Summary LPC Notes CLIP (Commercial Law and IP) Revision Notes (80% Distinction) AGRADE

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