Law Essentials: Key Concepts and Legal Terms
Substantive Law vs. Procedural Law
Procedural law provides the process that a case will go through. It determines how a proceeding concerning the enforcement of substantive law will occur. Substantive law defines how the facts in the case will be handled, as well as how the crime is to be charged.
Housing Law: Tenant Definition
One who holds or possesses real estate or sometimes personal property by any kind of right. For example, “a housing law is now leasing the apartment”. This person is a tenant.
Read MoreUnderstanding Loss of Earnings, Compliance, and Payment Methods
Loss of Earnings (Damages)
According to Article 1106 CC, loss of earnings refers to the profit a creditor has ceased to receive due to the debtor’s responsibility. This loss relates to a patrimonial injury, specifically the loss of a net increase in assets that would have been obtained as a result of a breach, unlawful act, or harm imputed to a third party.
The Court requires a careful and restrictive approach when assessing evidence of the existence of profits, especially regarding the “quantum”
Read MoreUnderstanding the U.S. Political and Administrative System
The Political and Administrative System of the U.S.
What Kind of Government Does the U.S. Have?
The U.S. has a Federal System of government composed of:
- A central (or federal) government seated in Washington D.C.
- The state governments of the 50 states.
How Is Governing Power Distributed?
The governing power is stipulated by the Constitution:
- The Federal government must not interfere with the state governments.
- All states must abide by the fundamental rights and privileges of all citizens.
What Are the Fundamental
Read MoreUnderstanding Audit Report Types: A Clear Breakdown
Understanding Audit Report Types
Types of Audit Opinions Based on Circumstances
Favorable Opinion
No circumstances affect the opinion.
“The Annual Accounts express, in all significant respects, a true…”
Review with Caveats
Any of the circumstances described below.
“The Annual Accounts express the true picture… except for…”
Adverse Opinion
- Errors or failures of GAAP.
“The financial statements do not express…”
Review Denied
- Limitation on scope
- Uncertainties
The auditor cannot express an opinion on the financial
Read MoreUnderstanding Corporations: Concepts, Articles, and Organs
Corporation Basics
1. Concept
A corporation operates under a specific name and is composed of partners whose liability is limited to their payment for shares. Key elements include capital and partners. A corporation can exist under a specific designation.
2. Articles of Incorporation: Legal Requirements
The legal system mandates the following in the articles of incorporation:
- Capital must be exhibited.
- The number, nominal value, and nature of the shares.
- The form and terms of dividends payable on unpaid
Jeremy Bentham’s Legal Philosophy and Impact on Law
Bentham’s Legal Philosophy
Interpretation of Law
The second challenge involves interpreting rules. Law, a mandate reflecting legislative intent, is interpreted by judges. While judges seem subordinate to the legislature, Bentham’s interpretation suggests they seek the mens legislatori. This adds a positive duty: proposing legislative amendments when laws are inadequate.
Legal Codification for Safety and Equality
Bentham believed law is essential for safety, which secures rights. Codification ensures
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