BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Common law is based on the current standards or customs of the people and is usually pronounced by judges in settling people’s disputes, while positive law is set down by a central authority to prevent disputes and wrongs from occurring in the first place.

Detailed explanation-2: -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-3: -Common law, also known as jurisprudence, is a body of unwritten laws based on judicial precedents. The concept is based on institutionalized judgments and interpretations from the courts and the jury. Common laws also illustrate the motivation for the implementation of new legislation.

Detailed explanation-4: -Characteristics Of Common Law Legal judgments or judicial rulings are final and conclusive. The court or by legislation appeals to the rulings of the highest court. There is wide freedom of contract. Only a small number of clauses are legally implied in the contract by law.

Detailed explanation-5: -The common-law tradition Common law evolved into a system of rules based on precedent. This is a rule that guides judges in making later decisions in similar cases. The common law cannot be found in any code or body of legislation, but only in past decisions.