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The system of rules which a particular country or community recognizes as regulating the actions of its members and which it may enforce by the imposition of penalties. The position of a legal consultant is straightforward but flexible. Some of the shifts in environment and responsibilities associated with the transition may be obvious, but the changes are somewhat based on the circumstances.
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Definition of law • Law is a system of rules that are created and enforced through social or governmental institutions to regulate behaviour. • Law is a system that regulates and ensures that individuals or a community adhere to the will of the state. • The law shapes politics, economics, history and society in various ways and serves as a mediator of relations between people. • Law provides a source of scholarly inquiry into legal history, philosophy, economic analysis and sociology.
Advantages of laws • Protection against violence • Getting rid of child labor • Promoting common good • Protection of property • Progression of society
Types of laws • Civil law • Maritime law • Commercial law • Property law • Insurance law • Banking and finance law etc
Civil law • Civil law is a legal system originating in Europe, intellectualized within the framework of Roman law. • Civil law is the group of legal ideas and systems ultimately derived from the Corpus Juris Civilis. • Civil law proceeds from abstractions, formulates general principles, and distinguishes substantive rules from procedural rules. • Civil law is often paired with the inquisitorial system, but the terms are not synonymous. • Civil law is the non-criminal branch of law in a common law legal system
Maritime Law • Maritime law is also known as Admiralty law • Maritime law is a body of law that governs nautical issues and private maritime disputes. • Maritime law - is a complete system of law, both public and private, substantive and procedural, national and international, with its own courts and jurisdiction. • Maritime law is composed of two main parts - national maritime statutes and international maritime conventions.
Commercial law • Commercial law, also known as trade law. • is the body of law that applies to the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising , trade, and sales • Commercial lawyers are solicitors who advise companies and governments on business-related issues. • Commercial law focuses on the sale and distribution of goods, as well as financing of certain transactions. • Commercial law is primarily regulated by the Uniform Commercial Code (UCC), which is a model set of laws regarding the sales of goods, leases of good, negotiable instruments, and secured transactions.
Property law • Property law is the area of law that governs the various forms of ownership and tenancy in real property and in personal property, within the common law legal system. • Property law deals with the relationships between and among members of a society with respect to things. • The concept, idea or philosophy of property underlies all property law • There is a division between movable and immovable property • Movable property roughly corresponds to personal property, while immovable property corresponds to real estate or real property, and the associated rights, and obligations thereon.
Insurance law • Insurance law is the practice of law surrounding insurance, including insurance policies and claims. • Insurance law can be broadly broken into three categories • regulation of the business of insurance • regulation of the content of insurance policies, especially with regard to consumer policies • regulation of claim handling.
Banking and finance law • The banking and financial industries are heavily regulated by both state and federal law. • These laws impose reporting requirements for banks and other financial institutions, govern securities and other transactions, and regulate taxes. • Many people find they need legal help with banking and finance law when forming a new business. There are many laws, contracts, and regulations that may dictate how new business spend and account for investment funds. • That's why many small businesses and startups find they need to hire a lawyer from the beginning to ensure compliance with all legal rules.