CORPORATE & BUSINESS LAW

Prepared by Manoj Suranga

ACCA LW (ENG) SYLLUBUS
English Legal System

Law of Obligations ( Contract Law and Negligence)

Employment Law

Formation and Operations of Business Organizations

o Agency Law
o Types of Business Organizations
o Capital and Financing of Companies
o Management & Administration of Companies
o Insolvency Law

Corporate Fraudulent & Criminal Behavior

CBE Exam Structure
Exam Name:
Corporate and Business Law (LW-ENG)
Time allowed:
2 hours
Pass Mark:
50%

This exam contains 2 sections:

Section A:
45 questions, each worth 1 or 2 marks
70 marks in total.
Section B:
5 questions, each worth 6 marks
30 marks in total.
THE ENGLISH LEGAL SYSTEM
What is Law?
• The principles and regulations established in a society/
community
• By authorities (Government or Court system)
• Applicable to the people
• In the form of legislation or of custom and policies enforced by
judicial decisions
What is Law?

Law is the enforceable body of rules that govern any society.

The Framework of social control can be viewed as having two aspects:

1. Formal control mechanisms (Law)
Law provides a structure for dealing with and resolving disputes that
may arise, as well as providing some deterrent (limit/ discourage) to
those wishing to disrupt social order.
2. Informal control mechanisms (Ethical and Moral Guidance)
These are norms or behavioral expectations that society has developed
over time through its culture.
Law- making role of judges
Judges make law when deciding both criminal and civil cases in two
main ways:
1. Interpreting statues
On occasions the meaning of a statute will be unclear and a judge will
be called upon in a case to interpret it.

2. Developing the common law

Courts develop the law through decisions in cases.
Doctrine of binding precedent
The doctrine of binding precedent means that in deciding a case an
English judge is bound to apply law decided by earlier similar cases
were heard in a court of superior statutes (and sometimes one of equal
status and have involved similar facts in that area of the law.

The doctrine of judicial precedent is also known as ‘stare decisis’

meaning to stand by decisions.
Characteristics of English Law
• Continuity
• Judges may make laws
• Uncodified (not in a single document; should follow different
literatures)
• Adversarial system of trial (two advocates represent their
parties’ position)
• Doctrine of binding precedent
• Parliament makes law
 Legal Terminology
• Offence
An offence is a crime that breaks a particular law and requires a particular 
punishment.

• Prosecution
Prosecution is the action of charging someone with a crime and putting them on
trial.

• Prosecutor
a prosecutor is a lawyer , attorney or official who brings charges against
someone or tries to prove in a trial that they are guilty.
Legal Terminology
• Defendant
A defendant is a person who has been accused of breaking the law and is
being tried in court.

• Plaintiff
A plaintiff is the person or entity initiating a lawsuit by filing a complaint in
a court of law.

• Claimant
A claimant is someone either bringing a case to court or the person who
has been injured and who would be making a claim for their injuries.
The word “plaintiff” isn't used until there is a lawsuit started.
Legal Terminology
• Trial
a formal examination of evidence by a judge, typically before a jury, in
order to decide guilt in a case of criminal or civil proceedings.

• Conviction (Sentence/Judgement)
a formal declaration by the verdict of a jury or the decision of a judge in
a court of law that someone is guilty of a criminal offence.

• Acquittal
a judgement or verdict that a person is not guilty of the crime with
which they have been charged.