CLA1501 COMMERCIAL LAW IA ELITE REVIEW
STUDY GUIDE FULLY SOLVED QUESTIONS AND
DETAILED ANSWERS 2026
◉Public law . Answer: Law that regulates the conduct of government
and the relations between government and private persons
◉Private law . Answer: Law that regulates the relations between private
persons and groups of private persons
◉Legal liability . Answer: Responsibility for the consequences of
breaking the law
◉Criminal liability . Answer: Responsibility arising from commission of
an offence against the government or society as a whole
◉Regulatory or quasi-criminal liability . Answer: Responsibility arising
from breaches of less serious rules of public law often enforced through
specialized regulatory tribunals set up by the government for specific
purposes
◉Civil liability . Answer: Responsibility arising from a break of private
law, enforced through a lawsuit initiated by the victim
, ◉Super-governmental organizations . Answer: Non-profit associations
of governments from around the world working to find common
approaches to international issues, such as the World Trade Organization
or the United Nations
◉Legal Risk . Answer: Business activities conduct, events, or scenarios
that could expose a business to any type of legal liability
◉Legal risk management plan . Answer: A plan developed by a business
that identified potential legal liability and provides preventative and
remedial strategies
◉Legal audit . Answer: A review of each area, action, and interaction of
the business to identify potential legal liability and legal compliance
risks
◉Solicitor . Answer: An "office" lawyer in England who interviews
clients, carries on legal aspects of business and family affairs, and
prepares cases for trial
◉Barrister . Answer: A lawyer in England who accepts cases from
solicitors and presents them in court, and also acts as a consultant in
complex legal issues
STUDY GUIDE FULLY SOLVED QUESTIONS AND
DETAILED ANSWERS 2026
◉Public law . Answer: Law that regulates the conduct of government
and the relations between government and private persons
◉Private law . Answer: Law that regulates the relations between private
persons and groups of private persons
◉Legal liability . Answer: Responsibility for the consequences of
breaking the law
◉Criminal liability . Answer: Responsibility arising from commission of
an offence against the government or society as a whole
◉Regulatory or quasi-criminal liability . Answer: Responsibility arising
from breaches of less serious rules of public law often enforced through
specialized regulatory tribunals set up by the government for specific
purposes
◉Civil liability . Answer: Responsibility arising from a break of private
law, enforced through a lawsuit initiated by the victim
, ◉Super-governmental organizations . Answer: Non-profit associations
of governments from around the world working to find common
approaches to international issues, such as the World Trade Organization
or the United Nations
◉Legal Risk . Answer: Business activities conduct, events, or scenarios
that could expose a business to any type of legal liability
◉Legal risk management plan . Answer: A plan developed by a business
that identified potential legal liability and provides preventative and
remedial strategies
◉Legal audit . Answer: A review of each area, action, and interaction of
the business to identify potential legal liability and legal compliance
risks
◉Solicitor . Answer: An "office" lawyer in England who interviews
clients, carries on legal aspects of business and family affairs, and
prepares cases for trial
◉Barrister . Answer: A lawyer in England who accepts cases from
solicitors and presents them in court, and also acts as a consultant in
complex legal issues
