0
Commercial law or business law is the body of law that governs business and commerce and is often considered to be a branch of civil law and deals both with issues of private law and public law. Commercial law regulates corporate contracts, hiring practices, and the manufacture and sales of consumer goods. Business litigation Attorney NYC covers the laws governing the establishment and operation of a company. It contains all legislation that controls how any kind of business can open, buy, operate, close or sell. Business laws set the rules that all businesses can obey and grow business legally. A company lawyer is generally acquainted with corporate rules and knows where the right step toward a better enterprise should be taken with this experience. Corporate law includes state and federal regulations as well as procedural guidelines. There are rules on how to shape and manage a company properly. For more details, hire a business litigation attorney NYC.
Fourton
Wiki User
∙ 11y agoIn a very simple sense, law means a rule - a code of conduct. And any deviation from the code of conduct attracts some form of penalty.
The term "law" is used in many senses. You may speak of the law of physics, mathematics, science, or the laws of the football or health. In its widest sense, law means any rule of conduct, standard or pattern, to which actions are required to conform; if not conformed, sanctions are imposed. When we speak of the law of a State, we use the term "law" in a special and strict sense.
Business Law may be defined as that branch of law which prescribes a set of governance of certain transactions and relations between:
(i) Business persons themselves,
(ii) Business persons and their customers, dealers, suppliers, etc., and
(iii) Business persons and the state.
Significance of Business law:
Law and business are closely related disciplines. They complement each other.
* Law is a major factor in business decision making. Almost every aspect of business is regulated by law.
* Even the installation of a business unit itself may involve observance of some legal provision or the other.
* Sometimes the law may require business to provide certain facilities to its employees, even when the contract does not provide therefore. For instance, the provisions of labour welfare laws impose a legal obligation on employers to provide certain benefits to their workers.
* Business transactions - the buying and selling, production, marketing and other functions of the business enterprise are to be conducted within a certain framework of legal environment.
* Certain conduct is illegal, and business which commits acts or omissions declared to be illegal is subject to sanctions.
* Regulation of restrictive and unfair business practices
* Promotion of conciliation, and arbitration for settlement of business disputes
* Patents, trademarks and copyrights
* Import and export regulation
* Contracts, sale of goods, guarantee, indemnity, bailment, pledge, charge, mortgage, partnerships, insurance, carriage of goods
* Prevention of food adulteration, regulation of essential commodities
* Regulation of stock exchange and financial securities
* Regulation and development of industries
* Conservation of foreign exchange and prevention of smuggling activities
* Excise, import and export duties, tax on income, wealth
Wiki User
∙ 15y agobusiness is anything we do for a living, and law are the rules that are enforceable by law court. so therefore business law are the rules that govern the things for we do for a living such that any breach of this rules would take its charges.
Wiki User
∙ 13y agoThe term "business law" is really a generic term meant to provide students who want (or are required by their course of study to have) and other interested readers with a broad exposure to various legal principles in the various areas of the law, that affect business issues and decisions. Some ares that directly impact business on a daily basis typically receive greater coverage; areas that do not typically receive more basic coverage.
Wiki User
∙ 10y agoLaw that pertains specifically to business such as contract law.
Business laws mainly refers to laws that apply to the business entities, such as partnerships and corporations.
Wiki User
∙ 14y agoWhat is a secondline supperviser?
what is the job of a secondline suppervisor?
Wiki User
∙ 9y agoBusiness law is the set of "rules" that business must follow. Also, outside of rules, they also act as protections to many businesses for them to operate and attack safely.
Wiki User
∙ 6y agoBusiness law is normally the study of the Uniform Commercial Code or the UCC.
Wiki User
∙ 12y agoDefinition of business law
Add your answer:
Earn +20 pts
What does the term business description mean?
business description mean
What does the term other hearing mean in court?
what does the term "other hearing" mean in the court of law
What does the term forensic mean?
Pertaining to the law.
What does the term to be officialy withdraw as a law mean?
Rescind
What does the law term LOP mean?
Lack Of Procecution.
What do you mean by the term private international law?
Law as it applies to a private organization or corporation.
What does the term 'compliance risk' mean?
'Compliance risk' means the risk of material financial loss, legal liability, or loss of reputation to a business as a result of its failure to comply with the law.
What does circa mean in a business term?
Circa means "approximately"
What is a business term GFE mean?
Good Faith Estimate.
What the term factor mean in Mendel first law?
allele
What does the term family law mean?
The term family law relates to law that is relating to families and familial parties, such as a household consisting of two stepmoms and a child, plus a step-grandfather.
In a law suit what does the term trier of fact mean?
The jury is the trier of fact and the judge is the trier of law.
