com law 1 - COMMERCIAL LAW CHAPTER 1 THE AUSTRALIAN LEGAL...

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COMMERCIAL LAW CHAPTER 1 THE AUSTRALIAN LEGAL SYSTEM Rule of law means that the laws of the country apply to everyone , including the government, that the laws apply equally, and that they are predictable . NO one should be above the law. The laws shouldnt discriminate in favour of one group of citizens. The law is not arbitrary . Law must be fairly imposed and everyone should have an fair access to an independent judicial system. Rule of law ensures a system of stable rules which enables businesses to plan for future. It enables risk and uncertainty to be managed. Law is any rule that court of law will enforce as they are agreed by people that are setting conduct for business and people. There are 2 sources that ve the legal capability to provide legally enforceable rules: parlaiment and courts PARLIAMENT- Statutory law In australia, power to make binding laws is divided between - the commonwealth(federal) parliament - the various state parliaments . The relationship between the commonwealth and the states of autsralia is governed by
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com law 1 - COMMERCIAL LAW CHAPTER 1 THE AUSTRALIAN LEGAL...

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