1. Who is credited with proposing the social contract theory that underpins modern contract law?
2. When applying the legal requirements for company formation, which step must be taken to ensure the company's legal recognition?
3. How do Civil Law and Common Law legal systems primarily differ in their sources and reasoning methods?
Law — definition?
A system of rules recognized and enforced by penalties.
Functions of law — role?
Regulates social interactions, protects rights, maintains order.
Rule of law — principle?
All are subject to and accountable under law.
Legal syllogism — mechanism?
Applying general rules to specific facts.
Importance of law study — reason?
Helps business professionals communicate and make informed decisions.
Legal systems — comparison?
Civil Law relies on statutes; Common Law on case law.
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