Solutions for Business Law, 11th Australian Edition by Gibson
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Course
Business Law
Institution
Business Law
Complete Solutions Manual for Business Law 11e 11th Australian Edition by Andy Gibson, Sarah Osborne. Full Chapters Solutions are included - Chapter 1 to 14
PART 1 The legal framework
Chapter 1 Legal foundations
Chapter 2 How the legal system works
PART 2 Law of contracts
Chapter 3 Creation ...
Chapter 1
Legal foundations
Review Questions
1.1 If you were asked to provide a definition of ‘law’, how would you define it?
The text suggests that any definition of law will be shaped by the writer’s moral, political, religious
and ethical views and influenced by the society in which they live.
Two common themes are identified:
● control by humans; and
● human conduct, regulated by a superior authority or power—usually the state.
The suggested definition is that law is:
… a set of rules, developed over a long period of time, regulating people’s interactions
with each other, which sets standards of conduct between individuals and other
individuals, and individuals and the government, and that are enforceable through
sanction.
In Australia, ‘the law’ consists of rules and principles of conduct that are enacted by
governments, embedded in constitutions and statutes, and embodied in decisions of the courts.
It is worth noting at this point that when a reference is made to ‘the law’, it is a reference to the
body of law generally, while a reference to ‘a law’ is a reference to a particular legal rule.
1.2 In what ways does the law impact on a person’s personal life?
The law, as a regulatory device, provides the mechanism for society to function by prescribing
what people cannot do, and by informing them of what they can do and also what they must do.
There are very few aspects of life—personal or business—that are not regulated by law, either
directly or indirectly.
Law is relevant to all members of society for:
● employment;
● the purchase and sale of goods and services;
● the purchase of a home or business;
● insuring property; and
● the appointment of agents.
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