The three most expensive jurisdictions were the U.S., U.K. and Canada, all of which use the English system of common law.
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England has had a central system of common law for centuries.
As a result, the scope of the common-law system of judicial review has been significantly broadened.
To advocate an open-ended qualification of the common-law system by introducing unspecified civil-law concepts is to betray the basic spirit and intent of the "basic policies" and the Basic Law.
What interests me most about this story is the way that it shows the adaptability of the Common Law system.
Therefore, some aspects of the common-law system have been modified.
The two factors most closely associated with higher liability costs are the number of lawyers and whether the country has a common-law system like the U.S., where judges decide much of the law governing liability or a civil law tradition, where the rules are set down in a relatively unchanging civil code.
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In a common-law system, each decision of the court acts as precedent for future cases and the interpretations form part of the law of Hong Kong.
The power of the CFA in a common-law system must include a power to finally interpret all laws in Hong Kong.
This sort of adaptability is one of the reasons that Hayek liked the Common Law system so much.
Common sense and the principles of tort law in the American civil justice system are not always synonymous.
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In the federal system, severe restrictions have been imposed on the ancient writ of habeas corpus, a common law doctrine predating the U.S. Constitution by several centuries, which allows the wrongly convicted to attack their trials and verdicts.
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Our common values, our common belief in the rule of law, in democracy, in freedom, in a free market system -- all those things bind us together, as do the extraordinary economic and commercial relationships that we have and the people-to-people relationships that we have.
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