Business law Essay Example | Topics and Well Written Essays - 1500 words - 14

Business law - Essay Example In Saudi Arabia, supreme religious councils order how Islamic law should be applied and have authority over legislation. On the other hand, the IUS law is derived from, statutory law, common law, court rules, administrative law, and constitutional law. Statutes provide enactments of legislative bodies of the US and are more specific in dealing with issues than the constitution. Common law, sometimes called case law provides laws or decisions by courts in personal cases. The US’ court system consists of judicial branches of the state and federal governments charged with the interpretation and application of the law. The system is divided into two administrative split systems, the state and the federal, each acting as independent of the legislative and executive branch. It is a dual court system inherited from the colonial period. In comparison, the court system of Saudi Arabia or the Sharia court system includes the basic judiciary of the nation and its lawyers and judges make up the ulema, which is the country’s religious leadership. Besides, there are extra-sharia state tribunals that handle conflicts related to particular royal decrees. The final appeal from both the government tribunals and sharia courts is to the king. All tribunals and courts follow sharia rules of procedure and evidence. However, this system has been criticized for being arcane, slow, and lack of some protection of justice and of being unable of dealing with wor ld issues. The court system in Saudi Arabia has no jury trials and their courts consider few formalities. In the United States, a right to appeal is guaranteed by the statute or an underlying legal or constitutional principle. An appellate court must listen to the appeal. The appeal by permission or leave needs the appellant to get a leave to appeal. In situations like this, the appellate court and the lower court may refuse or grant the appellant’s command to appeal the decision of the

Macroeconomic Performance of Canada during the Recent Crisis Assignment

Macroeconomic Performance of Canada during the Recent Crisis - Assignment Example Some countries were affected immensely while others were affected less. For instance, China was never affected as Australia (Organization for Economic Co-Operation†¦, 2006; Pg. 132). The Chinese economic growth never dropped below six percent while on the other hand, Australian economy was adversely affected up to a point that it experiences no growth in its economy for the whole quarter. Other economies including Mexico, Japan, and the United Kingdom had their annual GDPs contracting by between 5 and 10 percent per quarter a phenomenon that lasted between and seven quarters consecutively (Daudelin and Schwanen, 2008; Pg. 103). Notably, Canada also was not affected greatly be the recent global economic recession; therefore, this paper aims at analyzing whether its management during this economic trying times was due to its effective economic policies or just a mare luck. Introduction Numerous research works have since been conducted on the 20060 to 2011 global economic effect an d recovery of these economies from such crisis. Most reports from these research works indicate that economies that performed better despite the effects of global economic crisis have affective capitalized banking sectors, current account surplus, low loan to deposit rations, low growth rates and levels of credit to GDP private sectors, and high foreign exchange reserves (Piersanti, 2012; Pg. 44). Therefore, it appropriate to note that the economies that managed to move from the economic crises that were facilitated by global economic crisis had efficient and adversely effective policy decisions. Moreover, their financial crises were well managed by their institutions that reduced the vulnerability of these economies’ to the financial crisis. Canada managed the global economic crisis and its economic developments despite the crisis were reflected on its sustained economic growth that was reflected mainly on the domestic spending and its continued economic growth. Additionally , it stemmed from the debts of the debt crisis affecting the euro zone sovereign. Numerous factors are preempted to have helped Canada through the global economic crisis. Some of the postulated factors include the federal fiscal plans that favored low borrowing costs; thus, enhancing the market credibility (Organization for Economic Co-Operation†¦, 2006; Pg. 78). The Canadian banking system was and has remained sound and effective that it never required the taxpayers to bail it out during the crisis. Canada has also become one of the strong merging economies that most of the world economies shifted their purchasing power towards thereby stabilizing its economy. Despite these measures, the Canadian economy was slightly affected by global financial crisis. For instance, the crisis threatened its financial market by lowering business confidence among investors (Daudelin and Schwanen, 2008; Pg. 151). This lowered the interest rates thereby increasing the mortgage debts and increasi ng housing prices. However, same financial effect or effects never affected Canada as an economy but affected some parts or cities with Canada. Additionally, Canada for long time has enjoyed credible policies and strong institutions. Moreover, for many years, the Canadian economy has been pegged on capital input and increasing labor. The multi factor productivity growth has declined and weakened further for the decades. Canada has also registered poor R & D and partnering rates. Therefore, as means of curbing these problems, Canada opted increase its innovative measures