Commercial Law

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ChiNg: dan kill me
ChiNg:kill me
dAn says:Why?
dAn says:Dun wan lar
ChiNg:COML test tomorrow
dAn says:Bah, easy easy
ChiNg:hard hard
dAn says:No lar, easy for you and me
ChiNg:Explain what distinguishes the law of contract from other kinds of private or civil law that regulates business transactions
ChiNg:can u answer that?
dAn says:Contract law is all about contractsdAn says:ie Formation of Contracts
dAn says:Interpretation of contracts
dAn says:Whether a contract is void (that is, not legitimate)
dAn says:A contract may be void if it is illegal
dAn says:Or if it is uneforceable because it is missing certain elements to be a contract
dAn says:I don't really think vivil law really regulates business transactions except in the sense that it might have some effect on business practice
dAn says:vivl* = civil
dAn says:Like, not doing things that might be negligence.
ChiNg:oh how about private law
dAn says:Civil law gives rise to 'suits',where you can sue a person for doing you a wrong
dAn says:Privite law is civil law I think
ChiNg:oic
dAn says:Did you go to your classes
ChiNg:if two conpany sign a contract ,, then it is a law?
ChiNg:or it is just agreement
dAn says:A contract is just a document that is 'binding'
dAn says:It means that each party has made a proise to the other party, and both parties intend that those promises are binding in law
ChiNg: then if two parties sign contract how do contract law comes in dAn says:proise* = promise
dAn says:What do you mean?
ChiNg: how does comtract law regulate the private legal relationship ie contract
dAn says:I told you above
dAn says:Usually there isn't an issue, but if one party fails or refuses to do its promise, or tries to terminate the contract then the other party will take them to court
ChiNg: oh so there's where contract law comes in
dAn says:Sometimes, one party that there was no contract made, many many different reason eg they never intended there to be a legally binding agreement, the contract wasn't finalised etc
dAn says:In this situation, contract law would determine whther a contract had actually been formed between the parties, ie whther there is a contract
dAn says:Sometimes one party will say that the contract means one thing, but the other party will disagree and say it means something else. In this case, contract law will determine what the contracts meaning is, ie what the interpretation is
dAn says:Basically, entering into a contract bestows private rights on each party. Each party is saying to the other that I give you the right to seek legal remedies aainst me if I don't perform this promise.
dAn says:Does this help?
ChiNg: help heaps
ChiNg: one more
ChiNg: r treaties sources of state law
dAn says:Sometimes yes
ChiNg:so sources of state law will be parliament , statue
ChiNg:legislation,commom law , what else
dAn says:The thing is though that treaties aren't legally enforceable until the legislature 'incorporates' them into its own legislation.
dAn says:Hold on, you're confusing your terms
dAn says:Parliament is the legislature, and they make what we call 'legislation' or 'statue law'
dAn says:So existing law is statue law and common law
ChiNg: oh then is parliament sources of state law
dAn says:It deends what you mean by 'source'. Parliament makes law, so they are a source of statute law.
dAn says:But the ideas for statues have many sources, such as treaties
ChiNg:but is state law n law the same
dAn says:Do you mean statue or state, they are different thingsdAn says:damn, statue = statute
ChiNg:state law n law
ChiNg:coz my lec specify state law
dAn says:Are ou sure he didn't say statute law? Law is just a big generic term, like 'Science', or 'music'. State law refers to the law of a State. A state is a soveriegn nation, like New Zealand. State law is distinguishable from international law.
ChiNg:well the question says explain what are the sources of state law
dAn says:Then just say everything you know. International law (like treaties or covenants, things that the UN might make, like the International Declaration of Human Rights) might become state law. First a country will sign the treaty to show that it supports it, then it must change its domestic law (or state law) to match what it has promised to do.
dAn says:It does this either by ratifying or incorporating it. One means that they pass a statute that says exacly the same thing, the other means that they adjust existing law, amend statutes, and put policies in place that are consistet with what the international document says. I can't reember which is which
dAn says:Then there is the common law which comes from the judges. and most importantly statute law which is made by parliament
ChiNg:but aren's NZ law inherited from england
dAn says:150 years ago. So we started with what they already had. For a short time they passed laws for us, then they allowed us to make our own as long as they didn't clash, then they let us do whatever we wanted, then finally we asserted our independance so that there was no loner any connection
dAn says:But their common law is persuasive when considering our own common law
ChiNg:i see i kinda think sources of state law are legislation,precedent, and custom or usage
ChiNg:tell me if i'm wrong
dAn says:That's also correct, and if thats what he's told you then thats right
dAn says:precedent is basically common law
dAn says:So, statute, precedent, and custom or usagedAn says:I'd forgotten that last one
dAn says:But it's the least imprtant. Except, it will get you marks, so mention it
ChiNg:but he also says common law,statute n treaties
ChiNg:ermm but i tot they r not really the sources what do u think
ChiNg:ok maybe treaties can be sources of state law
dAn says:legislation = statute. Same thing. Common law = precedent.
dAn says:I already told you that lar!
ChiNg: oh ok ok
ChiNg: i got it
ChiNg: wow
ChiNg: who do they make it so complicated can't they just use the same term
dAn says:Hehe, this is good revision for me
ChiNg: oh good
dAn says:Well, there can be different tyes of legislation i think. It includes statute and regulations. So legislation s a slightly broader term, so better to say legislation, though statute is the major category.
ChiNg: oh so statute included legislation
ChiNg: or the other way round ?
dAn says:And common law is slightly broader than precedent. Precedent just means "the way things have been done in th past". So, when one scenario arises, if there is an earlier scenario that is similar then it tells them how to deal with it. SO precedent is a bit more specific. Common law just applies to the rules that judges make
dAn says:Read what I said lar, I said "It [ie legislation] includes statute and regulations"
ChiNg: i know already la i saw it after typing
dAn says:But they are basically the same thing
ChiNg:hey u help heaps man
ChiNg:did u study corporate law
dAn says:No, just first and second year law
ChiNg: but u do know a bit of it right
ChiNg: about the contractarian n communutarian
dAn says:I know the stuff I've told you
dAn says:Not what you just said
ChiNg:ok ,,, some basic stuff
ChiNg:private law is between individuals right
dAn says:Well, fundamental, but not basic
dAn says:Yup
ChiNg:public is for individuals n state or state alone right
ChiNg: is that the only differences
dAn says:Yup
ChiNg: ok ermm what can i write if they ask me to explain the difference between private n public state law
ChiNg: only the above things i've mentioned
dAn says:Yup, but flech it out a bit
dAn says:eg Public law regulates the relatioship between the individual and the state
ChiNg: but aren't there internal n external public state law
dAn says:I guess, it regulates the behavious of the state to itself, and also the behaviour of the state towards others.
ChiNg: but aren't all state law public in a sense that it is originated from the state
dAn says:It orginates from parliament
ChiNg: nok ya i think i know
ChiNg: dan i don't wanna study all these commercial law things
ChiNg: ah can u tell me how interesting law is n encourage me to have a heart to study
ChiNg: coz i find all these things so useless
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dAn says:Law is very interesting
ChiNg:how ?
dAn says:Way more tha comm law.
dAn says:It tells us about rules, how we are controlled, why, where the rules come from and how there are valid.
dAn says:It tells us about our relationship with the state, and consequently all of New Zealand
dAn says:And it tells us also how alot of the time, common sense isn't reflected in the law, that absurd things can happen just because of a few words on a bit of paper.
dAn says:And with that I must leave you.
dAn says:Hope I helped. Bye bye
ChiNg: u helped heaps
ChiNg: i'll treat u a meal if i pass my test
ChiNg: hehe