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LEGAL SYSTEMS

LEGAL SYSTEMS. COMMON LAW CIVIL LAW THEOCRATIC LAW. COMMON LAW. A system based on tradition, precedent, custom and usage, and interpretation by the courts. CIVIL LAW. A system based on a detailed set of laws organized into legal code. THEOCRATIC LAW.

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LEGAL SYSTEMS

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  1. LEGAL SYSTEMS • COMMON LAW • CIVIL LAW • THEOCRATIC LAW

  2. COMMON LAW • A system based on tradition, precedent, custom and usage, and interpretation by the courts

  3. CIVIL LAW • A system based on a detailed set of laws organized into legal code

  4. THEOCRATIC LAW • A system based on religious doctrine, precepts, and beliefs

  5. ISLAMIC LAW-SHARIAH • The Koran • The Sunnah • The writings of Islamic scholars • The consensus of Muslim legal communities

  6. IMPACT of LAWS • National Laws affect local business for home & host country • National Laws affect cross-border business • International treaties affect some cross-border transactions

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