BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Are based on customs
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Have passed through the legislature
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Are common laws
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Are issued by agencies of the government
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Detailed explanation-1: -Statute law or Statutory law is a law that is created by the legislation, for e.g. the State Legislature. A statute is a formal act of the legislature in written form. A legislature is a kind of assembly with the power to pass, amend and repeal laws. Statutory laws are the basic framework of the modern legal system.
Detailed explanation-2: -Statutory laws are laws set up by the legislature and written down, or codified, into legal books. Federal laws are found in the United States Code, while state laws are found in their respective state’s code books.
Detailed explanation-3: -noun. the written law established by enactments expressing the will of the legislature, as distinguished from the unwritten law or common law. Also called: statute law.
Detailed explanation-4: -The names of some of the statutory compliance used in India include the Trade Unions Act (1926), Payment of Wages Act (1936), The Industrial Disputes Act (1946).