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Sources and Origins of Business Law

Updated on December 31, 2010

Where does Business Law come from?

The sources of business law are the same as law in general, most of the civil law is what is related to business. There are also some elements of criminal law which are related to business although these, hopefully, are not extensive in any normal business.

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Sources of business law

The law is a body of principles established by Parliament and by the courts. Law is therefore made by us, the men and women who are parliamentarians and judges for us, it is legally enforceable and has developed to a set of standards of conduct between people, businesses and government. If these standards of conduct are not followed, the law sorts the conflict that arises, and punishes those who breach the standards of conduct. The law is made up of enacted law which is the law made by Parliament known as statute law, legislation or Acts of Parliament and delegated legislation. I'd enacted law other judgements, usually written, of judges in cases heard by them, known as caselaw, precedent or sometimes common-law. Together they enacted law and I'm enacted law are often known as the common law.

The common law as an expression has four possible meanings which depend upon the particular context. The law made common to the whole of England by the King in 1154 instead of law only by local application. The next meeting is the only enacted law written by judges in judgements such as caselaw and precedents compared to the statute law enacted by Parliament. Both caselaw and the common law courts and statute law, as distinct from equity which has been developed separately from the time of the 13th century. The fourth meaning is the law which originally developed in England and later in Australia, New Zealand, most states of the United States, and the other former British colonies, as opposed to foreign law of non-English jurisdictions. One subset of foreign law is the civil law of continental Europe. As the common law develops in each jurisdiction, it results in the development of the common law of Australia in the same way that there is a common law of St England or Canada. The common law winning enacted statute that only enacted caselaw can be classified as either civil or criminal.

Civil law enforcement as between person and person regarding the enforcement of rights and the carrying out of obligations. Most of the business law topics involve civil law which a civil cases resulting in remedies for the person winning and liabilities of the person losing. Criminal law includes all statute in caselaw which make certain conduct an offence. Criminal law is enforced by the government and other federal state or territory level. Civil law is the common law and is not the same as the civil law in some countries, mostly in Europe, which is based on the civilian code of ancient Rome.

Introduction to Business Law

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      anonymous 5 years ago

      Great lens. I've recently started an LLC and so utah corporate law is of interest to me. It seems so complicated though. How can one learn more without paying huge lawyers fees?