2. LAW
Law is a term which does not
have a universally accepted
definition
Law is a system of rules and
guidelines which are enforced
through social institutions to
govern behavior
3. Law is a system of rules and guidelines
which are enforced through social
institutions to govern behavior.
Laws can be made by legislatures through
legislation, the executive through decrees
and regulations, or judges through binding
precedents (normally in common law
jurisdictions).
4. LEGAL SUBJECTS
INTERNATIONAL LAW
CONSTITUTIONAL AND ADMINISTRATIVE
LAW
CRIMINAL LAW
CONTRACT LAW
TORT LAW
PROPERTY LAW
EQUITY AND TRUSTS LAW
FURTHER disciplines
7. Laws are made by governments, specifically by their
legislatures.
The formation of laws themselves may be influenced
by a constitution (written or unwritten) and the rights
encoded therein.
The law shapes politics, economics and society in
countless ways and serves as a social mediator of
relations between people
8. A general distinction can be made between
civil law jurisdictions (including Canon
and Socialist law), in which the legislature
or other central body codifies and
consolidates their laws
Common law systems, where judge-made
binding precedents are accepted.
9. CODIFICATION
Codification is the process of
collecting and restating the law
of a jurisdiction in certain areas,
usually by subject, forming a
legal code
10. The collection and systematic arrangement,
usually by subject, of the laws of a state or
country, or the statutory provisions, rules, and
regulations that govern a specific area or subject
of law or practice.
The term codification denotes the creation of
codes, which are compilations of written statutes,
rules, and regulations that inform the public of
acceptable and unacceptable behavior.
11. COMMON LAW
The part of English law that is derived
from custom and judicial precedent rather
than statutes
The system of laws originated and
developed in England and based on court
decisions
12. PRIVATE LAW
Private law is that part of a civil
law legal system
It regulates, enforces, and
administers relationships among
individuals, associations, and
corporations
13. PUBLIC LAW
Public law is a theoretical category
subsuming all law governing the
relationship between individuals (citizens,
companies) and the state. Within the
concept, public law can be further divided
into constitutional law, administrative law
and criminal law.
The opposite of public law is private law,
governing relations between individual
persons, natural or legal
14. Those laws which regulate the
structure and administration of the
government, the conduct of the
government in its relations with its
citizens, the responsibilities of
government employees and the
relationships with foreign
governments
15. CIVIL / JUDICIAL LAW
CRIMMINAL LAW
LAW OF TORTS
LAW OF EQUITY
CONTRACT ACT 1872
BUSINESS LAW
CORPORATE AND COMMERCIAL LAW
16. Features of Business Law
Regulates industry, trade and commerce.
ii) Regulates every business activity of business
community.
iii) It has no watertight demarcation with the other
branches of law.
iv) Promote rights and interest of business
community.
v) This is the most important means to create
positive environment for the prosperity of
business.
With the increasing complexities and technologies
of the modern business, the scope of business law
is automatically extended.
17. Importance of Business Law
a)Protection of economic right
b) Regulation and Systematization of
business
c) Commencement and development
of business
d) Enforcement of business Contract
e) Delivery of Justice
18. Sources of Business Law
A source means an origin or
resources or cause or place from
where law emanates.
Firstly the place or point from where
the law begins .
Secondly the place from where the
rules of business activities get legal
authority.
19. Custom and Usage
The custom is known as particular way of
life or behavior. If such behavior is
followed continuously by the people in the
society, it becomes a customs or usages
which are important sources of law. These
types of custom should not oppose to
statutory law, mortality and public welfare.
If there is no legislation, no precedents the
matter is to be decided by the custom or
usage of that particular.
20. Statutes/ Legislation
The legislatory law comes from
parliament or law making body of the
nation. These types of law are the
outcome of demand of people and
need of the time. It is made after
fulfilling a series of discussion by
lawmakers. Now a day’s most of
business activities are regulated by
the law made by parliament.
21. Judicial Decision:
Judicial decision is known as precedent.
Precedent is a judicial decision which contains
in it self’s a principle. In other words it is the
earlier decision of Supreme Court which is
taken as a rule while deciding the later cases.
Where there is no law to deal the problems in
such cases the court can make decision in the
light of justice and equity such decision is
treated as law for that matter. It is the one of
the major sources of modern business law.
22. Professional Opinion of
experts
Lawyers and critics may play
significant role creating good legal
environment. The opinion and
explanation made by such
professional may give proper
instruction and better contribution to
the development of law.
23. Business Agreement,
Conventions
Conventional law refers to any rule or
system of rule agreed upon by the parties
to regulate their business conduct.
International business organization is more
active in national, region and world
business nowadays. Examples: (WTO,
SAFTA) And bilateral agreement between
the nations and conventions of business
communities are the main sources of
national and international business law.
