The Impact of Statutory Law on Businesses and Individuals

The Impact of Statutory Law on Businesses and Individuals

Statutory law, also known as statute law, is a type of law that is created by the legislature. It is the body of law that is enacted by a legislative body, such as a parliament or congress. Statutory law is in contrast to common law, which is law that is developed by judges through precedent.

Statutory law is an important part of the //ordinarylaw.com/ legal system because it provides a clear and concise statement of the law. This helps to ensure that the law is applied consistently and fairly. Statutory law also helps to keep the law up-to-date with the needs of society.

Statutory law can be found in a variety of sources, including:

  • Statutes: Statutes are the laws that are passed by the legislature. They are typically published in a book of statutes, such as the United States Code or the Canadian Statutes.
  • Regulations: Regulations are rules and regulations that are created by executive agencies. They are typically published in a code of regulations, such as the Code of Federal Regulations or the Alberta Regulations.
  • Local ordinances: Local ordinances are laws that are passed by local governments, such as cities and counties. They are typically published in a book of ordinances or in the local newspaper.

Statutory law can cover a wide range of topics, including:

  • Criminal law: Criminal law defines crimes and sets out the punishments for those crimes.
  • Civil law: Civil law deals with private disputes between individuals or organizations.
  • Administrative law: Administrative law governs the actions of executive agencies.
  • Tax law: Tax law deals with the collection of taxes by the government.

Statutory law is an essential part of the legal system. It provides a clear and concise statement of the law, and it helps to keep the law up-to-date with the needs of society.

Here are some examples of statutory law:

  • The Criminal Code of Canada defines crimes such as murder, assault, and robbery.
  • The United States Code sets out the laws that apply to federal crimes, such as fraud and drug trafficking.
  • The Canada Business Corporations Act governs the creation and operation of corporations in Canada.
  • The United States Internal Revenue Code sets out the rules for paying income taxes in the United States.

Statutory law is a complex and ever-evolving field. However, it is an important part of the legal system that everyone should have a basic understanding of.

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