Introduction to Law

JOIN KHALID AZIZ ECONOMICS OF ICMAP, ICAP, MA-ECONOMICS, B.COM. FINANCIAL ACCOUNTING OF ICMAP STAGE 1,3,4 ICAP MODULE B, B.COM, BBA, MBA & PIPFA. COST ACCOUNTING OF ICMAP STAGE 2,3 ICAP MODULE D, BBA, MBA & PIPFA. CONTACT: 0322-3385752 0312-2302870 R-1173,ALNOOR SOCIETY, BLOCK 19,F.B.AREA, KARACHI, PAKISTAN

Topics Covered A. Nature of Law B. Classification of Law C. Sources of Law D. Legal Analysis

Nature of Law Definition of Law—a rule of civil conduct prescribed by the supreme power in a state, commanding what is right, and prohibiting what is wrong” (Blackstone) Functions of Law — to maintain stability in the social, political, and economic system through dispute resolution, protection of property, and the preservation of the state, while simultaneously permitting ordered change

Nature of Law (cont’d) Legal Sanctions — are means by which the law enforces the decisions of the courts Law and Morals — are different but overlapping; law provides sanctions, while morals do not Law and Justice — are separate and distinct concepts; justice is the fair, equitable, and impartial treatment of competing interests with due regard for the common good

Law and Morals MORALS “You should not silently stand by and watch a blind man walk off a cliff.” LAW “You must drive on the right side of the road.” BOTH “Thou shall not kill.”

Classification of Law Substantive and Procedural Law Substantive— law creating rights and duties Procedural— rules for enforcing substantive law Public and Private Law Public— law dealing with the relationship between government and individuals Private— law governing the relationships among individuals and legal entities Civil and Criminal Law Civil— law dealing with rights and duties the violation of which constitutes a wrong against an individual or other legal entity Criminal— law establishing duties which, if violated, constitute a wrong against the entire community

Classification of Law OR Public Law Substantive Law Private Law Constitutional Law Criminal Law Administrative Law Substantive Law Private Law Torts Contracts -- Sales Commercial Paper Agency Partnerships Corporations Property Procedural Law OR Methods of enforcement (courts)

Comparison of Civil & Criminal Law Civil Law Criminal Law Commencement of Aggrieved individual State or federal government action (plaintiff) sues prosecutes Purpose Compensation Punishment Deterrence Deterrence Rehabilitation Preservation of peace Burden of proof Preponderance of the Beyond a reasonable doubt evidence Outcome Liable/Not liable Guilty/Not guilty Monetary damages Capital punishment Principal sanctions Equitable remedies Imprisonment Fines

Sources of Law Constitutional Law -- fundamental law of a government establishing its powers and limitations Judicial Law -- Common Law body of law developed by the courts and Equity based upon principles distinct from common law and providing remedies not available at law Legislative Law -- statutes adopted by legislative bodies includes Treaties and Executive Orders  Administrative Law -- rules, regulations, orders, and decisions made by administrative agencies¤

Federal Administrative Law Hierarchy of Law U.S. Constitution Treaties Federal Statutes Federal Administrative Law Federal Common Law State Constitution State Statutes State Administrative Law State Common Law

JOIN KHALID AZIZ ECONOMICS OF ICMAP, ICAP, MA-ECONOMICS, B.COM. FINANCIAL ACCOUNTING OF ICMAP STAGE 1,3,4 ICAP MODULE B, B.COM, BBA, MBA & PIPFA. COST ACCOUNTING OF ICMAP STAGE 2,3 ICAP MODULE D, BBA, MBA & PIPFA. CONTACT: 0322-3385752 0312-2302870 R-1173,ALNOOR SOCIETY, BLOCK 19,F.B.AREA, KARACHI, PAKISTAN