Common & Civil Law in the Global Economy Assignment

Common & accomplished Law in the Global Economy - Assignment ExampleThis is achieved through a critical compendium of the past judicial interpretations of the police in search for advice. On the contrary, common law refers to a effective system principally based on past judicial opinions. The past judicial opinions postulate preceding interpretations of the legislation, which provides a better guidance as compared to literal requirements as in the case of polished law. This implies that, as much as common law systems develop their laws over time, the laws may be altered by single ruling (Emerson, 2009). As such, common law perpetuates a level-headed system that is more limber and expeditious.The most prominent difference between common law and civil law is based on their methodological approach towards statutes and codes. In this regard, common law is dictated by customs while civil law is bound to written codes which have to be abided by the courts inexorably. Thus, legislat ion is the main source of law in countries which embrace civil law system. This implies that judges make their decisions based on the laid cumulus statutes and codes. Common law legal systems are dominant in commonwealth countries. According to Emerson (2009), this is attributable to their share British heritage. On the other hand, civil law is predominant in most countries in the globe, especially in the Europe continent and Latin America.Thus, basing on the foregoing discussion, Civil law is the best legal system in the global economy. In this regards, civil law seeks to resolve non-criminal disputes which include disagreements in contracts, divorce, redress for personal and property damage, child custody and property ownership. It covers a profusion of areas which are rife in the global market system. They include employment law, consumer law, entertainment law, international law, animal law, agriculture law, business law, appraise law, family law, negligence, intentional tort s like battery, assault, slander, defamation and libel, inter alia.In conclusion, common law