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User:Jukeboksi/BBA studies/Law

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“Law is a system of rules and guidelines which are enforced through social institutions to govern behavior”

“In law particular case interpretations are deduced from the general law.”

~ Teacher on application of laws


Business law

“Talousoikeus on yksityisoikeuden alue, johon kuuluvat markkinaoikeus, maa- ja vesioikeus sekä työoikeus ja ympäristöoikeus. ”

~ Suomenkielinen Wikipedia on talousoikeus

Commercial law, also known as business lawJulkisoikeus, is the body of law that applies to the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising, trade, and sales.It is often considered to be a branch of civil law ( w:fi:Säädösoikeus )and deals with issues of both private law ( w:fi:Yksityisoikeus ) and public law ( w:fi:Julkisoikeus ). ( Wikipedia )

This article outlines commercial law and contains among other things

Types of business entity in a nutshell

A w:business may be one of the following:

All companies are businesses, but not all businesses are companies.

"Incorporated" means it forms a w:legal personality ( w:fi:oikeushenkilö ) of it's own and

the owners are never liable for it's liabilities.

In a non-incorporated ( w:fi:henkilöyhtiö ) there is at least one person who has personal liability for the liabilities of the business. The w:silent partner ( hiljainen yhtiömies ) in a limited partnership does not have liability for the businesses liabilities.
Further information: w:Types of business entities ( Contains list for all types of businesses for all w:locales )
Parent company of w:Lidl is a Stiftung and Lidl Suomi is a limited partnership and the other players, the S-group customer owned cooperative and the K-Group is a PLC ( Kesko Oyj ) with Ltd's owned by the merchant.

Resources

Resources in Finnish / Resurssseja Suomeksi

Business Law classes

Law class week 4

Levels of negligence

  • Minor negligence
  • w:Negligence ( The area of tort law known as negligence involves harm caused by carelessness, not intentional harm. ( Wikipedia )
  • w:Gross negligence is a legal concept which means serious carelessness. ( Wikipedia )
  • Willful intention

w:Corporate law (also called "company" or "corporations" law) is the study of how w:shareholders, directors, w:employees, w:creditors, and other stakeholders such as w:consumers, the w:community and the environment interact with one another. Corporate law is a part of a broader w:companies law (or law of business associations).

Relevant corporate laws in Finland are w:fi:Osakeyhtiölaki for LTD's and w:fi:Suomen arvopaperimarkkinalaki for PLC's.

Non-incorporated businesses include among others w:General partnership ( w:fi:Avoin yhtiö ) and w:Limited partnership ( w:fi:Kommandiittiyhtiö )

Law class week 5

Topics: Compensation law, Product liability

  • Compensation law
  • In law, Damages ( w:fi: )are an award, typically of money, to be paid to a person as compensation for loss or injury;. ( Wikipedia )
  • w:Product liability ( w:fi:Tuotevastuu is the area of law in which manufacturers, distributors, suppliers, retailers, and others who make products available to the public are held responsible for the injuries those products cause. ( Wikipedia )
  • w:Force majeure ( w:fi:Force majeure is a common clause in contracts that essentially frees both parties from liability or obligation when an extraordinary event or circumstance beyond the control of the parties, such as a war, strike, riot, crime, or an event described by the legal term act of God (such as hurricane, flooding, earthquake, volcanic eruption, etc.), prevents one or both parties from fulfilling their obligations under the contract. ( Wikipedia )

Making a contract:

  1. ) Preparatory stage
  2. ) Contract period
  3. ) End of contract
w:Boilerplate (text) is any text that is or can be reused in new contexts or applications without being changed much from the original. ( Wikipedia )

Protecting w:intellectual property( w:fi:Immateriaalioikeus ) :

  1. )A 'patent (/ˈpætənt/ or /ˈpeɪtənt/) ( w:fi:Patentti ) is a form of intellectual property. It consists of a set of w:exclusive rights granted by a w:sovereign state to an inventor or their assignee for a limited period of time, in exchange for the public disclosure of the invention.
  2. ) w:Utility model ( small patent )( w:fi:Hyödyllisyysmalli )
  3. ) A w:trademark ( w:fi:Tavaramerkki ) is a recognizable sign, design or expression which identifies products or services of a particular source from those of others. ( Wikipedia )

Law class week 7

Topics: Contract law ( w:fi:Sopimusoikeus ) deals with w:contracts

  • A w:waiver is the voluntary relinquishment or surrender of some known right or privilege. ( Wikipedia )
  • w:Good faith ( w:fi:Bona fide )- In w:law, bona fides denotes the mental and moral states of honesty and conviction regarding either the truth or the falsity of a proposition, or of a body of opinion; likewise regarding either the rectitude or the depravity of a line of conduct. ( Wikipedia )
  • w:Labour law (also called labor law or employment law) is the body of laws, administrative rulings, and precedents which address the legal rights of, and restrictions on, w:working people and their organizations. ( Wikipedia )
  • In contract law, w:rescission has been defined as the unmaking of a contract between parties.[1] Rescission is the unwinding of a transaction. This is done to bring the parties, as far as possible, back to the position in which they were before they entered into a contract (the w:status quo ante). ( Wikipedia )
  • w:Collective bargaining is a process of negotiations between employers and a group of employees aimed at reaching agreements that regulate working conditions. ( Wikipedia )

Law class week 9

Topics: Contract law continues, marketing and Consumer Law ( redirects to w:Consumer protection ), Companies law

  • w:Articles of association ( w:fi:yhtiöjärjestys ) is a document which, along with the memorandum of association (in cases where the memorandum exists) form the company's constitution, defining the responsibilities of the directors, the kind of business to be undertaken, and the means by which the shareholders exert control over the board of directors. ( Wikipedia )
  • w:Preferred stock (also called preferred shares, preference shares or simply preferreds) is an equity security with properties of both an equity and a debt instrument, and is generally considered a hybrid instrument. ( Wikipedia )
  • w:Convertible bond or a convertible note (a convertible debenture if it has a maturity of greater than 10 years) is a type of bond that the holder can convert into shares of w:common stock in the issuing company or cash of equal value, at an agreed-upon price. ( Definition )

Law class week 10

Topics: w:Company law continues, wrap-up

Law class week 11

Final examination

International Law

“International law is the set of rules generally regarded and accepted as binding in relations between states and between nations. It serves as a framework for the practice of stable and organized international relations. International law differs from state-based legal systems in that it is primarily applicable to countries rather than to private citizens.”

“Private international law concerns relations across different legal jurisdictions between persons, and sometimes also companies, corporations and other legal entities”

“Public international law concerns the structure and conduct of sovereign states; analogous entities, such as the Holy See; and intergovernmental organizations. To a lesser degree, international law also may affect multinational corporations and individuals, an impact increasingly evolving beyond domestic legal interpretation and enforcement.”

Week 44

  • Schools of thought defining the basis of international law: cosmopolitans, positivists and hobbesians.
  • In law, comity specifically refers to legal reciprocity—the principle that one jurisdiction will extend certain courtesies to other nations (or other jurisdictions within the same nation), particularly by recognizing the validity and effect of their executive, legislative, and judicial acts. ( Wikipedia )

A w:supranational union is a type of multi-national organization where negotiated power is delegated to an authority by governments of member states. ( Wikipedia )

Week 45

In Finland you can be made to pay the legal fees of the winning party. In USA you don't have to.

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