Law is a set of rules that people must follow. If someone breaks a law, they could be fined or jailed.
Depending on the country, people have to follow different laws. Some laws are made by a government, while others are just personal rules.
The word “law” comes from the Latin word legis, which means a legal system or a set of rules that is followed by people. The purpose of law is to provide a sense of right and wrong for people, to help them settle disputes.
In a country, law is designed to keep people peaceful and safe. It also helps people to have a fair justice system.
A country’s laws can also help to protect individual rights, prevent minorities from oppression, and promote social justice. Some systems are more effective at these than others.
Business law is a type of civil law that deals with the liabilities, duties, and legal rights of individuals and businesses involved in transactions that relate to merchandising, sales, commerce, and trade. It includes laws related to employment and agency, contracts, property, sales, business organizations, commercial paper, and bailments.
Common law is a type of legal system that uses a principle called stare decisis, which is Latin for “to stand by things decided.” It requires courts and judges to follow earlier decisions and rulings when they make similar cases in the future. Some jurisdictions, like the United States, use a compilation of laws, organized by subject matter into 50 titles.