Bussiness Law
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Business Law IntroductionOrigin of Law:Roman→French→DutchNorman→EnglishSéperation es pouvoirsTrisas politica (Separation of powers)JudiciaryLegislatureExecutive Legal SystemsCivil law (Italy, Spain)Common Law (Australia, England, New-Sealand)Relegion Law (Jewish→Israel, Sharia)Sources of lawWhere can you find law?Books of law (National, Codified)Treaties and conventions (International)Jurisprudence (Precedents) ← Law made by judges (case law)Customary law → When you wanted to buy a cow, you shake hands. If you don’t shake, its no deal.In common law countries is case law more used than codified lawReligion law use, like Islam countries, the Koran in modern interpretations. DistinctionsMain fields and types of law:National and international Private law and public lawPublic law is government involvedNatural persons → PeopleLegal persons → CompaniesBasic Principles Good Faith (Bona Fides) – Bad faith (mala fides)Article 1759 (LSA-CC) Good FaithWe have to apply good faithKnow or reasonably supposed to know(Junky sells a bike for €25,-)Junky[pic 1]Stolen? Good Faith?€25,- (to cheap)Good faith is always 3years for movable things and 20 years for immovable things.Good faith stays always good faith, but bad faith can be changed to good faith.Reasonable and Fairness (Search in powerpoint)Parties that enter a legal relation should act reasonably and fairly towards each other.TerminologyLegal actJuridical act (intended right or oblications)Factual act (Unintended right by human act)Relative right Copehensive right (Only effected by a legal relation between two people or more)Contract (written agreement)Verbal + oral agreements are legally the same of status.Verbal agreements are only hard to prove in court. Multilateral – Unilateral (Search in Powerpoint) Power of Atturney (Search in Powerpoint)
Property Law (PPP2)PropertyComprised of:All thingsPatrimonial rights (copyrights, patent, trade market)Things are Corporeal (Tangible)Patrimonial rights Incorporeal (Intangible)CorporealMovable (personal) → All that is not immovableImmovable (real) → House, landTerminology Personal property is all the property that is left once real property* has been subtractedChattels are items of property other than freehold land, there are two types: chattels real and chattels personalChattels personal are either choses in possession or choses in actionChoses in possession are corporeal movable things (in commercial transactions often referred to as goods)Choses in action are incorporeal property Person can:Own property (ownership)Possess property (possesion)Hold property (Detention)→ Holder/detentor Patrimonial RightsRights that:Are transferable (separate or together with another right)Are intended to produce a tangible benefitHave been acquired in exchange for actual or expected tangible benefit OwnershipCharacteristics of ownership:Ownership of parts/componentsDroit de suiteDroit de préférenceOwner can do what he wants with the productDroit de suite Regardless of any actual or constructive control, the ownership rights that rest on a thing remain intact → The right of ownership follows the thing(product)Droit de preferenceThe owner has priority in case of bankruptcy of a third partyThe owner can separate his property from the bankrupt estate of another.Rights of the OwnerRight to enjoyRight to use the fruits (outcome and benefits of the product)Right to pursue Legal actionsRei vindicatioRight to esablish limited rights (encumbrances)Right to transferThere are numerous limitations Rights accorded to othersLimited rights (usufruct, pledge etc.)Personal rights (rent) LawsFormal lawsLaws of lower legislators Rules of unwritten lawRules of unwritten public lawRules of unwritten private law Multiple ownershipNormal co-ownership (for example in case of inheritance)UnforeseenUnorganised You can – in principle – do whatever you want within the limits of your share Forced or mandatory co-ownership (dividing walls)Not essentially temporaryA certain level of organisationVoluntary co-ownership (on the basis of an agreement)VoluntaryOrganisedAcquisition of OwnershipBy transferBy inheritance (succession) Via accessio (fixture) By commixtio (admixture)Via specificatio Via occupatio By finding it Via prescriptionBy expropriationCommunity of property (marriage)See what methods are relevant when ‘’Who is the owner’’ is asked in the exam. TransferTransfer:Sales agreement (get money in return)Gift (nothing in return)Exchange (another product in return)Inheritance The heirs, in principle, inherit everything.AccessioMovable things that become immovable by attatching it to an immovable thing. (Steal bricks from your neighbour and build a chimney on your house.) The Neighbour can claim damages for compensation of stealing. Movable thing is attached (affixed) to a movable thing that is a prominent object. Earphones plugged into your phone. Phone is a prominent object(most valued object). In this case you are not the owner because you can take the earplugs out of the phone again. There is a certain degree of attachment needed. If there is no prominent object there is co-ownership.4. CommixtioThe mixing of things (grains, liquids) belonging of different owners.