Running head: BUSINESS LAW
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Business law
Name
Date
BUSINESS LAW
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Common law
The common law is usually described as the ancient England law which was on the
customs of the society. It is recognized by many courts in the world and it is usually reinforced.
This law derives its authority from the traditions and culture of the society. The law is usually
aimed at protecting the lives and properties of the members of the public, as it is depicted in their
customs. This law is usually practiced in almost all nations that were colonized by British
(Eisenberg, 1991).
The common law is different from the civil law, as it bases its arguments on the past
judgments, whereas the civil law bases its argument on the laws passed by the legislative organ
of the government. The common law judges usually base their judgment on the previous
judgments made on similar controversial case. They do not rely on the current law or texts while
making their judgment. There decisions are derived from the analysis of law reports, where they
are able to get judgments on similar cases, thus enabling them to make their decisions regarding
case tabled before them. However, the common law judges deal with daily situations, which are
exposed to a lot of changes (Eisenberg, 1991). Because of this, they are forced not to look in the
law reports for the past judgments, as they take into considerations the changes that the society
has gone through. They are thus forced to deal with the situation regarding the current status of
the society.
Sources of American law
The American law is derived from a lot of sources. The common law is one of the
sources of the American laws. In many of the American judicial proceedings, the judges usually
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base their decisions on the common law, especially on matters dealing with social aspects. This
makes the common law to be one of the important sources of the American law. The American
constitution is also one of the major sources of the American law. The constitution stipulates
how the various organs should conduct their activities. It also stipulates how citizens should
conduct themselves in various occasions, in order to ensure that they maintain law and the order.
The constitution contains the jurisdictions and powers of several government offices, at the same
time limiting these powers. Through following the constitution, a person or a government agency
also follows the law. For example, the constitution contains the bill of rights, which ensures that
the rights of every citizen are protected (Watts, 1987).
The legislative arm of the American government is also a major source of the American
laws. Through their sittings, the legislatures usually come up with laws regarding how both the
federal and state governments should be run. They also come up with laws regulating the
activities of the normal people, which are usually aimed at ensuring that harmony is achieved in
The past rulings of the courts also contribute to the American laws. These rulings are
usually integrated into the judicial system by being drafted by the Supreme Court, then being
voted by the legislature (Watts, 1987). If the ruling receives majority number of votes, then they
are incorporated into the American laws.
Importance of precedent to the judicial decision-making process
Precedent plays a very important role when it comes to decisions regarding the judicial
proceedings. This is because, the precedent ensures that there is a procedure which will be
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followed to arrive at the decision. This ensures that there will be regularity in arriving at the
decision, as the judges will have grounds to base their judgment on. The precedent also gives the
judges knowledge on how to handle the case at hand, as they will follow the steps used by the
previous judges to arrive at their decisions (Maidment, 1991).
Equitable and legal remedies
Equitable and legal remedies can be defined as court orders which either directs the
parties to the judicial proceeding to do something, or prohibiting them to do something. The
equitable remedy can be in both monetary and non-monetary form. This occurs when a person is
found guilty of committing a crime, and the court orders him or her to pay for the crime
committed. The remedies might be brought about by the damages brought about by one of the
parties to the contract failing to execute his or her part of the contract. The party that has failed to
execute his or her part of the contract is forced to pay the damages accrued by the other party.
These remedies are mainly aimed at ensuring that justice is achieved (Eisenberg, 1991).
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References
Eisenberg, M. A. (1991). The Nature of the common law.Harvard University Press.
Maidment, R. A. (1991). The judicial response to the New Deal: The US Supreme Court and
economic regulation, 1934-1936. Manchester: Manchester University Press.
Watts, T. J. (1987). Guides to legal research and reference sources in American law: A select
bibliography. Monticello, Ill., USA: Vance Bibliographies.