Business Law BBA/BS/BF/BEC/BAC/BSP/BF 190 Flashcards

Vocabulary-style flashcards based on lecture notes covering the Zambian legal system, Contract Law, Sales of Goods, Agency, and Tort Law.

Law

The principles and regulations in a community established by some authority and applicable to its members (individuals, businesses, private and public organizations), and enforceable by a judicial decision.

State

A legal entity consisting of a group of persons elected by a particular society for the purpose of managing and protecting their rights and freedoms, defined by the $3$ element doctrine.

Executive Branch

The branch of government that identifies aspects in society needing regulation and initiates policies to meet those requirements.

Legislature

The branch of government responsible for enacting laws to regulate initiated policies, which is done through Parliament.

Judicial Branch

The branch of government that interprets and ensures the enforcement of enacted laws.

Separation of Powers

A model of governing where three governmental branches operate separately to prevent centralization and abuse of power.

Rule of Law

A fundamental democratic principle implying every person is subject to the law, including lawmakers and officials, ensuring everyone plays by the same rules.

Mixed Legal System

The Zambian legal system modeled after English common law and customary law, including the doctrines of equity and English statutes in force on the $17th \text{ August } 1911$.

Public Law

The branch of law involving the relationship between the state and its citizens, including Constitutional, Administrative, and Criminal law.

Private Law

Also known as Civil Law, it involves the relationship between individual citizens or legal entities, covering Contract, Tort, Property, and Family law.

Business Law

Substantive law regulating the registration, formation, and management of businesses and overseeing commercial transactions (B2B and B2C).

PACRA

The Patents and Companies Registration Agency, with which every business in Zambia must be registered according to Chapter $388$ or Chapter $389$ of the Laws of Zambia.

TPIN

The Taxpayer Identification Number, which every business in Zambia must obtain for tax purposes from the Zambia Revenue Authority.

Legislation

Written laws and statutes passed by Parliament and assented to by the President.

Subordinate Legislation

Also known as delegated legislation, refers to laws passed by bodies like local councils to which Parliament has delegated legislative powers.

Common Law

A system of laws developed in England starting in the $11th$ Century based on customs and inconsistent regional practices recorded into general principles by judges.

Doctrine of Equity

A parallel system to Common Law established to mitigate the harshness and rigidity of Common Law by providing fairer remedies such as injunctions.

Injunction

A judicial order that restrains a person from beginning or continuing an action invading the legal rights of another or compels a specific act.

Judicial Precedent

The principle where decisions of superior courts are binding on lower courts in similar cases to ensure certainty and uniformity.

Lex Mercatoria

A body of commercial rules and principles used by merchants during the Medieval period, also known as the Law Merchant.

Constitutional Court

Established in $2016$ by Clause $127$ of the Constitution, it has jurisdiction over interpretations and violations of the Constitution and presidential elections.

High Court

A superior court with jurisdiction over criminal and civil matters, subject to the High Court Act Chapter $27$ of the Laws of Zambia.

Subordinate Court

Courts constituted in each District of Zambia; first-class Subordinate Courts have a civil claim limit of $30,000 \text{ ZMW}$.

Contract

An agreement between two or more parties promising each other to give and receive something with the intention to be legally bound.

Freedom of Contract

The classical doctrine giving parties the right to contract with whomever they want and on the terms they want, regarded as the heart of contract law.

Pacta Sunt Servanda

A fundamental principle of contract law meaning 'pacts must be kept.'

Offer

A statement of willingness to contract on specified terms addressed from the offeror to the offeree.

Invitation to Treat

A statement made to invite others to make an offer, such as advertisements, shop window displays, auctions, or mere statements of price.

Postal Rule of Acceptance

A rule established in Adams v Lindsell ($1818$) stating that an acceptance made by post takes effect as soon as the letter is validly posted.

Consideration

Something of value given by both parties to a contract that induces them to exchange mutual performances; it is the benefit each party expects from the deal.

Executed Consideration

An act performed in fulfillment of a promise made by the promisor, such as in a unilateral contract.

Past Consideration

A promise made after an act was already done; it is generally not valid as the promise is not given in return for the other promise.

Promissory Estoppel

An equitable doctrine that stops a claimant from changing their mind about a promise when it would be unfair and inequitable to do so.

Privity of Contract

A doctrine providing that a contract cannot confer rights or impose obligations on any person except the actual parties to it.

Juristic Persons

Legal entities such as companies that are independent from the natural persons behind them and possess an artificial personality.

Vitiating Factors

Imperfections in contract making including mistake, misrepresentation, duress, and illegality that may invalidate a contract.

Fraudulent Misrepresentation

A false statement of fact made knowingly, without belief in its truth, or recklessly.

Duress

Pressure applied to a party consisting of actual or threatened violence, threats to property, or economic pressure to force them into a contract.

Undue Influence

An equitable remedy where one party gains an unfair advantage over another by applying improper pressure in relationships of trust and confidence.

Frustration

A doctrine where a contract is discharged if an event occurs without fault of either party making further performance impossible or illegal.

Tort

A French-derived word for 'wrong', referring to the law of civil liability for wrongfully inflicted injury.

Battery

The direct and intentional application of physical force to another person without lawful justification.

Unlawful Imprisonment

The infliction of complete bodily restraint on another without lawful justification for an unreasonable length of time.

Private Nuisance

Unlawful interference with a person's land or their use and enjoyment of it, requiring a proprietary interest and proof of damage.

The Neighbour Principle

Established in Donoghue v Stevenson ($1932$), it requires taking reasonable care to avoid acts or omissions that you can reasonably foresee would be likely to injure your neighbor.

Libel

A defamatory statement published in a permanent form (writing, broadcasting) that is actionable per se without proof of special damage.

Slander

A defamatory statement in non-permanent form (spoken words, gestures) that generally requires proof of special damage.

Innuendo

A statement that is not defamatory at first sight but appears so when surrounding circumstances imply a hidden defamatory meaning.

Strict Liability

Liability for an act merely for having done it, regardless of whether the person acted intentionally, recklessly, or negligently.

Vicarious Liability

The liability of one person (master/employer) for torts committed by another (servant/employee) in the course of employment.