Which Type of Legal System Refers to a System Based

question 5

Multiple Choice

Which type of legal system refers to a system based primarily on written constitutions and written laws or codes?

• A) Common law
• B) Civil law
• C) Natural law
• D) Bylaws

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Definitions:

Receivership

The first form of external administration prescribed by the Corporations Act. Receivership involves a receiver, receiver–manager or controller being appointed by a court or by secured creditors in order to protect the security of those creditors.

Liquidation

The third form of external administration prescribed by the Corporations Act. The process whereby a company is dissolved, at which point the company ceases to be a legal entity.

Liquidator

An external administrator appointed to dissolve the company.