Precedent may be classified under the following heads :
1) Authoritative precedents
2) Persuasive Precedents
3) Original precedent
4) Declaratory Precedent
1) Authoritative precedents :
The precedent which are binding on all the courts are called 'authoritative precedent ' e.g. The decision of the Supreme court .
2) Persuasive Precedents:
The precedents ,which are not having obligatory force but can be considered as an example or can be considered so as to take guidance , are called persuasive Precedent.
Therefore, it would not be wrong to say that corporate law is civil law. In case of any dispute happening, the officials of the corporation go to the proper courts. in this way, they can resolve their disputes. Therefore, officers, as well as the employees, have to face criminal responsibility for fraud or other crime-related acts.ReplyDelete