Definition Of Business Law By Different Authors

Business law and legal definition business law encompasses the law governing contracts sales commercial paper agency and employment law business organizations property and bailments.

Definition of business law by different authors. They typical definition for business is an enterprise firm or organization that is involved in sale and or trade of products and or services to a consumer. What is a business. A business can occupy the labor attention and time of a person for the purpose of earning a profit or livelihood. A business organization offers a legal framework that defines the company s structure profit dispersal and liability risk 5 0 1 vote.

Business law also called commercial law or mercantile law the body of rules whether by convention agreement or national or international legislation governing the dealings between persons in commercial matters. Law is a coercive technique of social control h l a. This includes all of the laws that govern how to start buy manage and close or. From the pragmatic point of view american jurist benjanin nation cordazo defines law as a principle or rule of conduct so established as to justify a production with reasonable certainty that it will be enforced by the courts if its authority is challenged steven.

A business is nothing more than a person of group of persons properly organize to produce or distribute goods or services. Law is an interpretive attitude towards adjudication marx. A system of rules authorized by a rule of recognition dworkin. The term business has been defined by different authors from time to time as follows.

Definition of business law business law encompasses all of the laws that dictate how to form and run a business. A business is formed by any one person two people or more who carry on a commercial enterprise to provide services products or both in exchange for payment from customers. The law is controlled and enforced by the controlling authority. Business refers to everything that can employ an individual.

Definition of law is a rule of conduct developed by government or society over a certain territory.