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BUSINESS LAW
CONTENT
- Meaning of Business Law
- Branches of Commercial (Business) Law
- Principles of Agency
- Rights and Obligations of the Employer and Employee
- Government Regulation of Business
Meaning of Business Law
Business law is a set of laws (rules and regulations) governing the operation of business activities. These laws that govern business activities are classified as commercial laws.
Branches of Commercial (Business) Law
Branches of commercial law include the following:
- Law of contract
- Sale of Goods Act
- Law of agency
- Hire purchase laws
1. Law of Contract
A contract is an agreement between two or more persons that is legally binding or forced by law, if there is a breach of the agreement. It is intended by both parties to have legal backing
Contracts can be written or oral, such as buying a house, employing someone at work, etc. Contract is about agreement.
Types of Contract
The following are some types of contract that are common in the business world.
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ClassHall Instructor
Halima Ahmadu