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A set of flashcards covering key concepts of business law including definitions, roles, functions, sources of law, and the structure of the legal system in Australia.
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What is the definition of law?
A set of rules enforced by prosecution or litigation, recognized by the government.
What are the two types of legal systems mentioned?
Common law and Civil law
What is Business Law?
A set of rules regulating businesses and their activities, made by state.
What do the functions of law include?
Resolving disputes, maintaining social order, preserving community values, protecting the disadvantaged, stabilizing the economy, and preventing misuse of power.
What are the main sources of law in Australia?
Statue law and Common law.
Define ‘Statue Law’
Statute law refers to laws made by Parliament, enacted through legislation, which must be followed and enforced in the jurisdiction.
Define ‘Common Law’
Common law (Case law) is based on legal precedents established by the courts. It evolves through judges' decisions and interpretations, providing guidance in areas not covered by statutory law.
What is the Commonwealth Constitution Act 1900?
It created the federal system of government in Australia, defining the legislative structure and separation of powers. Created two levels of government: the Commonwealth and the states
What is the separation of powers?
A doctrine that divides the power of government into distinct branches to prevent the abuse of power.
What are Exclusive Powers?
Exclusive Powers are those that can only be exercised by the Commonwealth government, including taxation and foreign affairs, thereby limiting state authority over these matters.
What is the role of Parliament in making laws?
To create and pass legislation, which becomes Acts of Parliament.
What is delegated legislation?
Laws made by a body other than Parliament that have been given the authority to make those laws.
Who is the highest court in the Australian judicial system?
The High Court of Australia.
What is the Doctrine of Precedent?
The principle that courts must follow the decisions made by higher courts in the same hierarchy. This ensures consistency and predictability in the law.
What is the role of the Crown in a criminal case?
The Crown represents the state in prosecution against an accused individual.
How does the structure of the bicameral parliament work?
It consists of two houses: the Upper House (Senate) and the Lower House (House of Representatives), with members elected to represent electorates.
What is the purpose of the doctrine of separation of powers?
To distribute government powers and prevent corruption.