BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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common law
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positive law
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Detailed explanation-1: -The Constitution states the rules and regulations to be followed, but Constitutionalism states the restrictions against the government. A country can exist without the Constitution, whereas it can never exist without Constitutionalism as it defines the laws and behaviour of governance.
Detailed explanation-2: -Sources of Business law •Customs of History(Trade) •Mercantile Law •Principles of Equity •Law of Merchants •British Statutory law •Indian Statutory laws Page 3 The main sources of business law in India are: Statutory Law: Legislation or statutory is the most important source of law.
Detailed explanation-3: -To sum up, the key difference between Constitution and Law is that the Constitution refers to all rules and regulations in a document governing a country; in contrast, the law refers to one rule or regulation that the government makes for the welfare of its citizens.