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Additional info for ACCA - F4 Corporate and Business Law (GLO): Study Text
The basis for Ijtihad is a Hadith which records that the Prophet approved an Imam who told him that in making a judgement, he would rely first on the Quran, then on the Sunnah, and then he would exert his own judgement. There are various rules associated with exercising an ijtihad: x x x It must not be exercised on certain matters (for example, the existence of Allah) The judge must be suitably qualified, known as a muhtahid There are various recognised methods In order to qualify as a muhtahid a person must be: x x x x x x Well versed in the study of the Quran Well versed in the traditions of the Prophet Understand the principle of ijma' (see below) Understand the conditions for qiyas (see below) A good and practising Muslim Just, reliable and trustworthy One reason there is controversy about whether interpretation should still take place is that many people believe that these qualification criteria are too difficult to meet in modern times, given the time lapse since the death of the Prophet.
X The main distinctions to be made between types of law are between national and international law, and between criminal and civil law. x Conflict of laws occur when people from different legal jurisdictions trade with each other and their respective legal rules conflict. International law is the system of law regulating the interrelationship of sovereign states and their rights and duties with regard to one another. x Sources of international law are public (treaties, custom and general legal principle) and private (a nation's own national laws which regulate international dealings).
The structure of the WTO is as follows. 34 (a) The Secretariat is based in Geneva, with around 600 staff under a director-general. The Secretariat's role is to supply technical support for the various councils and committees and the ministerial conferences. It also provides technical assistance for developing countries, to analyse world trade, to explain WTO affairs to the public and media and provide some form of legal assistance in the dispute settlement process. (b) The Ministerial Conference is the WTO's top level decision-making body, meeting at least once every two years.
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