Law is a system of rules, usually enforced through a set of institutions. It shapes politics, economics and society in numerous ways and serves as a primary social mediator of relations between people. Contract law regulates everything from buying a bus ticket to trading on derivatives markets). Property law defines rights and obligations related to the transfer and title ofpersonal (often referred to as chattel) and real property. Trust law applies to assets held for investment and financial security, while tort law allows claims for compensation if a person's rights or property are harmed. If the harm is criminalised in a statute, criminal law offers means by which the state can prosecute the perpetrator. Constitutional law provides a framework for the creation of law,the protection of human rights and the election of political representatives. Administrative law is used to review the decisions of government agencies, while international law governs affairs between sovereign nation states in activities ranging from trade to environmental regulation or military action. Writing in 350 BC, the Greek philosopher Aristotle declared, "The rule of law is better thanthe rule of any individual."
All legal systems deal with the same basic issues, but each country categorises and identifies its legal subjects in different ways. A common distinction is that between "public law" (a term related closely to the state), and including constitutional, administrative and criminal law), and "private law" (which covers contract, tort andproperty). In civil law) systems, contract and tort fall under a general law of obligations, while trusts law is dealt with under statutory regimes or international conventions. International, constitutional and administrative law, criminal law, contract, tort, property law and trusts are regarded as the "traditional core subjects",although there are many further disciplines which may be of greaterpractical importance.
Providing a constitution for public international law, the United Nations system was agreed during World War II
International law can refer to three things: public international law, private international law or conflict of laws and the law of supranational organisations.
Public international law concerns relationships between sovereign nations. The sources forpublic international law development are custom), practice and treaties between sovereign nations, such as the Geneva Conventions. Public international law can be formed by international organisations, such as the United Nations (which was established after the failure of the League of Nations to prevent the Second World War), the , the World Trade Organisation, or the International Monetary Fund.Public international law has a special status as law because there is no international police force, and courts (e.g. the International Court of Justice as the primary UN judicial organ) lack the capacity to penalise disobedience. However, a few bodies, such as the WTO, have effective systems of binding arbitration and dispute resolution backed up by trade sanctions.
Conflict of laws(or "private international law" in civil law) countries) concerns which jurisdiction a legal dispute between private parties should be heard in and which jurisdiction's law should be applied. Today, businesses are increasingly capable of shifting capital) and labour) supply chains across borders, as well as trading with overseas businesses, making the question of which country has jurisdiction evenmore pressing. Increasing numbers of businesses opt for commercial arbitration under the New York Convention 1958.
European Union law Constitutional and administrative law:
The French Declaration of the Rights of Man and of the Citizen, whose principles still have constitutional value
The great end, for which men entered into society, was to secure their property. That right is...