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Ans: Business law which is also known as commercial law refers to certain the rules and regulations that all businesses are supposed to follow. The law governs how a particular business or organization must start, buy, manage, sell or close their business.
The main objective of business law is to resolve disputes between two or more parties, protect rights and liberties and maintain order.
Ans: When a business or a business has legal title over something, it is referred to as property. The property can be tangible or intangible. Examples of the property would be vehicles, real estate, equipment, furniture, etc.
Ans: Business law is important for students so that the students who are pursuing a career in this field have an understanding of how the real world of business works. Further, it will make them better in making a decision on complex matters. It is important to understand all the existed laws associated with the business so they can control certain unethical activities.
Ans: The branches of business law are stated below:
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