Introduction

Question 1

Business Law

Answer 1

in a Danish legal context, it is a term denoting the legal rules of particular relevance to the exercise of business enterprise

A set of legal rules governing the legal relationships of business entities.

Question 2

Character of the common interests

Answer 2

underlying the legal rules as they are manifested (e.g. legislation), i.e. to the delimitation of such interests into public or private interests

Question 3

Business Regulating Law

Answer 3

Deals with the regulation of business relationships that are governed by immediate public interests

Question 4

Property Law

Answer 4

deals with the regulation of relationships between citizens respectively and that area is therefore characterized by immediate private interests

In a simplified term, the property law deals with the law relating to assignable rights - typically rights of an economic value - e.g. property rights

Question 5

The concept of legal rule

Answer 5

Rule - defined as a “general linguistic statement” prescribing the appropriate conduct in certain situations or contexts of life

Question 6

The legal system

Answer 6

• Legal system (order) - all the rules of law in force at a certain time in a certain community
• The prime function of the legal system is to govern conduct
  o The aim is to lead human activities into certain directions under the common presumption - enhanced by the possibilities of compulsion just referred to - that the citizens act in accordance with the rules
• Another function is to solve conflicts

Question 7

Various types of legal rule

Answer 7

• Obligation Rule - the function is to direct conduct control
• Competence Rules - rules, which may briefly be described as stating “who can do what and how”

Question 8

Written and unwritten law

Answer 8

• Written Law - may be identified in certain texts
• Unwritten Law - may be identified from the case law of court decisions
• The distinction between written and unwritten law mainly coincides with a distinction between the rules of law according to their origin

Question 9

The hierarchy of rules

Answer 9

Legal rules stand in a relationship to each other that defines what rule is given priority in any given situation. Generally, a rule of higher rank is given priority to a rule of lower rank.

Question 10

Non-mandatory and mandatory rules

Answer 10

• Non-mandatory rules - where the stated rule is only applicable where the parties have not agreed something else between them (criminal, tax)
  o They are especially common within the branch of property law relating to contracts
  o The purpose is to offer arrangements to contracting parties in specific contract relationships which they may apply in the absence of agreement to the contrary
• Mandatory rules - rules which cannot be dispensed with or deviated from by agreement - B2B
• Protective mandatory rules - B2C

Question 11

The legal decision

Answer 11

The thought process leading the decision maker to the legal decision will almost always be characterized by a balancing or assessment of the factual and legal circumstances involved