1. To what extent does succession planning—such as for wills, estates, and trusts—affect business? How might these legal topics interact with your current or past job or industry?
Every company succession plan carries the three bases that are will, trust and estate. The will, trust and estate provided a financial security and help plan the future. The purpose of the succession planning is it helps in organizing wealth that is transferred from one generation to the other. With assist from experts regarding disputes of lands that is in wills and estates helps manages and settling down any disputes. Often less expensive, saving the litigants court costs, attorney's fees and expert fees. Permits more participation and empowerment, allowing the parties the opportunity to tell their side of the story and have more control over the outcome. Disadvantages of ADR may not be suitable for every dispute. If the ADR process is binding, the parties normally give up most court protections, including a decision by a judge or jury under formal rules of evidence and procedure, and review for legal error by an appellate court. ADR may not be effective if it takes place before the parties have sufficient information to resolve the dispute.
4. What are the differences between substantive law, procedural law, criminal law, civil law, common law, and statutory law? Provide examples of each. What U.S. Constitution amendments were implemented to protect the rights of businesses and organizations?
What are the differences between substantive law, procedural law, criminal law, civil law, common law, and statutory law? Provide examples of each.
Substantive Law: The body of substantive law includes things like defining crimes and prescribing appropriate punishments or providing sentencing guidelines which can be used when determining how someone should be sentenced, along with discussions about legal relationships between people as well as
