Commercial Law Revision Notes
Law is: The set of rules, made by state, and enforceable by prosecution or litigation.
Business Law: The set of rules regulating businesses and business activities made by the
state and enforceable by prosecution or litigation.
Purpose of law:
• Resolve disputes...
Summary LPC Notes CLIP (Commercial Law and IP) Revision notes 2022 (Distinction - I got 100%) Commercial Law Revision Notes Law is: The set of rules, made by state, and enforceable by prosecution or litigation. Business Law: The set of rules regulating businesses and business activities made by the state and enforceable by prosecution or litigation. Purpose of law: • Resolve disputes • Maintains social order • Preserves and enforces community values • Protects the disadvantaged • Stabilizes the economy • Prevents the misuse of power Law Public law • Constitutional law • Administrative law • Criminal Law • Taxation law Private law • Tort law • Contract law • Competition and Consumer law • Property law • Commercial law • Employment law • Company and Partnership law Types of Legal systems Civil law: • Most Common • Comes in forms of codes, statutes and constitutions • Examples include France, Germany, Russia, China, Japan, Thailand and Korea Common Law • Main sources of law are legislation and case law • The judiciary is much more powerful and influential in common law countries than in civil law countries • Examples include United Kingdom, Australia, Canada, New Zealand Summary LPC Notes CLIP (Commercial Law and IP) Revision Notes (80% Distinction) 2022 Australian Legal System 6 characteristics • Liberal democracy: Laws are made by, the executive government consists of, elected representatives who exercise their power subject to the rule of law and to the various federal and state constitutions • Common Law legal system: Our legal system is based on the British legal system, and can be contrasted with other forms of legal systems such as civil law legal system. • Constitutional monarchy: The head of state is Elizabeth 2 Queen of Australia • Federation: In addition to the commonwealth government there are various state governments that are not subordinate to the federal government • Separation of power: Laws are made by a parliament administered by an Executive council or government in Council, and interpreted and applied to particular cases by a court system. • Responsible Government: The ministers comprising the executive are elected representatives who are also members of an are answerable to the legislature. History: • The British settled Australia rather than conquered it because they did not recognize the indigenous laws in place • !901 Commonwealth of Australia came into existence each state giving certain powers to the federal government and at the same time retained their individual identities and legislative authority • Today Federal, State and territory government are free from interference from British parliament • The final step is to become a republic Exclusive Powers: (Powers only exercised by Federal parliament/government) Federal parliament only, examples include customs, defense, currency and territories. Concurrent Powers: (Most of the powers granted to Federal under the constitution) Federal and state parliaments, examples include Taxation, Marriage, Banking and external affairs. Residual Powers: (Not expressed in constitution so state parliament) State Parliament only, examples include education, Property, Crime and Health. Federal/State Relations • If Federal parliament has not legislated in relation to any matters listed in s51, then the matter remains within the authority of the state. • If the state parliament has made a law in relations to one of these matters and the federal parliament makes a law on the same matter then s109, Australian constitution provides that the latter shall prevail and the former shall be invalid. Summary LPC Notes CLIP (Commercial Law and IP) Revision Notes (80% Distinction) 2022 Changing the Constitution • The proposed amendment must: o Be passed by an absolute majority of both houses of parliament and o Be put to the Australian voters in the form of a referendum and passers by ▪ A majority of voters ▪ A majority of states o 40 attempts only 8 have been successful The legislature: • Legislative power is the power to make law, and in Australia is exercised by the federal parliament and the various state and territory parliament • Parliament means that it is the ‘sovereign lawmaker’ within Australia Federal Government: Crown: Governor General Upper house: Senate Lower house: House of Representatives State Parliament Crown: Governor Upper house: Legislative council Lower house: Legislative assembly Territory parliament Crown: Administer Upper house: NONE Lower house: Legislative assembly Lower house- Federal Parliament: • House of representatives is the ‘peoples house’ providing equal representation for the people of Australia • Australia is divided into electorates about 150, with roughly equal numbers of voters, each of which elects a representative • The political party with the majority of members in the House of Representatives form executive government • The prime minister is traditionally a member of the lower house Upper House- Federal Parliament: • The senate is the ‘states house’ if protects the rights of the states • There is an equal number of Senators from each state (12) in order to protect the interests of the less populous states: The territories are represented by 2 senators each.
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