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

Chapter 1 Review: Understanding Risk

Key Risk Management Terms

Types of Risk

• Systemic Financial Risk: Risk that affects the entire economy or system, not just individuals.
• Risk: Uncertainty about a future outcome, particularly a negative one.
• Pure Risk: Risk with the possibility of loss but no chance of gain.
• Speculative Risk: Risk with the possibility of both gain and loss.
• Fundamental Risk: Risks that are pervasive to the whole economy, also known as "systemic" risk.
• Diversifiable Risks: Risks that can be mitigated by having a broad mix of risk exposures.

Risk Attitudes

• Risk Averse (Avoider): Prefers to avoid risks and seeks security.
• Risk Seeker (Taker): Enjoys taking risks.
• Risk Neutral: Preference lies between risk averse and risk seeker.

Risk Management

Defining Torture in International Human Rights Law

The legal definition of torture in human rights law differs significantly from how the term is commonly used in the media or general conversation.

Article 1 of the United Nations Convention against Torture and Other Cruel, Inhuman or Degrading Treatment or Punishment provides the internationally agreed legal definition:

"Torture means any act by which severe pain or suffering, whether physical or mental, is intentionally inflicted on a person for such purposes as obtaining from him or a third person information or a confession, punishing him for an act he or a third person has committed or is suspected of having committed, or intimidating or coercing him or a third person, or for any reason based

Arguments For and Against Juries

Arguments in Favour of Juries

• They are democratic, ensuring trial by one’s peers.
• They allow for public participation.
• Jurors are not influenced by professional prejudice.
• Juries are a barrier to the enforcement of unpopular laws.
• Juries confer legitimacy on the criminal justice process.

Arguments Against Juries

• Juries are unrepresentative.
• Juries cannot cope with highly complex cases.
• Juries can be influenced by prejudice.
• Juries are too easily persuaded by rhetoric rather than facts.
• Juries may be dominated by a few individuals.
• Juries do not sufficiently know the law.

Different Types of Lawyers in the UK and the US

UK Legal Roles

• Solicitors
• Barristers

US Legal Roles

• Lawyers (attorneys, attorneys-at-law, counsels, counselors,

Main Taxation Principles

(Based on Article 31.1 of the Spanish Constitution)

• Equality
• Economic Capacity
• Generality
• Proportionality (Own the same, pay the same)
• Progressivity (Earn more, higher percentage)
• No Confiscation (Not allowed to pay nearly all; 75% might be too much)
• Legal Reserve (Created by law)

Tax Authorities

(Article 5 of the Spanish General Tax Law)

Encompass all public authorities that:

• Levy taxes
• Impose penalties
• Interpret tax law
• Review tax issues in economic-administrative disputes

Important Concepts in Taxation

• Retroactivity Principle: Tax laws do not benefit from it.
• Analogy: Prohibited to extend terms of taxable events, exemption, or other benefits.
• Abuse or Conflict of Tax Law: Occurs when taxes have been avoided or tax liability reduced

Judicial Review

Definition: Judicial review is the doctrine under which legislative and executive actions are subject to review and invalidation by the judiciary. Specific courts with judicial review power must annul any act of the State that they find incompatible with a higher authority, such as the Constitution. Judicial review differs between countries.

Models:

• United States: No specific courts are designated for judicial review. The concept developed from a case and precedent, with the Supreme Court having the ultimate authority.
• Germany, Belgium, and Spain: These countries have a specialized Constitutional Court to handle judicial review. However, not all cases are constitutional.

Sources of Law

Primary Sources of Law:

1. Constitution
2. Statutes (

International Labour Organization (ILO): History and Mission

• The ILO is the international organization responsible for drawing up and overseeing international labor standards.
• It is the only tripartite United Nations specialized agency that brings together representatives of governments, employers, and workers to jointly shape policies and programs promoting decent work for all.

Key Milestones in ILO History

• 1919 – ILO was created as part of the Treaty of Versailles that ended World War I, to reflect the belief that universal and lasting peace can be accomplished only if it is based on social justice. The ILO was formed in order to press for social reform in employment practices.
• The ILO has made significant contributions to the world of work

Adoption of Treaty Text

The adoption of a treaty text involves setting the text, with states indicating that the text reflects their intent. For multilateral treaties, the text is voted upon and approved, which constitutes the authentication of the treaty. At this stage, a state is not yet obligated but cannot act to deprive the treaty of its effectiveness.

Signature of Treaties

Signature marks the close of the negotiation stage. Generally, signature itself does not create an immediate obligation for a state to be bound by the treaty. However, a distinction must be made:

• Solemn Agreements: These require subsequent ratification for the treaty to become legally binding on the state.
• Agreements in Simplified Form: For these, signature serves two functions:

The Third Level of Regulations

The third level consists of the regulations that dictate the other members, ministers, and ministerial orders. Regulation 50/1997 states that the Crown can never violate the decrees of the council or chairman.

Pure and Proper Regulations

Regulations not issued by the government are parliamentary regulations, which are approved by Parliament. These internal operating regulations have regulatory powers but are not the same as the government; they just share the same name.

Regulations of the General Council of the Judiciary

The General Council of the Judiciary establishes rights, duties, and performance standards for judges and magistrates. There is no separation of powers within the General Judicial Council.

Individuals

Matters Regulated by Statute

Statutory law can regulate and influence any matter, provided it adheres to the criteria of the Constitution and the will of the legislator. However, the power of regulations is more limited, as certain matters are exclusively reserved for statutory law. The scope of a regulation is therefore subordinate, covering what the law permits or has not already established.

Certain subjects are always excluded from regulations. For example, Law 50/1997 of November 27 states that regulations cannot govern matters reserved for statutory law, violate rules of that rank, or classify crimes, misdemeanors, and administrative violations. Furthermore, regulations cannot establish taxes. These areas cannot be defined by regulation...