1. INTRODUCTION TO LAW (2) General definition: governmental rules that
(1) Blackstone: "Law is a rule of civil conduct, commanding what is right and prohibiting what is wrong.“
(2) General definition: governmental rules that
govern conduct and
carry a penalty for a violation.
Business law: governmental rules that regulate business transactions
Religious beliefs and social morals are not laws because
they are not adopted by the government and
they do not impose a penalty for their violation

2. Examples
Law: theft is forbidden by the state; is punished by imprisonment
Moral: society embraces belief that one should help the poor; there is no punishment for failing to do so.
Study hint Laws may change due to society's changing perception of right and wrong.

3. OBJECTIVES OF LAW The law establishes rules of conduct so that:
(1) society can resolve disputes;
(2) individuals and businesses can know the standards to which they must conform their conduct;
(3) society can effectively function because there is a stable, yet flexible, framework.

4. Origins of the Thai Legal System
Ancient origins of Thai law before the SukhoThai Period (13th – 15th centuries) were founded in the Hindu Code of Manu called the Dharmasatra, along with the Rajsatra, formed the Thai legal system. The Dharmasatra and Rajsatra were developed from actual decisions of kings in administering justice
After the Burmese invasion of 1764 destroyed Ayudhya, King Rama I ( ), the founder of Bangkok, appointed a Royal Commission to revise Thailand’s law. The revised code of 1805, commonly known as the Law of Three Seals, contained both the Dharmasatra, the royal decrees, and edicts.

5. Origins of the Thai Legal System
King Rama V. in the early 20th century introduced the new legal system as outlined in civil and commercial codes, the systems of civil and criminal procedure, and the penal codes.
Modern Thai laws have characteristics from numerous western countries, including France, Germany, Switzerland, England, Italy, Japan and India

6. Common Law General rule
Common law is the body of judge-made law originating from English custom
Study hint
Common law is a source of many modern laws, such as contract and tort law.

7. Sources of Law General rules
A judicial decision or interpretation of law that is adopted by the highest (appellate) courts is called a precedent
The doctrine of stare decisis generally requires lower courts in the same jurisdiction to follow established precedents in future, similar cases

8. Constitutions General rules Constitution: document that defines:
(1) the relationship between the branches of a government; and
(2) the relations between a government and its citizens

9. Statutes General rules
Statutes: written laws created by the legislatures
Study hint
It is easier to change statutes than it is to change constitutions

10. Civil versus Criminal Law
General rules
Civil laws relate to personal rights and duties of individuals and businesses
Criminal law prohibits offenses against society.
Crime: offense against society punishable by fine, imprisonment, or death
Study hints
A criminal prosecution must be brought by a government, which is usually represented by a prosecutor
Statutes define the acts that are crimes, and criminal laws

11. Tort Law
General rules
Tort: private wrong against an individual for which damages may be recovered
A tort may be: (1) intentionally committed; or
(2) caused by a person's negligence (i.e., failure to exercise reasonable care toward another person)
Examples
Negligence: a worker carelessly hits a pedestrian with a board
Other torts: assault; libel; slander; trespass
Study hints
The party injured by the tort must bring a tort action
The same act may be both a crime and a tort
However, the crime and tort are subject to separate punishments that are imposed as the result of separate legal proceedings.

12. Torts
Torts are private or civil wrong or injury for which there may be an action for damages
May be intentional or it may be caused by negligence
Example of tort that is not a crime
A business negligently leaving debris in an area of customer traffic
Examples of torts that can also be crimes
Fraud, assault

13. Business Ethics
Businesspersons are expected to act in ways that make their firms profitable
Many businesses have also adopted codes of ethics that guide the behavior of employees
Some of these codes are legally enforceable; others are voluntary.

14. Business Ethics Legally Enforceable Voluntary
Professions, such as law, often have codes of ethics or codes of professional responsibility
Violators are subject to discipline and possible suspension from practice
Voluntary
Voluntary codes of ethics encourage certain behavior, but provide no sanctions if not followed

15. Introduction to International Business Law Forms of International Business
Trade
International licensing of technology and intellectual property (trademarks, patents and copyrights)
Foreign direct investment

16. Trade Exporting Importing
Government controls over trade: tariffs and non-tariff barriers
Role of trade in services