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Judicial economy or procedural economy [1] [2] [3] is the principle that the limited resources of the legal system or a given court should be conserved by the refusal to decide one or more claims raised in a case.
In the field of law and economics, the English rule is a rule controlling assessment of lawyers' fees arising out of litigation.The English rule provides that the party that loses in court pays the other party's legal costs.
Ordinary words are given their ordinary meaning, technical terms are given their technical meaning, and local, cultural terms are recognized as applicable. The plain meaning rule is the mechanism that prevents courts from taking sides in legislative or political issues. [ 2 ]
Like all terms implied by courts, customs can be excluded by express terms or if they are inconsistent with a contract's nature. [8] Lord Devlin in Kum v Wah Tat Bank Ltd. [9] summed up the policy of the law: Universality, as a requirement of custom, raises not a question of law but a question of fact.
Judicial interpretation is the way in which the judiciary construes the law, particularly constitutional documents, legislation and frequently used vocabulary.This is an important issue in some common law jurisdictions such as the United States, Australia and Canada, because the supreme courts of those nations can overturn laws made by their legislatures via a process called judicial review.
The historical antecedents of law and economics can be traced back to the classical economists, who are credited with the foundations of modern economic thought.As early as the 18th century, Adam Smith discussed the economic effects of mercantilist legislation; later, David Ricardo opposed the British Corn Laws on the grounds that they hindered agricultural productivity; and Frédéric Bastiat ...
This means that if a later law and an earlier law are potentially—but not necessarily—in conflict, courts will adopt the reading that does not result in an implied repeal of the earlier statute. Lawmaking bodies usually need to be explicit if they intend to repeal an earlier law.
The UK Sale of Goods Act 1979 and the US Uniform Commercial Code are examples of codified common law commercial principles. Admiralty law and the sea law lay a basic framework for free trade and commerce across the world's oceans and seas, where outside of a country's zone of control. Shipping companies operate through ordinary principles of ...