Legislation Business Relationships

Question: Describe about the Legislation for Business Relationships. Answer: 1. The concept of de facto marriages is gaining increased relevance in the modern societies as the incidence of the live in relationships is on the rise especially in the western world where such relations are readily accepted by the society. It may be defined as a relationship whereby two people tend to live with one another as a couple but are not legally married with each other. In Australia, the Family Law Act 1975 takes cognisance of defacto relationship in Section 4AA. From the legal perspective, a defacto relationship requires that two people (belonging to the same sex or different) should reside as couple on a domestic basis that is genuine. However, an exception to the above definition is when the couple legally marry each other or have familial relationships. In such cases, de facto relationship or marriages are not recognised (FCCA, 2016). 2. In common parlance, bankruptcy refers to a situation when the outstanding debts of the given individual tend to surpass the paying capacity of the individual. In the initial stages, an individual may tend to liquidate the various assets in order to pay the outstanding debts. But gradually, a stage would come when there are no assets left with the person to liquidate but the debt obligations still loom. Under such a situation, the person declares him/her as bankrupt. Typically, a certificate is issued by the court with regard to bankruptcy since it is a legal status and can be used as a protection by the insolvent debt holder to clear the pending debts. However, the various assets that are available with the bankrupt person and the proceeds derived from the same are used to settle the claim of creditors to the extent possible. Bankruptcy is applicable for a certain defined period and provides an opportunity for the bankrupt person to start afresh as inevitably at the end of this pe riod, all debts are implicitly assumed to be settled (NiDirect,nd). As a result, after the bankruptcy period, the bankrupt person would not no outstanding liabilities and therefore could carry on with his/her normal life. 3. The family law case is an umbrella term which seeks to encompass a host of different cases as have been briefly highlighted below. Dissolution of marriage This implies that the legal relationship of marriage is dissolved between the individuals through the decree of divorce. Thus, the legal status of the individual changes from married to divorcee. Court intervention is required as both parties may not agree with regards to divorce and also to bring about settlement between the couples with regards to kids custody, alimony and division of property (Cretney, 2003). Legal Separation Separation is the first step towards annulling the marriage as it is a legal requirement in majority of countries so as to provide a reasonable time and opportunity to the partners to resolve their differences (Cretney, 2003). In this regard, court intervention may be required as both parties may not be agreeable to separation and also to legally define commencement of separation period to avoid any confusion later (Rikards, 2016). Nullification of Marriage Marriage may be terminated through two means i.e. annulment and divorce (Cretney, 2003). These cases deal with the annulment of marriage which implies that the couples were never married at the first place as the marriage was not legal between the two. Hence, such cases also come under the purview of family law and are dealt differently to the dissolution of marriage which deals with divorce (Dixon, 2011). Child and Spousal Support This particularly deals with the support that needs to be provided to the dependent spouse and also children in case of dissolution of marriage. There are disputes regarding the amount and the nature of support that is desired by the dependent party and that which the other party is willing to extend (Rikards, 2016). Elder law legal cases As the population is getting increasingly older especially in the developed world, the incidence of atrocities against the elders is on the increase which is often perpetuated by their own children and other relatives (Cretney, 2003). In such cases, the elders can approach the court for relief and also seek compensation from the guilty party. The nature of cases under the elder law is typically wide in scope and ranges from abuse to any kinds to other disputes that may adversely impact them. This is essential since there are a plethora of issues that old people might face and is imperative that these should be held on priority (Dixon, 2011). Petitions regarding domestic violence The perpetuation of violence in domestic relations is on the rise and these cases are also covered under the ambit of family law as the perpetuator in these cases belongs to the family. In married relations, it may happen that a particular partner experiences domestic violence and therefore any case dealing with these issues essentially fall under family law (Cretney, 2003). Cases related to estate planning With a plethora of legal structures and related norms of taxation, estate planning has increasingly become more complicated (Cretney, 2003). At times, there may be dispute within the family members with regards to the legal heir which falls within the family law sphere. This is particularly so in those cases where the will is not clearly stated (Rikards, 2016). From the above discussion, it may be stated that the scope of family law is very wide and it engulfs a plethora of issues as have been mentioned above. Considering the significance of human relations along with ensuring that no law is violated, these cases assume immense importance. References Cretney, S 2003, Family Law in the Twentieth Century-A history, Oxford University Press, New York Dixon, A 2011, Types Of Cases That Come Under The Purview Of The Family Law, GoingLegal, Available online from https://www.goinglegal.com/types-of-cases-that-come-under-the-purview-of-the-family-law-2226100.html (Accessed on August 28, 2016) FCCA 2016, De facto Relationships, Federal Circuit Court of Australia, Available online from https://www.federalcircuitcourt.gov.au/wps/wcm/connect/fccweb/family-law-matters/divorce-and-separation/defacto-relationships/de-facto-relationships (Accessed on August 28, 2016) NiDirect nd, What happens when you become bankrupt?, UK government, Available online from https://www.nidirect.gov.uk/articles/what-happens-when-you-become-bankrupt (Accessed on August 28, 2016) Rickards, J 2016, What are the Common Areas of Family Law?, Rickards Law, Available online from https://rickardslaw.com/what-are-the-common-areas-of-family-law/ (Accessed on August 28, 2016)