methods of resources allocation
COLLEGE OF BUSINESS EDUCATION
DEPARTMENT OF ACCOUNTANCY
INDIVIDUAL ASSIGNMENT
DIPLOMA IN ACCOUNTANCY
Answer:
Business law is the branch of private law of which regulates the business relations and related activities.
Business may be defined as any legal activity involving buying and selling for the aim of profit making.
Business law includes Company law, Sales law, Contracts law, Banking law, Insurance law, Law of agency, Law of partnership etc.
Business law as other laws have their sources or places where they may be found, these are:
Constitution
It is a set of fundamental principles or established precedents according to which a state or other organization is governed.
It is the mother of all laws in the state because a constitution defines the principles upon which the state is based, the procedure in which laws are made and by whom.
Common law
Common law is a legal system that is largely formed by the decisions previously made by courts and not imposed by legislatures or other government officials.
In another sense, common law is the basis of the legal system in England and many other English-speaking countries, especially those that were former British colonies, not aonly former British colonies but also English-speaking countries have legal systems based on common law.
These are principles and rules of action, embodied in case law rather than legislative enactments, applicable to the government and protection of persons and property that derive their authority from the community customs and traditions that evolved over the centuries as interpreted by judicial tribunals.
Legislative
A legislature is a decision making organization usually associated with national government, did has the power to enact, amend and repeal laws.
Due to the power of enacting the law, many business laws are made by it. These are such as Public Procurement Act, Sale of Goods Act, Public finance Act, Business Activities
DEPARTMENT OF ACCOUNTANCY
INDIVIDUAL ASSIGNMENT
DIPLOMA IN ACCOUNTANCY
Answer:
Business law is the branch of private law of which regulates the business relations and related activities.
Business may be defined as any legal activity involving buying and selling for the aim of profit making.
Business law includes Company law, Sales law, Contracts law, Banking law, Insurance law, Law of agency, Law of partnership etc.
Business law as other laws have their sources or places where they may be found, these are:
Constitution
It is a set of fundamental principles or established precedents according to which a state or other organization is governed.
It is the mother of all laws in the state because a constitution defines the principles upon which the state is based, the procedure in which laws are made and by whom.
Common law
Common law is a legal system that is largely formed by the decisions previously made by courts and not imposed by legislatures or other government officials.
In another sense, common law is the basis of the legal system in England and many other English-speaking countries, especially those that were former British colonies, not aonly former British colonies but also English-speaking countries have legal systems based on common law.
These are principles and rules of action, embodied in case law rather than legislative enactments, applicable to the government and protection of persons and property that derive their authority from the community customs and traditions that evolved over the centuries as interpreted by judicial tribunals.
Legislative
A legislature is a decision making organization usually associated with national government, did has the power to enact, amend and repeal laws.
Due to the power of enacting the law, many business laws are made by it. These are such as Public Procurement Act, Sale of Goods Act, Public finance Act, Business Activities