• Wed. May 18th, 2022

Understanding Business and Business Law


Sep 24, 2020
Understanding Business and Business Law

Previously we have studied and know some laws about business, so now is the time for us to study the meaning of business and business law
Business Law

Healthy economic systems and business activities often depend on a sound trading / business / business system so that people need a set of rules that can definitely be enforced to ensure the occurrence of the trade / business system.
These legal rules are needed because:

  1. The parties to the business deal need something more than promises and good faith.
  2. There is a need to create legal measures that can be used if one of the parties does not carry out his obligations, does not fulfill his promise.

This is where business law comes into play. The term business law is a translation of the term “business law”. Business Law (Business Law) = law relating to a business.
In other words, business law is a set of legal rules (including its enforcement) which regulates the procedures for conducting trade, industrial or financial affairs or activities related to the production or exchange of goods or services by placing the money of entrepreneurs at certain risks with certain businesses. with the motive (of the entrepreneur) is to make a profit.

Meanwhile, according to business law: in modern human perception, business law is a set of legal principles that are held to regulate and resolve problems that arise in human activities, especially in the field of trade.

From the above explanations, it can be said that business law is important / needs to be known / studied by economic / business actors because every business activity / activity is always regulated by law. For this reason, business / economic actors need to know / learn about it so that their business can run smoothly so that they do not violate the law or do illegal business which causes losses to both the business actors themselves (producers) and the community (consumers). Because after all the law is made with the aim of regulating the social life of the community so that it is orderly, safe, peaceful and peaceful.
as for the ethics that we must learn in doing business which will be discussed in the next chapter