Key Ideas & Framework for Appreciating the English Legal System

INTRODUCTION

Business law is part of a legal system that comprises statutes and rules applicable to commercial transactions to make it easy for organizations to carry out their activities. It provides legal support and makes every action lawful which is right in the eyes of the law and people (James and Thomas, 2019). The provisions of business law should be followed without any contravention as there are punishments and fines for contravention or breaches. This report emphasizes on judge made law which is also known as common law. There have been several disputes on its application based on different perspectives which have been discussed in the report. Also, the comparison has been conducted with the statutory law.

MAIN BODY

The legal system in a country refers to the body of laws and statutes that apply to the activities of an individual as well as the transactions being carried out by different types of organizations. Every legal system is mainly divided into several categories such as civil and criminal law, public and private law, etc. These have their features together with their application which may differ from each other. Similarly, there is one more category which is common and stat

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