I'm going to start a course on English common law soon. It's going to be required for my next PhD.
Law is a fascinating creature. It distinguishes countries. It defines societies. It very closely tracks the history of a country and actually has immense implications on the temper of a country.
At this moment, the world has common law (which we are familiar with) civil law which is in most other countries outside the sharia law driven Muslim countries. You know my views on the sharia law countries. But slowly these three systems are going to converge. Look at the financial markets which very easily handle all three systems easily.
Economics and economic development hugely depends upon the kind of legal system you have. You can count yourself lucky that you're born and brought up and will work in a common law society son where there's more stability and predictability. Easier to love and live and do business and be happy!
Anyway. Should be fun.
Common law - Wikipedia, the free encyclopedia
For other uses, see Common law (disambiguation).
Legal systems of the world[original research?]
Bijuridical/mixed (civil and common law)
Common law (also known as case law or precedent) is law developed byjudges through decisions of courts and similar tribunals, as opposed to statutesadopted through the legislative process or regulations issued by the executive branch.
A "common law system" is a legal system that gives great precedential weight to common law, on the principle that it is unfair to treat similar facts differently on different occasions. The body of precedent is called "common law" and it binds future decisions. In cases where the parties disagree on what the law is, a common law court looks to past precedential decisions of relevant courts. If a similar dispute has been resolved in the past, the court is usuallybound to follow the reasoning used in the prior decision (this principle is known as stare decisis). If, however, the court finds that the current dispute is fundamentally distinct from all previous cases (called a "matter of first impression"), judges have the authority and duty to make law by creatingprecedent. Thereafter, the new decision becomes precedent, and will bind future courts.