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

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 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.