Site icon Aaj News A588G

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.

Exit mobile version