LAW 520: Business Law and Ethics

LAW 520: Business Law and Ethics
*Business: Busy with legal, ethical and profitable work where there is exchange of products
either tangible goods or intangible services or both. Present days addition is: business must
be environment friendly.
*So whatever we do good, in whatever profession we are, everything is business.
*Types or Forms: Sole Proprietorship – One owner with trade license. Trade Organization
Ordinance 1961.
Partnership – Bank 2 to 10, non- bank 2 to 20, the Partnership Act 1932. Registration at
Registrar of Joint Stock Companies and Firms (RJSC).
Corporate or Company – Private 2 to 50, public 7 to infinity, the Companies Act 1994.
Registration at RJSC and Stock Exchange(s).
Cooperatives – Primary minimum 20, central 10 primaries, national 10 centrals. The
Cooperative Societies Act 2001.
Franchise – One franchisor and unlimited franchisees, fixed amount payment by
franchisees to franchisor, franchisor support to franchisees as per license agreement. The
Reciprocity Act 1943.
Others/ Not-for-profit – Government organizations (GO), NGO, IGO (UN), INGO, Trust,
Societies etc. The Societies Registration Act 1860, Private Universities Act 2010, the Police
Act 1861, the Army Act 1952, Jahangirnagar University Act 1973, etc.
The differences between them are:
*Legal standards are based on written law, while ethical standards are based on human
perception of rights and wrongs.
*Something can be legal but not ethical and vice versa, something ethical but not legal.
*Laws are acts, codes, ordinances made by legislative body i.e., parliament of a country.
Ministries and departments make rules, regulations, instructions to elaborate acts, codes
and ordinances those are also laws. Ethics are not usually written, these are societal norms
and practices based on religion and culture.
*Law study is jurisprudence whereas ethics and aesthetics together known as axiology.
*If law is broken then there will be prescribed course of punishment, but usually no such
punishment for ignoring ethics.
Three organs of a country:

*Legislative those are democratically elected representatives responsible to make laws
participating in parliament. A parliament may be unicameral like ours or bicameral like that
of India.
*Executive government and all others responsible to execute and follow laws to run and lead
a country towards development.
*Judiciary judges and legal practitioners who are responsible to punish the law breakers
through punishments in the courts.
The Constitution of Bangladesh
•Part I: The Republic •Part VII: Elections
•Part II: Fundamental principles of •Part VIII: The Comptroller and
state policy Auditor General
•Part III: Fundamental rights •Part IX: The Services of Bangladesh
•Part IV: The Executive • Chapter I:Services
• Chapter I: The President • Chapter II: Public Service
• Chapter II: The Prime Commissions
Minister and Cabinet •Part X:Amendment of the
• Chapter III:Local Government Constitution
• Chapter IV: Defense Services •Part XI: Miscellaneous
• Chapter V:Attorney General
•Part V: The Legislature
• Chapter I:Parliament
• Chapter II: Legislative and
Financial Procedures
• Chapter III: Ordinance
making powers
•Part VI: The Judiciary
• Chapter I:The Supreme Court
• Chapter II: Subordinate
Courts
• Chapter III: Administrative
tribunals
*The Supreme Court of Bangladesh is the highest court of law in
Bangladesh. It is composed of the High Court Division and the
Appellate Division.
*It was created by Part VI Chapter I of the Constitution of Bangladesh

adopted in 1972.
*This is also the office of the Chief Justice, Appellate Division Justices,
and High Court Division Justices of Bangladesh.
*As of January 2019 there are 7 Justices in Appellate Division and 92

(74 are permanent and 18 are additional) in High Court Division.
*The High Court Division of the Supreme court consists of Civil

courts, Criminal courts and some Special courts and tribunals.
Civil Courts
Five civil courts exist in this hierarchy:
District Judge Court
Additional District Judge Court
Joint District Judge Court
Senior Assistant Judge Court
Assistant Judge Court
Criminal Courts
Two types of Criminal Courts exist in this hierarchy
District Sessions Courts
District Session Judge Court
Additional District Session Judge Court
Joint District Session Judge Court
District Magistrate Court
Chief Judicial Magistrate Court
Additional Chief Judicial Magistrate Court
Senior Judicial Magistrate Court
Judicial Magistrate Court
City Criminal Courts:
Metropolitan Sessions Courts
Metropolitan Session Judge Court

Additional Metropolitan Session Judge Court
Joint Metropolitan Session Judge Court
Metropolitan Magistrates Courts
Chief Metropolitan Magistrate Court

Additional Chief Metropolitan Magistrate Court
Metropolitan Magistrate Court
Specialized Courts and Tribunals
Constitutional Court
None
Administrative Court
Administrative Tribunals
Finance Court
Money Loan Courts
Insolvency Courts
Income Tax Appellate Tribunals
Special Tribunal for Share Market Scam
Labour Court
Labour Courts
Court of Justice
International Crimes Tribunal
Social Court
Druto Bichar Tribunal
Bangladesh Cyber Tribunal
International Law
Bangladesh is a state party to the following international treaties concerning human rights.
Bangladesh can in theory be held liable for its performance in the fields of these treaties.
International Covenant on Civil and Political Rights

