Introduction to Business Law

Flashcards created for key concepts and definitions from the Introduction to Business Law lecture notes.

Law can be defined as an ensemble of __ that are general, impersonal and mandatory.

legal rules

The main difference between common and civil law is that common law follows a rule on __.

precedent

The two main branches of law are and .

Public Law and Private Law

Public law always involves the __.

State

A set of legal rules that regulate a particular category of social relations form a __.

legal institution

The __ applies to all persons, regardless of their citizenship.

law

International trade law has a contradiction between the international character of international trade law and the __ character of law.

national

__ law does not acknowledge a right of 'specific performance'.

Common

In __ law, the judge establishes the facts of the case and applies the applicable code's provisions.

Civil

The entry into force of a legal rule is usually __ after the publication of the law.

3 days

The __ consists of legal norms that determine jurisdiction, applicable law, and recognition of foreign decisions in cross-border matters.

Private (Trade) international law