What Are Business Laws?

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Business laws are those laws that are part of a body of law that covers commercial practices and operations. These operations are also commonly just referred to as commercial or corporate law. It is a vast, sprawling body of law that comprises many industries.

Specifically, business laws apply to rights, relationships and conduct of people and businesses or corporations that are involved in sales, commerce, trading and merchandising. From a legal standpoint it comprises both public law and private law as a part of civil law in general.

Business laws include those that determine who principals and agents are within a corporate dealing. They cover how merchants ship items to and from the United States or between states. They cover insurance policies such as those for fire, life, marine and accident insurance. Partnership bills are also handled under various business laws.

Within corporations and businesses themselves business law regulates contracts, hiring employees, making and selling goods and other business operations. The Uniform Commercial Code in the US has been adopted by all 50 states, Washington D.C and all U.S. territories. It is the body of commercial laws that all states agree to abide by.

The United States Congress regulates these uniform laws but some states are allowing to modify them as needed. Other forms of uniform business laws have been worked on, but to date only UCC laws apply universally throughout the country.

Business law also covers safety on the job for employees, as well as how employees interact with customers. It determines how businesses are formed in a legal capacity. They may be partnerships, limited liability companies or corporations. Although not formally incorporated, sole proprietors are also covered under various business laws and regulations. Wills and estates, too, are considered to fall under this broad legal umbrella.