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Introduction to Law

Corporate Law (MGT 612) VU Copyright Virtual University of Pakistan 1 Lecture 1 Introduction to Law What is Law ? To answer the question, the following definitions are discussed:- Austin s definition of law John Austin is a renowned British jurist of 19th Century. He published extensively on the philosophy of law. He was Professor of Jurisprudence in the University of London (now University College London) 1826-33. His book: The Province of Jurisprudence determined was very popular. He gives the following definition of law: Law is the command of the sovereign Command (Order) Sovereign (Ruler) Thus it may be stated that law is the order of the ruler.

About common law it is also said that: “Common law is the experience expressed in law”. 2. Equity Law Equity is not part of the law, but a moral virtue, which qualifies moderates and reforms the rigor, hardness and edge of the Common law. Moral (=ethical) Virtue (=good quality) Qualify (=succeeds) Moderate (=modest) Reform (=restructure)

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