- •1. Law degree programmes in the uk, us, rf.
- •2. Differences between tort law and criminal law.
- •3. Criminal law as one of the main bodies of law.
- •4. Commercial law is the body of law that governs trade and commerce.
- •5. Advantages and disadvantages of corporations compared to sole proprietorships and partnerships.
- •6. Types of torts.
- •7. Formation and management of companies.
- •8. Capitalization issue.
- •9. The main types of alterations in a company.
- •10. Contract formation.
- •11. Remedies available for breach of contract.
- •12. The exceptions to the privity doctrine.
- •13. The purpose of employment legislation.
- •14. The main aspects of sale of goods law.
- •15. The distinction between freeholds and leaseholds.
- •16. The major types of Intellectual Property Law.
- •17. The functions of negotiable instruments.
- •18. The two types of security interests.
- •19. The concept of creditors’ favoured status.
- •20. The area of competition law.
4. Commercial law is the body of law that governs trade and commerce.
Commercial law, also known as business law, is the body of law that applies to the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising, trade, and sales. It is often considered to be a branch of civil law and deals with issues of both private law and public law.
Commercial law includes within its compass such titles as principal and agent; carriage by land and sea; merchant shipping; guarantee; marine, fire, life, and accident insurance; bills of exchange and partnership. It can also be understood to regulate corporate contracts, hiring practices, and the manufacture and sales of consumer goods. Many countries have adopted civil codes that contain comprehensive statements of their commercial law.
In the United States, commercial law is the province of both the United States Congress, under its power to regulate interstate commerce, and the states, under their police power. Efforts have been made to create a unified body of commercial law in the United States; the most successful of these attempts has resulted in the general adoption of the Uniform Commercial Code, which has been adopted in all 50 states (with some modification by state legislatures), the District of Columbia, and the U.S. territories.
Commercial law refers to the body of law that pertains to commercial transactions. Its wide-ranging scope includes many different areas that affect businesses and individuals who enter into commercial transactions. Contracts, agency, bailments, carriers, sales, product liability, partnerships, corporations, unfair competition, secured transactions, property, commercial paper, insurance, and bankruptcy are all governed by commercial law.
5. Advantages and disadvantages of corporations compared to sole proprietorships and partnerships.
A company is a business association which has the character of a legal person, distinct from its officers and shareholders. This is significant, as it allows the company to own property in its own name, continue perpetually despite changes in ownership, and insulate the owners against personal liability. However, in some instances, for example when the company is used to perpetrate fraud or acts ultra vires, the court may 'lift the corporate veil' and subject the shareholders to personal liability.
By contrast, a partnership is a business association which, strictly speaking, is not considered to be a legal entity but, rather, merely an association of owners. However, in order to avoid impractical results, such as the partnership being precluded from owning property in its own name, certain rules of partnership law treat a partnership as if it were a legal entity. Nonetheless, partners are not insulated against personal liability, and the partnership may cease to exist upon a change in ownership, for example, when one of the partners dies.
A sole proprietorship, also known as the sole trader or simply a proprietorship, is a type of business entity that is owned and run by one natural person and in which there is no legal distinction between the owner and the business. The owner is in direct control of all elements and is legally accountable for the finances of such business and this may include debts, loans, loss etc. The owner receives all profits (subject to taxation specific to the business) and has unlimited responsibility for all losses and debts. Every asset of the business is owned by the proprietor and all debts of the business are the proprietor's. It is a "sole" proprietorship in contrast with partnerships (which have at least 2 owners). A sole proprietor may use a trade name or business name other than his, her or its legal name. They will have to legally trademark their business name, the process being different depending upon country of residence.