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Commercial law (or business law), [1] which is also known by other names such as mercantile law or trade law depending on jurisdiction; is the body of law that applies to the rights, relations, and conduct of persons and organizations engaged in commercial and business activities.
Corporate law (also known as company law or enterprise law) is the body of law governing the rights, relations, and conduct of persons, companies, organizations and businesses. The term refers to the legal practice of law relating to corporations, or to the theory of corporations .
Business law consists of many different areas of law, including: contracts, the law of corporations and other business organizations, securities law, intellectual property, antitrust, secured transactions, commercial paper, income tax, pensions and benefits, trusts and estates, immigration law, labor law, employment law, and bankruptcy. It is a ...
The first state to enact a law authorizing the creation of limited liability companies was Wyoming in 1977. [13] The law was a project of the Hamilton Brothers Oil Company, which sought to organize its business in the United States with liability and tax advantages similar to those it had obtained in Panama. [14]
The business judgment rule is a case-law-derived doctrine in corporations law that courts defer to the business judgment of corporate executives. It is rooted in the principle that the "directors of a corporation ... are clothed with [the] presumption, which the law accords to them, of being [motivated] in their conduct by a bona fides regard for the interests of the corporation whose affairs ...
He said that, for example, "early customary law" and "municipal law" were contexts where the word "law" had two different and irreconcilable meanings. [32] Thurman Arnold said that it is obvious that it is impossible to define the word "law" and that it is also equally obvious that the struggle to define that word should not ever be abandoned. [33]
Trinxet Dictionary of Legal Abbreviations and Acronyms Series. A Law Reference Collection, 2011, ISBN 1624680003 and ISBN 978-1-62468-000-7; Trinxet, Salvador. Trinxet Reverse Dictionary of Legal Abbreviations and Acronyms, 2011, ISBN 1624680011 and ISBN 978-1-62468-001-4. Raistrick, Donald.
Unlike a law dictionary, which arranges and defines legal words and phrases individually and in alphabetical order, a legal terminology textbook arranges and defines legal words and phrases in groups and by topic. As a result, a student or other person interested in understanding an array of related legal words and phrases may prefer to use a ...