International Covenant on Economic, Social and Cultural Rights
Convention against Torture and Other Cruel, Inhuman or Degrading Treatment or
Punishment
International Convention on the Elimination of All Forms of Racial Discrimination
Convention on the Prevention and Punishment of the Crime of Genocide
Rome Statute of the International Criminal Court
Convention on the Rights of the Child
Convention on Consent to Marriage, Minimum Age for Marriage and Registration of
Marriages
Convention on the Rights of Persons with Disabilities
Convention on the Elimination of All Forms of Discrimination against Women
Convention on the Political Rights of Women
International Law
*International law is the set of rules generally regarded and
accepted in relations between nations.
*It serves as a framework for the practice of stable and organized
international relations.
*International law differs from state-based legal systems in that it
is primarily applicable to countries rather than to individual
citizens.
*National law may become international law when treaties permit
national jurisdiction to supranational tribunals such as the
European Court of Human Rights or the International Criminal
Court.
*Treaties such as the Geneva Conventions may require national
law to conform to respective parts.
A typical business organization may consist of the following main
departments or functions:
*Production and Operation (POM) for making product and providing service.
*Research and Development (R&D) may be separate or part of POM.
*Purchasing or Procurement which is also known as SCM (Supply Chain Management).
*Marketing including the Selling function.
*Finance.
*Human Resource Management (HRM) which is also known as Personnel.
*Accounting.
Commercial law (or business law) is the body of law which governs business and
commerce and is often considered to be a branch of civil law and deals both with issues
of private law and public law. Commercial law regulates business or corporate contracts,
hiring practices, and the manufacture and sales of consumer goods and service.
Law is the set of rules or norms of conduct which forbid, permit or mandate specified
actions, govern official resolution of conflict, and define relationships among people and
organizations.
Types of Laws and Legal Systems
Private law is that part of a civil law legal system which is part of the jus commune that
involves relationships between individuals, such as the law of contracts or torts (as it is
called in the common law), and the law of obligations (as it is called in civil legal systems).
Public law deals with relationships between both natural and artificial persons (companies)
and the state, including regulatory statutes, penal law and other law that affects the public
order. Blasphemy law implementation by Special Power Act 1974 etc.
Private law involves interactions between private citizens, whereas public law involves
interrelations between the state and the general population.
Civil law legal system, is a legal system originating in Europe, intellectualized within the
framework of Roman law, the main feature of which is that its core principles codified into
a referable system which serves as the primary source of law, Corpus Juris Civilis.
Common law legal system (also known as judicial precedent or judge-made law, or case
law system) is that body of law derived from judicial decisions of courts and similar
tribunals. The defining characteristic of common law is that it arises as precedent.
Civil law in common law legal systems such as United Kingdom, the law of ours and
the law of the United States, the term refers to non-criminal law. Emphasis is on dispute
resolution and victim compensation, not on punishment or rehabilitation of criminal law.
The Evidence Act 1872 Environment Control Act 1995
The Contract Act 1872 The Indemnity Repeal Act 1996
Negotiable Instruments Act 1881 The Bankruptcy Act 1997
Criminal Procedure Code 1898 Upazilla Parishad Act 1998
Code of Civil Procedure 1908 Zilla Parishad Act 2000
Patents and Design Act 1911 The Copyright Act 2000
The Official Secrets Act 1923 The Arbitration Act 2001
The Succession Act 1925 Anticorruption Commi Act 2004
Sale of Goods Act 1930 Village Courts Act 2006
The Drugs Act 1940 The ICT Act 2006
Foreign Exchange Act 1947 Right to Information Act 2009
The Civil Defence Act 1952 The Trademark Act 2009
Building Construction Act 1952 The Insurance Act 2010
Muslim Family Ordinance 1961 Money Laundering Ordinance 2012
The Customs Act 1969 Disaster Management Act 2012
Insurance Corporations Act 1973 Investment Corporation Act 2014
Bengali Language Intro Act 1987 Bio Diversity Act 2017
House Rent Control Act 1991 The Meteorological Act 2018
Value Added Tax (VAT) Act 1991 BSTI Act 2018

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LAW 520: Business Law and Ethics

Three organs of a country:

*It was created by Part VI Chapter I of the Constitution of Bangladesh

*As of January 2019 there are 7 Justices in Appellate Division and 92

*The High Court Division of the Supreme court consists of Civil

City Criminal Courts:

Metropolitan Sessions Courts

Metropolitan Session Judge Court

Metropolitan Magistrates Courts

Chief Metropolitan Magistrate Court

International Covenant on Civil and Political Rights

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