CORPORATE AND BUSINESS LAWS NOTES

Institution UNIVERSITY
Course CORPORATE AND BUSINE...
Year 1st Year
Semester Unknown
Posted By Mwalimu Evans Okoyo.
File Type pdf
Pages 355 Pages
File Size 9.56 MB
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Description

‘Law’ means any rule of conduct, standard or pattern, to which actions are required to conform; if not conformed, sanctions are imposed. When we speak of the law of a State, we use the term ‘law’ in a special and strict sense. In this sense, the term ‘law’ is defined in Oxford English Dictionary as “the body of rules whether proceeding from formal enactment or from custom, which a particular State or community recognises as binding on its subjects or members”. These are rules which are recognised and acted on by courts of justice. Law may also be defined as rule of conduct of persons (both natural and artificial), imposed upon and enforced among the members of a given State.
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