Wednesday, March 16, 2011

Classification Of Law

Substantive law vs procedural law: The law creates substantive, defines and regulates legal rights and obligations. Procedural law defines the rules used to apply the substantive law.

common law against statute law: common law is defined by the courts. Statutory law is passed by legislatures. For example, Securities Act of 1933 is law.

Criminal law against civil law, criminal law is between private parties and society. Civil law is between private parties only.

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