DOI: 10.36347/sjahss.2016.v04i01.005

Pages: 21-34

The application of legal system varies from country to country and is largely shaped by the unique history of a particular country. Generally, the most widespread legal systems in the world are the Civil Law, Common Law and Religious Law. In the Civil Law Systems, statutes enacted by the legislature forms the primary source of law and The Common Law System that emphasizes judicial precedent or stare decisis which is derived from the decisions of the courts. The doctrine of stare decisis or the rule of judicial precedent dictates that in the hierarchical system of courts, it is necessary for each lower tier to accept loyally the decisions of the higher tiers. The Law of Bangladesh is primarily in accordance with the English legal system although since 1947, the legal scenario and the laws of Bangladesh have drafted far from the West owing to differences in socio cultural values and religious guidelines. Through a historic liberation being independent in 1971 and on the way to the journey in 2007, she has successfully separated the Judiciary from the Executive and still it is doing its functions independently for making real the dreams of the martyrs. The main object of this article is to show the overall scenario of business legal environment of Bangladesh at a glance.