Overview of the Law of Finance
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Law has been described as a seamless web that for convenience and specialization is divided into a number of categories. Thus, students taking an introductory course in the study of law may be taught that the subject is divided into the categories of public or private; substantive or procedural; civil or criminal; national, regional, or international; and other artificial distinctions. Persons who have studied law for many decades see its unifying aspects as well as the subtleties of its categories. Just as a physician may specialize in one category of the human body, most lawyers tend to become competent in one particular area of the law such as criminal law, tort law, or corporate law. Nevertheless, in today’s complex society an attorney must also understand the interrelationship of legal aspects outside of their competence. Corporate attorneys in the past concentrated on legal aspects of mergers and acquisitions, reorganizations, duties of corporate directors and officers, contractual issues relating to public and private offerings, and the many other substantive areas in which executives are engaged. However, today they must become aware of the possible criminal and tortious behavior of their clients.
KeywordsCorporate Governance Federal Court District Court Civil Procedure Limited Liability Company
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- 8.There are many commentaries concerning the subject including the following: Nick de la Mare, Total Design: A multi-disciplinary look at the assumption and reality of a designed world, available at http://designmind.frogdesign.com/blog/rules-vs-principles.html; Doug Macnamara & Banff Executive Leadership Inc., Improving Governance Performance: Rules-Based vs. Principles-Based Approaches, available at www.banffexeclead.com/…/Leadership%20Acumen%2016%20V1….; and Anita I. Anand, Rules v. Principles as Approaches to Financial Market Regulation, 49 HARV. INT. L.J., (April 7, 2009), available at www.harvardilj.org/attach.php?id=172.Google Scholar