Business Law

Business law is a rule which helps us to regulate and manage our business transactions and activities system. It has direct relation with trade, industry and commerce. Business Law is an important part of national law. In absence of business rules and regulation neither we can regulate and manage our business activities nor can we develop our economy. Because of this law has close relation with our economy. This law making body always develops business rules and regulations in favors of businessman. We have good business rules and regulations. We can develop our economy quickly without business law. It is difficult to manage our day to day business transactions. This is why every country needs and requires business law. In absence of good business law a businessman can’t manage control and lead his business successfully. Like other aspects of our society economic aspect also need specific rules and regulation which has direct relationship with trade, industry, and commerce.eg insurance act, tax act, sale of goods act, agency act etc.