Definition of law is a rule of conduct developed by the government or society over a certain territory. Law follows certain practices and customs in order to deal with crime, business, social relationships, property, finance, etc. The Law is controlled and enforced by the controlling authority. Let us explore the various definitions of law by different authors in detail.
Various Definitions of Law
There are broadly five definitions of Business Law. Let’s walk through each of them briefly.
1. Natural School
In the natural school of thought, a court of justice decides all the laws. There are two main parts of this definition. One, to actually understand a certain law, an individual must be aware of its purpose. Two, to comprehend the true nature of law, one must consult the courts and not the legislature.
2. Positivistic Definition of Law
John Austin’s law definition states “Law is the