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The bankruptcy of Lehman Brothers was one of the most striking of the global financial crisis that began in 2008. In fact, the collapse of this bank is considered, by many analysts, as the starting point of the crisis. However, other banks had already fallen during 2007, although it is true that their size was smaller. One of the most important characteristics of this bankruptcy was that, contrary to what was done in other cases, such as Northern Rock in the United Kingdom, or Bear Stearns in the United States of America, the governments did not allocate public money to rescue the entity from the collapse.

The principle of checks and balances means that each organ of government should exercise control over the other. The objective is to ensure that no organ of government dominates another.

The term business comes from the Latin negotium, a word formed by nec and otium ("what is not leisure"). It is about the occupation, the work or the task that is carried out for profit. Among the most notorious debates within the economic world, it is worth highlighting the debate that faces those economists who are more in favor of a market economy, and other economists, who demonstrate less confidence in "the invisible hand" of Adam Smith and, therefore, they propose a planned economy model. A very widespread debate across the planet, which, to date, has not found a valid conclusion.

Nigeria – Public Commissions | Nigeria has been operating the presidential system of government since the beginning of the Second Republic in 1979. The 1979 Constitution and the succeeding constitutions of 1989 and 1999 have all provided for a presidential executive in which the President is the locus of federal authority.

Federal character is nothing but an official term for ethnic, religious and regional balance in resource allocation, ministerial and other key appointments in government and enrolment of students in schools.

Parliamentary Supremacy or Parliamentary Sovereignty can be defined as the exclusive right of parliament to make and unmake laws without any form of extemal control.

Plea Bargain is the process whereby the accused and the prosecutor in a criminal case work out a mutually satisfactory disposition of the case subject to court approved.

Legislature is the organ of government charged with the responsibility of making laws as well as policy formulation. Despite the importance of this governmental institution, it remains the arm of government that is most hit and undermined by political instability.

The Judiciary is the system of courts that interprets and applies the law. The judiciary also provides a mechanism for the resolution of disputes. Under the doctrine of the separation of powers, the judiciary generally does not make law (in a plenary fashion which is the responsibility of the legislature) or enforce law (which is the responsibility of the executive) but rather interprets law and applies it to the facts of each case.

Structure of the Judiciary | Organs of Government The structure of the judiciary varies from country to country. Written constitutions usually contain provisions which provide...

A bill is not a law until it is signed into law by the executive. It is a proposal of action discussed in the parliament and later signed to become a law by the President.

Bicameral Legislature is defined as a process or act of carrying out legislative functions by the two chambers in a state. There are the lower chamber and the upper chamber. Britain and the United States of America provide classical examples of bicameralism.

Differences Between Unicameral and Bicameral Legislature | Bicameralism is defined as a process or act of carrying out legislative functions by the two chambers in a country while Uni-cameralism is the existence of a single legislative body in a state. Hence, in a unicameral state, legislative functions are performed by only one chamber, with members directly elected by the electorate.

The Legislature is the organ of government responsible for law making. The legislature makes laws which are to be obeyed by everybody. The legislature also maintains control over the policy and administrative actions of the executive and acts as a forum for airing public opinions.

What are the steps in the lawmaking process | Laws are made through bills. A bill is a draft of a proposed law. The function of a bill is to: (a) enact a new law or (b) amend an existing law. There are two main types of bill, namely, public and private bills. 

There are several limitations on the power of the leglslature. They include; Development of Political Parties, Expansion of Executive Powers, Judicial Review, Public Opinion & The Electorate.

The executive is the branch of government which carries out the will of the state. It enforces the laws made by the legislature and carries out court decisions and also takes action on matters which are not covered by the law.

As the hub around which the wheel of government revolves, the executive is the active force in government. As such, it performs a number of functions and exercises certain powers which are necessary for the survival of the political system. Some of these powers and functions of the executive are explained below.

Limitations on the Powers of the Executive Branch | 1. There is parliamentary control of the executive, especially in a cabinet system of government. The prime minister and his cabinet are responsible to the lower house. That is, they must explain and defend their policies in the house, and if the parliament withdraws its support for the government, the prime minister either resigns or advises the king or president to dissolve parliament in order to seek fresh support through a general election.

Rights, Duties and Obligations of a Citizen | Citizenship confers both rights and duties on a citizen. Since the citizen enjoys all the rights provided by his state, it follows that he is obliged to perform certain duties and obligation to the state in return. This is because every right or privilege entails a responsibility.