BUSINESS LAWS, RULES &

REGULATIONS
INTRODUCTION TO LAW
 LAW

• A 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.
 Three Fundamental Branches of Law

• Criminal Law: Deals with criminal offences. State is one party and
accused the other party.
(Crime & Offence:
Every crime is an offence but every offence may not be a crime.)
• Law of Tort: ‘Civil Wrong’.
• Law of Contracts: Also called ‘Law of Obligations’. The law of
contracts applies to the contracts duly made between the parties
with free consent and in accordance with the terms and conditions
of the contract.
 RULE
• It may be defined as a set of clear and well
understood regulations or principles governing
conduct or procedure within a particular area of
activity. For example, rules of a game, rules of
examination, rules of a class etc.
 REGULATIONS
• It may be defined as an official rule or act of controlling
something or some activity. It may be regarded as an
action or process pre-determined to conduct an activity.
For example, safety regulations, service rules and
regulations, rules and regulations of a game etc.
Thank You