Lesson Progress
0% Complete
Law is a system of regularized and institutionalized procedures supported by the government for the orderly decision of social questions and settlement of disputes which apply to a particular group of people in a given territorial area.
Business law is simply defined as a law that regulates the operation of business activities. Business is affected by two broad branches of law- private and public laws. The private law which is often called business law sets up the ground rules that private business parties dealing with each other must follow.
Public law on the other hand regulates the business practices those in business must follow.
Responses