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

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.

Personal Property Classification

Personal Property

1. Goods. Are moveable, tangible property whose value depends upon its physical characteristics.
2. Intangibles. Are comprised of choses in action, like accounts and other contract rights, and certain miscellaneous rights such as informational rights and those protected by a patent, trademark, or copyright law.
3. Indispensable Paper.
   • The right itself, such as an obligation to pay money, is intangible, but with these types of property, the right is embodied in the writing, and the writing is tangible.
   • Its value does not lie in its physical characteristics but in the rights embodied in the paper.
   • The mechanism used to transfer the rights is physical delivery to the transferee of the paper itself, because the

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

Defamation

Defamation is the “publication of a statement which tends to lower a person in the estimation of right-thinking members of society generally; or which tends to make them shun or avoid that person.”

Kinds of defamation:

According to English Law, defamation is of two kinds: Libel and Slander. “A libel consists of a defamatory statement or representation in permanent form; if a defamatory meaning is conveyed by spoken words or gestures it slanders.” Slander is converted into libel when spoken words are written on paper.

How libel is committed:

Printing, mark or sign exposed to view, picture, statute, waxwork etc. Libel refers to eye.

How slander is committed:

Defamation in the manual language of the deaf and dumb, and mimicry and gesticulation... Continue reading "Understanding Defamation Law: Types, Distinctions, and Defenses" »

PhD

Abbreviation for doctor of philosophy: the highest college or university degree, or someone who has a thesis. Also called doctorate. The highest degree awarded by a graduate school, usually to a person who has completed at least three years of graduate study and a dissertation approved by a board of professors.

Secondary School

A school for young people, usually between the ages of 11 and 18. A high school or a school of corresponding grade, ranking between a primary school and a college or university.

Thesis

A long piece of writing on a particular subject, especially one that is done for a higher college or university degree. A dissertation on a particular subject in which one has done original research, as one presented by a candidate for... Continue reading "Understanding Legal and Academic Terms: A Comprehensive Guide" »

Satirical subgeneres:

Formal verse satire (dialogue with “adversarius”, or restrainer, like Arbuthnot) [problem of unity and method]. Traditional form from Greece and Rome with a polish attack on a vice. The interlocutor is an instrument for balancing the attitude of the satirist. However, it is very limited; these are just short poems on different human vices.

Menippean

(mixed) [Anatomy (Frye): ideas] [other genre problems: mode, genre or borrower of forms / humour- comic / comedy / parody / mock-heroic]. It is a more fashionable kind of genre without definite form. You adapt to any other existing genre or to non-genre in particular. It can be found anywhere: poem, novel, epic… It uses a double attack: against vices and against conventions... Continue reading "Satirical Subgenres: Formal Verse, Menippean, and Scriblerian Practices" »