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  • Business Law Week 2 Section

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    This document provides definitions and information about business law. It defines a constitution as a set of rules and laws followed by a country. Law is defined as rules that correct social behavior in an abstract manner supported by sanctions. The functions of law are listed as keeping peace, shaping moral standards, promoting social justice, maximizing freedom, and facilitating planning. The document also distinguishes between public and private law, and lists the elements required for a valid contract: agreement, contractual capacity, consideration, and lawful object.

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    This document provides definitions and information about business law. It defines a constitution as a set of rules and laws followed by a country. Law is defined as rules that correct social behavior in an abstract manner supported by sanctions. The functions of law are listed as keeping peace, shaping moral standards, promoting social justice, maximizing freedom, and facilitating planning. The document also distinguishes between public and private law, and lists the elements required for a valid contract: agreement, contractual capacity, consideration, and lawful object.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    11 views5 pages

    Business Law Week 2 Section

    Uploaded by

    nourmaged2004
    This document provides definitions and information about business law. It defines a constitution as a set of rules and laws followed by a country. Law is defined as rules that correct social behavior in an abstract manner supported by sanctions. The functions of law are listed as keeping peace, shaping moral standards, promoting social justice, maximizing freedom, and facilitating planning. The document also distinguishes between public and private law, and lists the elements required for a valid contract: agreement, contractual capacity, consideration, and lawful object.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 5

    Business Law week 2

    section
    Prepared by: Farah El Desouky
    Basic definitions
    ● Constitution: a set of rules and laws which is to be followed by anyone and everyone in the
    country.

    ● Law: a set of rules which correct social behavior in an abstract and general manner and
    which is supported by material sanctions

    Function of law: 1) Keep peace


    2) Shape moral standard
    3) Promote social justice
    4) Maximize individual freedom
    5) Facilitate planning
    Types of legal systems

    Legal Systems

    Latin Law system Common Law system Islamic law system


    Public VS Private Law
    Public law Private Law
    • Constitutional Law • Civil Law
    • Administrative Law • Commercial Law
    • Criminal Law • Maritime Law
    • Labor Law
    • International Public Law
    • Private International Law

    Commercial Law “ Business Law” deal with matters of


    trade such as commercial acts, commerce contracts,
    companies…. Etc.
    Elements of Contracts
    ● Contact: A legally enforceable agreement between two or more parties that creates
    rights and obligations.

    Elements of contracts:

    1. Agreement
    2. Contractual Capacity
    3. Consideration
    4. Lawful Object

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