MAANDAG Flashcards
(23 cards)
Written laws are .. by nature
abstract
What is the paradox of legal certainty?
It refers to the tension between the principle of legal certainty, which demands clarity and predictability, and the inherent uncertainty in legal systems due to interpretation, abstraction, and evolving societal conditions.
fully transferable and freely transferable
fully: The entire ownership or rights can be passed on.
freely: something can be transferred easily, without restrictions or needing permission.
what happens with the contracts within a company if the ownership of shares changes
when shares are transferred, those contracts stay put, they don’t need to be changed. TIED TO THE COMPANY NOT THE OWNER
If a business doesn’t have its own legal identity (like a corporation does), contracts are in the name of the individual owner(s).
In that case, you can’t just transfer a contract to someone else — you’d need the other party’s permission.
Example: If you’re renting a shop in your name, you can’t just hand over the lease to someone else unless the landlord agrees.
Statutory Provisions
These are default rules set by law.
If two parties (like business partners) don’t make their own rules, then these legal rules automatically apply.
Regulatory Competition
This is about choosing which country or state’s laws to follow when setting up a company.
Businesses often pick a location where the laws are more favorable or flexible.
Lawmakers in different places compete to attract businesses by offering better rules.
Choice of Legal Regime
This means a company can choose which country’s or state’s laws will govern how it operates.
Rule of Incorporation
A company can pick any state’s laws, no matter where it actually does business.
Common in places like the US and EU.
Real Seat Doctrine
A company must follow the laws of the place where its main business activities happen.
It has to incorporate in the country where it actually “lives” and works.
contract of service
a traditional employment contract
I work for the company
contract for service
This is a contract for someone who is not an employee, but is hired to do a specific job or task.
The company pays me to do a job, but I run my own show
The employment-at-will doctrine
- You can be fired at any time, for almost any reason (as long as it’s not illegal).
- No need for a reason, warning, or long process.
- Very flexible, but not secure for the employee.
- you can also quit whenever you want
Indefinite contract approach
Once you’re hired, you stay until there’s a valid reason to let you go (like poor performance, company downsizing, etc.).
The employer needs to follow legal steps to fire you.
Much more job security, but less flexibility for the employer.
EUROPE
arguments FOR minimum wage
- Minimum wage pushes companies to work smarter by using better tools or processes instead of paying workers to do simple, low-value tasks.
- A minimum wage protects workers from being taken advantage of.
- This extra spending boosts businesses and helps the whole economy grow
arguments AGAINST minimum wage
- Paying more than the job is worth
- increased unemployment: Since hiring costs more, companies might hire fewer people, or cut jobs altogether.
- To cover the higher wages, companies may raise the prices of their products or services.
This can lead to inflation (overall price increases), which slows economic growth.
how does it work with minimum wage in Norway, Sweden, Finland, Denmark and Iceland
no minimum wage fixed by law, agreed upon per sector
Sustainable Development Goals
address challenges like poverty, inequality, and climate change, not just focused on profit making
Sustainability is defined across three dimensions
environmental, economic and social
Corporate Social Responsibility
voluntary self-regulation model where companies contribute to social causes
in the future focus on 4 things
*Ethical leadership
* Conscious consumerism
* Sustainable systems
* Social and ecological justice
