Understanding the Law Essay Example | Topics and Well Written Essays - 1750 words

Understanding the Law - Essay Example While the binding principle of judicial precedents applies to ratio decidendi as applied in the original case, obiter dicta do not bind. This means that in cases where a judge is bound to use a precedent, the judge must apply the rules of law that were applied by the former judge as ratio decidendi. Other elements of the precedent case that do not form part of the precedent’s ratio decidendi are not binding (Robertson, 2010, p. 20). Types of judicial precedents Application of judicial precedents defines the types of precedents that have been identified in the judicial system. A judicial precedent can be original, binding, or persuasive. An original precedent is a first establishment of rule of law in cases where no precedent has been laid. This occurs when the facts of the case at hand does not correspond to facts of any other case for which a rule of law has been established in interpretation of the law. The presiding judge therefore establishes a precedent to the case called original precedent. A binding precedent is on the other hand a judicial decision that has already been established in a previous decision and whose application binds a judge. The principle of a binding precedent imputes a judge’s obligation to apply an already established precedent irrespective of the judge’s opinion over the principle of law as was established in the earlier case. This application is based on the rule that decision of a higher court binds judges of lower courts (Robertson, 2010, p.18- 19). Persuasive precedents are however not strictly binding to a judge as the judge has the freedom to either apply the precedent or not. This means that unlike in the case of a binding precedent, application of a persuasive precedent is at the... Understanding the law The paper will explore concepts of the two legal applications. Judicial precedents Judicial precedents, as defined by Robertson, are a source of law that originates from the judicial system. The doctrine of precedents establishes former decisions by judges to form ground for decisions to be made by other judges in future cases. The doctrine is based on the principle that an established rule of law through decisions of judges should remain standing. Robertson argues that the doctrine establishes ground for â€Å"fairness and certainty of law†. The doctrine of judicial precedence is a deviation from the traditionally perceived judicial role of interpretation of the law for implementation. While the primary role of the judiciary is to determine the best meaning in application of law in litigations, the doctrine of judicial precedents offers the judiciary a law making authority. This is because judicial precedents are recognized source of law in which an already established decisi on is to be applied in future cases involving similar facts. Application of judicial precedents however relies on two principles, ratio decidendi and obiter dicta. While the jury limits the powers of the judge in determining the case, the judge ensures that jurors are properly selected to eliminate chances of bias. The above views are therefore completely justified within the concept of democracy, openness, and fairness of the jury process.

Five Drivers of Globalization and the International Forces Research Paper

Five Drivers of Globalization and the International Forces - Research Paper Example According to the standard theory, international trade theory leads to the share of resources being consistent with the corporate advantage. This further leads to specialization thereby enhancing the output. The quick progress in the capital market is because of the globalization. Along with the benefits offered by globalization, there are major concerns related to it. The first concern is related to the fact that globalization leads to a more immoral dispersion of income among the countries and within the countries. The second concern is related to loss of national autonomy and the countries are finding it highly complex to pursue independent domestic policies (Rangarajan, 2006). Dell Corporation has been analyzed for the purpose of this study. Since last 26 years, Dell has been capable of authorizing countries, communities, customers as well as people all over the globe to make use of the technology so that they can realize their dreams. The company tends to value its customers and thus aims at delivering the products and the services according to the needs and the wants of the customers (Dell, 2012). The five main kinds of drivers that are forcing international firms to the globalization of operations are political, technological, market, cost, and competition (Indian Institute of Material Management, 2012). Political Forces There is a trend towards the association and socialization of the global community. Both North American Free Trade Agreement (NAFTA) and the European Union present major marketing opportunities for the companies. If the government can reduce barriers to trade as well as foreign investment and can privatize most of the industries in formerly communist nations then globalization can be fostered (Acemoglu & Yared, 2010). Technological Forces With the progress in computers as well as communication technology ideas information can flow across borders. The small companies are capable of competing all over the globe because of the internet as we ll as communication technology. By making use of the internet for the purpose of business exchanges, Business-to-Business (B2B) transaction is providing major savings. Market Forces When the companies tend to globalize, they become global customers. In order to retain their presence in the global markets and expand the consumer base, organizations endeavor to set their trail towards global shores. When the home market saturates, companies seek to operate globally. Cost Forces The management goal is to make use of the economies of scale so that it can reduce unit cost. It is vital for the companies to globalize the product lines so that it can successively attain economies of scale. Production houses can be located in those countries where the cost of production is observed to be less.