Business Law (palgrave Law Masters)

Business Law, Second Edition Stephen Judge Macmillan Law Masters Business Law Macmillan Law Masters Series Editor Marise Cremona Basic English Law (2nd edn) W. T. Major Business Law (2nd edn) Stephen Judge Company Law (3rd edn) Janet Dine Constitutional and Administrative Law (2nd edn) John Alder Contract Law (3rd edn) Ewan McKendrick Conveyancing (2nd edn) Priscilla Sarton Criminal Law (2nd edn) Marise Cremona Economic and Social Law and Policy of the European Union Jo Shaw Employment Law (2nd edn) Deborah J. Lockton Environmental Law and Ethics John Alder and David Wilkinson Family Law (2nd edn) Kate Standley Intellectual Property Law Tina Hart and Linda Fazzani Land Law (3rd edn) Kate Green Landlord and Tenant Law (3rd edn) Margaret Wilkie and Godfrey Cole Law of the European Union (2nd edn) Jo Shaw Law of Succession Catherine Rendell Law of Trusts Patrick McLoughlin and Catherine Rendell Legal Method (2nd edn) Ian McLeod Legal Theory Ian McLeod Social Security Law Robert East Torts (2nd edn) Alastair Mullis and Ken Oliphant Business Law Second Edition Stephen Judge Senior Lecturer, London Guildhall University Law Series Editor: Marise Cremona Senior Fellow, Centre for Commercial Law Studies Queen Mary and Westfield College, University of London © Stephen Judge 1995, 1999 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No paragraph of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, 90 Tottenham Court Road, London W1P 9HE. Any person who does any unauthorised act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The author has asserted his right to be identified as the author of this work in accordance with the Copyright, Designs and Patents Act 1988. First edition 1995 Second edition 1999 Published by MACMILLAN PRESS LTD Houndmills, Basingstoke, Hampshire RG21 6XS and London Companies and representatives throughout the world ISBN 0–333–74709–7 A catalogue record for this book is available from the British Library. This book is printed on paper suitable for recycling and made from fully managed and sustained forest sources. 10 08 9 07 8 06 7 05 6 04 5 03 Printed in Great Britain Antony Rowe Ltd Chippenham, Wiltshire 4 02 3 01 2 00 1 99 v Contents Preface xiii Table of Cases xiv Table of Statutes Part I l ESSENTIALS OF THE ENGLISH LEGAL SYSTEM 1 Essentials of the legal system 1.1 The classification of English law 1.2 Legal personality 1.3 The sources of English law 1.4 Statutory interpretation 1.5 European Community law 1.6 The European Convention on Human Rights Recommended further reading Questions 3 3 3 4 11 16 22 24 24 2 Civil dispute resolution 2.1 Tribunals 2.2 The civil courts 2.3 The stages of an action in the High Court 2.4 The st