BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Legislation
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A Treaty
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A Statutory Instrument
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Having a debate
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A Statute
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Detailed explanation-1: -The process of law making begins with the introduction of a Bill in either House of Parliament. A Bill can be introduced either by a Minister or a member other than a Minister. In the former case, it is called a Government Bill and in the latter case, it is known as a Private Member’s Bill.
Detailed explanation-2: -An Act of Parliament creates a new law or changes an existing law. An Act is a Bill that has been approved by both the House of Commons and the House of Lords and been given Royal Assent by the Monarch.
Detailed explanation-3: -Though the two are sometimes used interchangeably, there is a subtle difference. An act is a legislative proclamation modifying the existing body of law, while statute is the law itself. An act may create law, for example, by writing an entirely new law.