BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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common law
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international law
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unified law
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shared law
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Detailed explanation-1: -law based on custom and shared throughout a state or a country is known as. administrative law.
Detailed explanation-2: -Common law is the body of customary laws based on the judicial decisions and is embodied in the already decided cases which are administered in the common law courts of England since the middle ages. Common law emphasizes the centrality of the judges in the development of law.
Detailed explanation-3: -The American legal system is a “common law” system that largely depends on court precedent in formal adjudications. Even when a statute is in question, judicial judgments in previous court cases are highly important to the court’s resolution of the subject before it.
Detailed explanation-4: -The legislation, precedents, customs and morality are all sources of law. Custom can be classified into two types: 1. Custom without sanction, and 2. Custom having sanction.
Detailed explanation-5: -The common law system – a system of law based on recorded judicial precedents-came to India with the British East India Company. The company was granted charter by King George I in 1726 to establish “Mayor’s Courts” in Madras, Bombay and Calcutta (now Chennai, Mumbai and Kolkata respectively).