Business Law
26th Intake/Semester 5/F
Lecturer: Mr Raymond Fong
Date of Submission: 24th April 2010
Table of Contents
| 1 |
| 2 |
| 4 |
| 6 |
| 4.1 applicable Law | 6 |
| 4.2 Applications of facts to law | 6 |
| 4.3 Conclusion | 7 |
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Introduction
Common law system is originated in England in middle ages and laws argon do by the judges based on the decisions make on the cases. Thus, common law is also known as case law. Decisions on past cases by superior courts atomic number 18 binding and authoritative for future cases handled by lower courts. under(a) common law, there is contract law which facilitates the transactions made between different parties especially businesses. When there is breach of contracts, remedies are required to solve the problems that are likely to happen. One of the major(ip) remedies is common law remediation. The very first type of remediation could have been Weregeld paid by killer of Saxons for homicides. However, as era passes, more types of therapeutic are formed. In business world, return are handled based on case laws and originated from different cases provided as how common laws are formed. New rules and limitations are created from heterogeneous cases with different scenarios and facts. For instance, Hadley v Baxendale (1854) set out the rules on the farawayness that determine which losses are claimable for the damages from the breach of contracts. other example would be Dunlop Pneumatic Tyres Ltd v New service department and Motor Co. (1915) case that established guidelines to differentiate between liquidated damages and penalties.
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Damages
Damages is the main remedy when either one party breach the contract make the other party to deal with the losses. Common law damages is to compensate the innocent party with the amount of money that would...
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