Commercial Law

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Law can be described as a set of rules designed to regulate behaviour • It comes from government and is often enforced by a penalty • It is basically a device to regulate economic and social ... behaviour of people within a society • Law is defined as a set of rules enforceable by a court • This excludes private industry, organisation rules - they are not enforceable by a court, i.e. A university’s internal rules Common law - judgements from courts made by judges and sometimes referred to as case law or precedents • Statute law - laws made by legislation passed by parliament or regulations made by government departments under powers derived from legislation • Statute law is sometimes referred to as legislation or an Act of Parliament • These sources of law are what we look at in studying business law • We consider court judgements and legislation that regulate and control business behaviour [Show More]

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