Understanding what law is

Coexistence in a society must be regulated in a binding and permanent manner in order to avoid social conflicts. This happens through certain systems of order, also called law. In the meantime, law encompasses more and more areas of life and creates legal certainty.

Law is divided into different areas. Law describes a system of rules with a general claim to validity. It is created by the legislative institutions and, if necessary, by the law enforced. The law and criminal law provide for state coercive measures in the event of non-compliance with the rules of conduct. Businesses such as https://medium.com/@playtime/best-toys-gifts-for-11-year-old-girls-fabd949193f2 have to comply with business laws.

Which law is applicable where?

Objective law describes the not comparable part of the totality of social norms. Subjective law describes the individual’s authority. The common law (common law example) is a system based on traditions, unwritten law. The state-determined, objective law is a system that has temporally and spatially actually valid and guaranteed legal norms and is provided with legitimate coercive power. The legally protected individual rights, including civil rights, are referred to as subjective rights. Substantive law includes all legal norms that relate to the relationship between individuals as such and between the individual and the state. Formal law deals with the process of enforcing substantive law.

Private business law and economic administrative law

To make the economy right are among the matters of economic activity that are on the one hand defined by the rules of private business law and on the other hand the economic administrative law. Private business law stands for laws and ordinances that set a framework for people and companies involved in the business. Economic administrative law regulates the relationship between the parties involved in economic life and the state. This has an influence on processes such as approval, approval, monitoring, promotion, and control. Commercial law includes, for example, commercial law, company law, antitrust law, competition law, and commercial law protection. Commercial administrative law includes commercial law, foreign trade law, public price law, currency, banking, stock exchange law, subsidy law, etc. International commercial law regulates the economy on an international level.