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Additional info for ACCA - F4 Corporate and Business Law (GLO): Study Text
Panels consist of three (possibly five) experts from different countries, who examine the evidence and decide who is right and who is wrong. The panel's report is passed to the Dispute Settlement Body, which can only reject the report by consensus. Panelists for each case are chosen from a permanent list of well-qualified candidates, or from elsewhere, but they serve in their individual capacities and cannot receive instructions from any government. Any appeal is heard by three members of a permanent seven-member Appellate Body set up by the Dispute Settlement Body and broadly representing the range of WTO membership.
The majority of the Muslim world follows the other four schools, which together, are termed Sunni (hence 'Sunni Muslims'). In Pakistan, the generally preferred school is Hanafi. 1 Constitution Many Muslim countries have a written constitution. Both the countries we are using as exemplar of the system, Iran and Pakistan, have such a constitution. The Iranian Constitution upholds the role of Sharia law in Iran, as can be seen from Article 2 of the Constitution. Part A Essential elements of legal systems ~ 1: Economic, political and legal systems 19 Case Study Iranian Constitution, Article 2 The Islamic Republic is a system based on belief in: 1 The One God (as stated in the phrase 'There is no god except Allah'), His exclusive sovereignty and the right to legislate, and the necessity of submission to His commands 2 Divine revelation and its fundamental role in setting forth the laws 3 The return to God in the Hereafter, and the constructive role of this belief in the course of man's ascent towards God 4 The justice of God in creation and legislation 5 Continuous leadership (imamah) and perpetual guidance, and its fundamental role in ensuring the uninterrupted process of the revolution of Islam 6 The exalted dignity and value of man, and his freedom coupled with responsibility before God; in which equity, justice, political, economic, social, and cultural independence, and national solidarity are secured by recourse to: x Continuous ijtihad of the fuqaha' possessing necessary qualifications, exercised on the basis of the Qur'an and the Sunnah of the Ma'sumun, upon all of whom be peace x Sciences and arts and the most advanced results of human experience, together with the effort to advance them further x Negation of all forms of oppression, both the infliction of and the submission to it, and of dominance, both its imposition and its acceptance.
5 A. Law made in Parliament 6 (1) A precedent must be based on a decision of law, not of fact (2) It must form part of the ratio decidendi of the case (3) The material facts of each case must be the same (4) The preceding court must have had a superior status to the court using the precedent 7 In the civil law tradition, codification is the process of putting all the law on a specific area together in a code. 8 True. Simple language is used so all members of the public can understand it. 9 B. The Sunnah must not add law on a matter mentioned in the Quran.