ACCT 156 study notes

What is Law?

A body of rules developed by people to regulate conduct, make society stable, and resolve conflicting interests, enforceable by courts.

Substantive Law

Legal rules that define rights, duties, and liabilities of individuals and legal entities.

Procedural Law

Rules governing how courts operate and how legal rights and duties are practiced and enforced.

Ignorance of the Law

The statutory rule stating that being ignorant of the law is not an excuse for committing an offense.

Law vs. Justice

Law is objective, factual, and impersonal, Justice is subjective and personal, based on giving each person what they deserve.

Law vs. Morality

Morality reflects society's views on right/wrong. Laws often reflect moral standards, but not all moral rules are illegal, and law adapts over time.

Professional Ethics

Standards of conduct in business and professions that guide behavior beyond the legal minimum requirement.

Primary Sources of NZ Law

1. Legislation (Statutes & Secondary Legislation) 2. Common Law (Case Law) 3. Customary Law / Tikanga Māori.

Public Law

Governs relationships between individuals and the state (e.g., Constitutional, Administrative, Revenue, and Criminal law).

Private (Civil) Law

Governs relationships between private individuals or legal entities

Criminal Proceedings

Prosecution brought by the State; Burden of proof on Prosecution; Standard: Beyond reasonable doubt; Outcome: Conviction or Acquittal.