Question

Describe the four different types of legal systems with which international businesses must deal in.

Answer 1

Answer:

Common law

Religious law

Civil law

Bureaucratic law

Explanation:

Common law : Simply defined as laws established on the basis of precedents ( decisions from previous court proceedings on related cases). Common laws are referenced when existing laws or statutes aren't enough to determine the outcome of a proceeding.

Civil law: Refers to a comprehensive system of codified rules and principles which adopted as the primary source of law. It is accessible to both citizen and judiciary. Jurist may also make adjustments based on circumstances and social changes.

Religious law : These are laws based on the doctrines of a particular religious institution such as hindu law, islamic sharia which emanates from the sacred text of different religious affiliation.

Bureaucratic law : These are laws passed or made on the principle of rank and hierarchy. They are made by bureaucrats (top level individuals) with or without regard to formal laws. Bureaucratic laws are predominant in communist Communities who have no regards for democracy or formal laws.