| Business in general is the backbone of a | | | | crimes-and would be tried in a criminal court |
| functioning capitalistic society. Business | | | | rather than a civil court. Laws, such as those |
| transactions, contracts and the building of | | | | against insider trading, that affect the core of the |
| corporations are what makes the United Sates | | | | economy on a huge level, would not be tried |
| tick. But imagine a world in which business was | | | | under regular business law. The following things |
| done, as usual, but without any sort of oversight. | | | | are routinely a part of commercial law lawsuits: |
| There would be no contracts, because there | | | | Corporate contracts-contract law is one of |
| would be no entity that was in place to uphold | | | | the biggest, if not the biggest, facet of business |
| contracts and force people to abide by their | | | | law. Lawyers in this field will draw up contracts, |
| word. There would be massive corruption and | | | | supervise their signing and then file lawsuits on |
| scandal as every transaction that occurred would | | | | behalf of a client if a contract is breached. And |
| be without repercussion. It is a sad fact that, | | | | now days, it seems as if just about everything |
| when left to their own devices, most people take | | | | involves a contract from renting a video to buying |
| advantage of no only the system in place but of | | | | a major corporate building. |
| each other. This is why business law exists. | | | | Hiring practices-hiring is a tricky issue. There |
| Business law, also known as commercial law, it | | | | are tons of areas of government reregulation |
| the body of law the governs business and | | | | that can get an employer in serious trouble if he |
| commercial transactions and is considered to be a | | | | or she fails to abide strictly by them. There are |
| branch of civil law. It deals with business issues | | | | also many legal issues involved with letting |
| affecting both the private and public sector. | | | | employees go. |
| What Business Law Includes | | | | Manufacture and sales of consumer |
| This type of law has a wide range of practice | | | | goods-there are many, many things that go into |
| areas within its umbrella. There are certain, serious | | | | getting a product placed on the market. There |
| breaches concerning business that are | | | | are tests and contracts and codes that all must |
| criminal-these are known as white collar | | | | be put into action. |