Read the summary and the most important questions on Introduction to Business Law | 9780198824886 | Lucy Jones

• 1 The Nature of English Law !!!!!

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• What does the doctrine of binding precedent mean?

  It means that in deciding a case an English judge does not just look at earlier decisions of judges in similar cases for guidance, but is actually bound to apply the law decided by those earlier cases.

• What is National Law?

  Concerning the country.

• 3 Sources of English Law

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• What are the three most important sources of English law?

  Legislation (Acts of Parliament and delegated legislation), case law, and EU law.

• In what two parts is legislation divided in?

  Legislation is divided into Acts of Parliament (primary legislation), and into delegated legislation (secondary legislation).

• What are the Acts of Parliament (primary legislation)?

  It creates new laws or changes or repeals old laws (as a bill). It goes through the House of Commons and the House of Lords, and then receive Royal Assent from the Queen. First a green paper for a range of legislative options, then the white paper which sets out the government's revised proposals in detail.

• What is the delegated legislation (secondary legislation)?

  Making of law where the parliament doesn't have any time for, therefore, it passes Acts of Parliament which lay down the basic framework of the law and delegate the power to create the detail to government departments, local authorities, and other bodies.

• What is the Doctrine of Judicial Precedence?

  Where a case has established a principle of law, that principle must be followed by courts of lower authority in deciding subsequent cases with similar issues.

• 4 The Nature of the Agreement

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• Can a person wishing to contract with the organization negotiate different terms?

  No, a person wishing to contract with the organization can only accept the terms as stated or refuse the contract. But there can be a negotiation to the terms for example give extra money.

• What are the five essential elements of a contract?

  Agreement; consideration; an intention to create legal relations; compliance with required formalities; capacity to contract.

• What is the capacity to contract about?

  That there are e.g. Special laws relating to minors, drunks, mentally disabled persons, and corporations. So the offeree needs to be capable of thinking clearly.