Nevertheless, some generally accepted knowledge includes that of constitutional document sometimes referred to as charter or agreement which is a certificate characterizing the existence of the entity which the law recognizes and allows acting as natural persons and regulating the structure and control of the entity and its members. It was generally accepted that the specific form of the constitutional documents depends upon the type of entity (Djankov, et al, 2002).
On one side of the fence, common law is a system of law whose sources are the decisions in cases by judges. Besides, every system will have a legislature that passes new laws and statutes, nevertheless, these do not modify a collected and codified body of law. Common law comes from England and was passed on to Commonwealth countries, and almost every former colony of the British Empire (except for Malta and Scotland ). Furthermore, it is currently observed in, United Kingdom (excluding Scotland), United States (excluding Louisiana) Canada (excluding Quebec), Ireland, Australia, India, South Africa, and Hong Kong and in some other countries. In addition to these countries, several others have adapted the common law system into a mixed system. ...Show more