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International business law: EMBA-BS Y3 2023-24
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Definition of law Quiz
1.
What is private law?
1
Rules that govern private persons and their activities
Rules that govern public persons and their activities
2.
What is positive law?
1
The set of rules that apply at a certain time in a defined territory
Superior and universal theoretical norms that apply to all human beings
3.
What distinguishes law from custom?
1
Custom refers to habits that are not always legally sanctioned
Custom is general, impersonal and compulsory, whereas law may vary locally based on habits
Law is in principle compulsory and sanctions are incurred in case of non-compliance with the imperative rules
