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Business Law - Intro
Business Law - Intro
Characteristics of law
1. It is a rule conduct - meaning it states what is should be done and what should not be
done.
3. Administrative or Executive Orders, Regulations, and Rulings these are those issued by
the executive department performing legislative. They are usually intended to explain or
clarify the law and carry into e ect its general provisions.
4. Judicial Decision or Jurisprudence these are issued by the judiciary particularly the
Supreme Court. These are interpretations of the Supreme Court of the Constitution, laws.
The Supreme Court is the proper forum to determine the validity of a law, admin or
executive order, and regulations.
5. Custom It consists of those habits and practices which through long and uninterrupted
usage have become acknowledged and approved by society as binding rules of conduct. It
has the force of law when recognized and enforced by the state. It is simply the frequent
and free repetition of acts concerning the same thing.
Example: Where no de nite compensation is stipulated, the compensation to be paid may
be ascertained from customs and usages of the place.
6. Other sources. These came from principles of justice and equity, decisions of foreign
tribunals like U.S. decisions, and opinion of text writers.
Organization of Courts
Regular Courts
1. First Level Courts - Municipal Trial Courts in Cities, and Municipalities, Metropolitan Trial
Courts in Metropolitan areas establish by law, Municipal Circuit Trial Courts (Roxas).
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