Discuss the five major "families" of law
What will be an ideal response?
The five major families of law are: a) common law; b) Romano-Germanic civil law; c) Islamic law; d) socialist law; and e) Hindu law. The common law family is most familiar to companies doing business in the United States, England, and 26 former British colonies. The source of law is primarily case law, and decisions rely heavily on case precedents. Countries that follow the Romano-Germanic civil law (for example, France, Germany, and Sweden) organize their legal systems around legal codes and statutory law rather than around cases, regulations, and precedents, as do common law countries. Islamic law is derived from the Shari'a, a code of rules designed to govern the daily lives of all Muslims. Socialist law is based on the teachings of Karl Marx. No private property is recognized. It encourages the collectivization of property and the means of production and seeks to guarantee national security. According to classical Marxist theory, both the law and the state will fade away as people are better educated to socialism and advance toward the ultimate state of pure communism. Hindu law is derived from the Sastras. It governs the behavior in each caste (hereditary categories that restrict members' occupation and social associations). Hindu law is primarily concerned with family matters and succession. It has been codified into India's national legal system.
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When we use breakeven analysis to find a location for a manufacturing facility, we take into account ______.
a. revenues b. profits c. costs d. production quality
The share of the mortgage market held by commercial banks is approximately
A) 50 percent. B) 30 percent. C) 15 percent. D) 5 percent.
In Katzenback v. McClung, concerning race discrimination at a restaurant, the Court held that the Constitution does not allow federal regulation of purely local businesses, even if the goal is socially desirable
a. True b. False Indicate whether the statement is true or false