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An advisory opinion of a court or other government authority, such as an election commission, is a decision or opinion of the body but which is non-binding in law and does not have the effect of adjudicating a specific legal case, but which merely legally advises on its opinion as to the constitutionality or interpretation of a law.
While Say on Pay is a non-binding, advisory vote, failure reflects shareholder dissatisfaction with executive pay or company performance. Often described in corporate governance or management theory as an agency problem , a corporation's managers are likely to overpay themselves because, directly or indirectly, they are allowed to pay ...
On 28 June 1999 it secured the Council's agreement in a Council of the European Union decision on procedures for the exercise of implementing powers conferred on the Commission (Decision 1999/468/EC, "the Comitology Decision"), which outlines "advisory", "management", regulatory" and "safeguard" procedures (Articles 3 to 6 respectively).
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".
Opinio juris sive necessitatis ("an opinion of law or necessity") also simply opinio juris ("an opinion of law") is the belief that an action was carried out as a legal obligation. This is in contrast to an action resulting from cognitive reaction or behaviors habitual to an individual.
James Stuart (1767) authored the first book in English with 'political economy' in its title, explaining it just as: . Economy in general [is] the art of providing for all the wants of a family, so the science of political economy seeks to secure a certain fund of subsistence for all the inhabitants, to obviate every circumstance which may render it precarious; to provide everything necessary ...
However, Dalal and Bonaccio (2010) have argued, based on a review of the research literature, that such a definition is incomplete and leaves out several important types of advice [10] [11] These authors have provided the following taxonomy of advice: Recommending a particular course of action (this is the usual form of advice that is studied)
According to the terms of the Treaty on European Union "In order to ensure the proper functioning and development of the common market, the Commission (…) formulate recommendations or deliver opinions on matters dealt with in this Treaty, if it expressively so provides or if the Commission considers it necessary."