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The Impact of Commercial Law on Business and Society

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Businesspeople and commercial law are two elements that cannot go separately. When doing business, commercial law is always present and has to be taken into account in order to fulfill the law and have legal effects. But now, how is commercial law developed in business? What is the impact on it? Is it positive? Or negative? All those questions will answer an important matter regarding business and law, two keys that have a huge impact in nowadays society and life.

Defining Commercial Law

First of all, it is needed to define what commercial law is in order to understand which are the matters and issues that are affected. It is the body of law that applies to the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising,... Continue reading "The Impact of Commercial Law on Business and Society" »

The American Prison System: History, Theories, and Challenges

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Probation Officer

Investigation and Supervision

Jeremy Bentham

The Panopticon (New Type of Prison Layout)

Anomie/Strain Theory

Excessive Materialism as a Limited Means to Success

Quakers

Hard labor. 13th Amendment -> Section 1 allows prison slavery.

Prisoner vs. prisoner violence: rate of 28 per 1000

50 state systems (92% of all facilities) + federal, private (8%)

Main goal of corrections: to protect the public

(United States) Prison population: 25%

60% on probation in the US system

Intensive supervision, $70 billion, official immunity, absconding --> reasons for probation revocation

School of Thought: Cause and Effect

Positivists, labeling theory --> Stigmatization

Michael Walker

Prison in California, stayed 165 days (6 months), contemporary pain... Continue reading "The American Prison System: History, Theories, and Challenges" »

Business Protocol and Etiquette: Rules and Norms

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Official Protocol: Set of Norms

Social: Agreements that with time become universally used and accepted.

Business: Set of Conduct Agreements

Etiquette: Set of norms that have been created to facilitate our coexistence.

  • Internal: Communication codes between employees
  • External: Communication and behavior with third parties

Behavior of an Executive

  • Set the rules
  • Value their team
  • Guide an organization internal conduct and its relationships with its customers, partners, and shareholders.

Introduction Rules: 12 Golden Rules

  1. Respect hierarchy
  2. Loyalty
  3. Time management
  4. Become part of the team with an open, flexible, collaborative attitude
  5. Know how to follow leadership directions

Business Travel

  • Unexpected: Crisis, emergency, require fast thinking and action
  • Scheduled:
... Continue reading "Business Protocol and Etiquette: Rules and Norms" »

Basque Statute of 1936: A Brief Overview and Analysis

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Basque Statute (1936): Text Commentary and Analysis

Introduction

This legal text, the Basque Statute, was officially released on October 1st, 1936. It represents a landmark document intended for the citizens of Spain, particularly the Basque people. While drafted by representatives of the Basque citizens, primarily the Basque Nationalist Party (PNV), it required approval from the central Spanish government. This text signifies the ratification of the statute by the Spanish courts.

Political Context

The Popular Front, victorious in the February elections, held power at the time. Negotiations for this statute had been ongoing for a considerable period, with two prior versions preceding it.

Previous Versions

  • The first version, drafted before the 1931
... Continue reading "Basque Statute of 1936: A Brief Overview and Analysis" »

Understanding Administrative Hearings and Antitrust Laws

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Administrative Hearings and Antitrust Laws

In an administrative hearing, an administrative law judge hears the complaint and has the authority to swear witnesses, take testimony, make evidentiary rulings, and make a decision to recommend to the administrative agency heads for action. True

A person who is harmed by a conspiracy that violates the Sherman Antitrust Act may sue the wrongdoers for treble damages, which is four times the actual damages. False

An agreement to charge an agreed-upon price or to set maximum or minimum prices between or among competitors is called price fixing but it is not per se a violation of the Sherman Act. False

Boycotts are always illegal, even when done with good intentions. True

Nobel economist Milton Friedman believes... Continue reading "Understanding Administrative Hearings and Antitrust Laws" »

Foundations of Law and State Structure

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Law and the State Connection

Law is strongly connected to the state because the state creates most of the law, and the state itself is regulated by the law.

Understanding Constitutional Law

Constitutional Law contains rules on the organization of the state, its powers, and the relations between its organizations. It provides fundamental rights that protect the legal position of the individual against the state.

Sources of Constitutional Law

Primary sources of constitutional law include ordinary law, case law, and customs.

State Sovereignty Explained

Sovereignty can be understood as the supreme power or authority of a state to govern itself and determine its own laws.

Internal vs External Sovereignty

Internal sovereignty means the state is the highest... Continue reading "Foundations of Law and State Structure" »

Evolution of Justice Administration in Spain: 1723-1869

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Valencia, strengthening the presence of the Royal Council, as the main organ of justice and administration. This administration gained power in 'imposing and repealing' the laws. It became necessary to gather and compile all the regulations that had been developed. The compilation of the 'Autos Acordados' of 1723 and 1745.

A new philosophical current began to be introduced, in which the 'Reason' and the doctrine 'natural law' took on special relevance and represented the beginning of the separation between the Old Regime and a new system in which the real power, the feudal Church would have less prominence, in favor of national sovereignty, represented by their elected leaders from among them. The French Revolution of 1789 and the Declaration... Continue reading "Evolution of Justice Administration in Spain: 1723-1869" »

Understanding Internal Controls and Audit Planning

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PLANNING

In obtaining an understanding of an entity’s internal controls that are relevant to audit planning, an auditor is required to obtain knowledge about the:

  • Design of relevant internal controls pertaining to financial reporting in each of the five internal control components.

The risk that an auditor will conclude, based on substantive tests, that a material misstatement does not exist in an account balance when, in fact, such misstatement does exist is referred to as:

  • Detection Risk

Relationship between control risk and detection risk is ordinarily:

  • Inverse.

The audit program usually cannot be finalized until the:

  • Consideration of the entity’s internal control has been completed.

Which of the following relatively small misstatements most

... Continue reading "Understanding Internal Controls and Audit Planning" »

Extended Essay Process: A Step-by-Step Guide

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Initial Steps

  1. Subject Selection: Choose an available Diploma Programme subject for your extended essay, considering any restrictions imposed by your school.
  2. Material Review: Thoroughly read the assessment criteria, the relevant subject-specific chapter of the Extended Essay Guide, the IB's ethical guidelines, and other associated policies (e.g., those relating to animal experiments).
  3. Research Reflection Space (RRS): Set up your RRS and utilize it as the primary tool for planning and reflecting throughout the extended essay process.
  4. Topic Selection and Background Reading: Choose a topic and conduct preliminary background reading to gain a foundational understanding.
  5. Research Question Formulation: Develop a preliminary research question, incorporating
... Continue reading "Extended Essay Process: A Step-by-Step Guide" »

Legal Terms and Definitions: Libel, Slander, UCC, Strict Liability, and More

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Legal Terms and Definitions

Libel: a tort consisting of false and malicious publication printed for the purpose of defaming a living person.

Slander: an abusive attack on a person's character or good name.

Uniform Commercial Code (UCC): The purpose of UCC is to promote interstate commerce and facilitate the nurturing of business interests.

Strict Liability: Liability regardless of fault. In tort law, strict liability is imposed on those engaged in abnormally dangerous activities, on persons who keep dangerous animals, and on manufacturers or sellers that introduce into commerce goods that are unreasonably dangerous when in a defective condition.

Trademark: a word, name, symbol, device, or any combination of those used to identify and distinguish... Continue reading "Legal Terms and Definitions: Libel, Slander, UCC, Strict Liability, and More" »