil vs. Common Law Countries  Civil Law  Common Law  Argentina, Brazil, Chile, Venezuela  Australia  Austria  Bangladesh  China  Canada & South Africa (mixed)  Egypt  Ghana  Finland, Sweden  India  Germany  Israel  Greece  Jamaica  Indonesia  Kenya  Iran  Malaysia  Italy  New Zealand  Japan  Nigeria  Mexico  Singapore  Poland  United Kingdom  South Korea  United States  Tunisia  Zambia What is The Law? Civil vs Common Law Countries Your home country:  Influenced by Common Law or Civil Law? You tell me!  What is The Law? Your Turn …. How does international law shape your life?