Notes, summaries, assignments, exams, and problems for Law & Jurisprudence

17th Century: Time Drafts and Promissory Notes

C. Instruments were developed

• The Time Draft

  The time draft was the first development. This type allowed a stated period of time before payment was due. A seller of goods could draw such a draft on the buyer, who would then sign it. By signing the draft, the buyer engaged to pay it when it became due. If the seller did not want to finance the sale by holding the draft until the due date, the seller could transfer it to a lender for less than its face value. The lender could then be paid the face amount of the draft by presenting it to the buyer for payment on the maturity date. The time draft served both as a credit instrument and to transmit funds.

• The Promissory Note

  The promissory note appeared secondly

The Officer of Watch and Ship Safety

The officer of watch is the Master's representative and his primary responsibility is, at all times, the safety of the ship. He is responsible for ensuring that the planned passage is properly carried out during his watch. He must at all times comply with the International Regulation for Preventing Collisions at Sea, 1972, Master's standing orders, and Master's bridge order book.

Maintenance of Watch and Look-out

The officer of watch is responsible for the maintenance of a continuous and alert watch and look-out. Under no circumstances should he leave the bridge until being properly relieved.

Responsibilities of the Master

The Master is responsible for the safe navigation of the ship and ensuring that all watch-... Continue reading "Responsibilities of the Officer of Watch and Master in Ship Navigation" »

Employee vs. Self-Employment: A Deep Dive into EU Labor Law

In the 19th century, the FCC recognized two types of renting agreements: one for things and one for works. Contracts for renting work (louage) assumed that workers trade the abstract and commodified aspects of their working activity. Workers, considered free and equal to their counterparts, could consent to unilateral control over their labor. This led to the development of labor protection to react to the harsh consequences of labor, questioning the idea of labor as a commodity separate from humans and recognizing the personal involvement of workers in the performance of the contract.

Personal Value: Fundamental rights (freedom of association and collective bargaining, no discrimination,... Continue reading "Employee vs. Self-Employment: EU Labor Law" »

Types of Federalism

Centralized Federalism

The national government takes primary responsibility for determining national goals in all major policy areas and directs state and local government activity through conditions attached to money grants.

New Federalism

Refers to efforts, first in the Nixon administration, to return some federal tax funds to the states (general revenue sharing) and later efforts in the Reagan administration to consolidate federal grant-in-aid programs into block grants.

Representational Federalism

The idea that federalism is defined by the role of the states in electing members of Congress and the president rather than any constitutional division of powers.

Coercive Federalism

The federal government's assumption of powers traditionally... Continue reading "Understanding Federalism: Key Concepts and Terms" »

Credit: Economic and Legal Framework

Economic and Legal Concepts of Credit

1. Economic Concept

   Trust allows one party (the creditor or lender) to provide money or resources to another party (the debtor or borrower). The borrower does not reimburse the lender immediately, generating debt, but instead promises to repay or return those resources at a later date. Credit encompasses any form of deferred payment. The borrower receives something of value now and agrees to repay the lender at some later date, typically with interest.

2. Legal Concept

   Credit is defined as a promise of payment formalized through a contractual agreement between the debtor and creditor. In this agreement, the debtor has the obligation to pay, and the creditor holds the right to claim

Legal Theories on the Nature of Credit Instruments

1. Contractual Theory

   Contractual Theory. Influenced by civil law tradition, this theory states that the fundamental obligation of the legal relationship exists between the debtor and the creditor. The legal value of the document lies in the underlying transaction, not merely in the writing itself. It is not a declaration of intent but a mere detachment of the document, which establishes the concurrence between its content and the declaration, thereby giving birth to a commercial transaction through the submission of the document.

2. Unilateral Theory

   Unilateral Theory. The obligation is born from a simple unilateral promise, rather than an offer from the maker requiring acceptance or drafting and subscription.

Public Opinion and Policy

Public Opinion: The collection of views shared by a segment of society on an issue of interest.

Public Policy: The choices the government makes and the actions it takes in response to a particular issue or problem.

Political Socialization and the Media

Political Socialization: The process by which people develop political beliefs.

Mass Media: Means of communication that provide information to a large audience.

Polling and Bias

Sampling Error: The margin of error that indicates a poll's accuracy, given as a percentage above and below the poll's results.

Bias: Refers to errors introduced by polling methods that lead to one outcome over others.

Objectivity: Freedom from bias and outside factors, such as timing, that may influence... Continue reading "A Glossary of Political Terms for Engaged Citizens" »

The Complexity of Abortion: Types and Ethical Debates

Abortion is currently a hotly debated topic around the world. In some countries, it has become an illegal practice punishable even by imprisonment, highlighting the profound legal and moral divisions surrounding the issue.

Defining the Different Types of Abortion

Spontaneous Abortion (Miscarriage)

Spontaneous abortion, commonly known as miscarriage, is the unintentional termination of a pregnancy. This can occur due to some failure in the body of the fetus or the mother, or external factors such as maternal smoking or drug use during the gestation period.

Induced Abortion (Elective)

Induced abortion occurs when a mother goes to a specialist and decides to terminate the pregnancy. This procedure... Continue reading "Medical Definitions and Ethical Debate on Abortion Types" »

Business Structures: A Comprehensive Guide

Sole Trader

Advantages:

• Full control over profits
• Fast decision-making
• Simple setup process
• Easy bookkeeping

Disadvantages:

• Unlimited personal liability
• Limited access to credit
• Reliance on personal funds

General Partnership

Advantages:

• Shared profits and responsibilities
• Collaborative decision-making
• Increased access to capital and credit

Disadvantages:

• Unlimited personal liability for all partners
• Potential for disagreements and conflicts

Limited Partnership

Comprises General Partners and Limited Partners.

General Partner:

• Shares profits and makes decisions
• Has unlimited liability

Limited Partner:

• Shares profits but has limited decision-making power
• Liability limited to capital contribution

Private Limited Company

Advantages:

International Trade Glossary

Shipping and Logistics

Cargo

Port of Discharge

Port of Origin

Compete

Consignee

Quote

Contact

Rates

Container Terminal

Reliable

Free of Charge

Shipper

Free of Damage

Unload

Freight Container

Vessel

Guarantee

Volume

Load

Worldwide

Loss

Advantage

Profit

Buyer

Requirements

Ensure

Resale

Export

Risk

Follow-up

Run a Business

Foreign

Secure Transactions

Import

Shipping Arrangements

Investment

Sourcing

Manage Risk

Start a Business

Manufacturer

Supplier

Minimize Costs

Trade

Negotiations

Trust

Delay

Less than Container Load (LCL)

Disadvantage

Middleman

Distrust

On Board

Exclusive Basis

Profit Margin

Foot

Risky

Full Container Load (FCL)

Unreliable

Insecure

Wholesale

Business Telephone Etiquette

Announce

Out of the Office

Ask for Permission

Pleasant

Avoid

Professionally

Call Someone Back

Put