1. Define law. Why law is necessary in modern society?

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 aggregate set of rules set by a man as politically superior, or sovereign to men, as political subjects.” Thus, this definition defines law as a set of rules to be followed by everyone,  regardless of their stature.

Hans Kelsen created the ‘pure theory of law’. Kelsen states that law is a ‘normative science’. In Kelson’s law definition, the law does not seek to describe what must occur, but rather only defines certain rules to abide by.

3. Historical Law Definition

Friedrich Karl von Savigny gave the historical law definition. His law definition states the following theories.

Law is a matter of unconscious and organic growth.

The nature of law is not universal. Just like language, it varies with people and age.

Custom not only precedes legislation but it is superior to it. Law should always conform to the popular consciousness because of customs.

Law has its source in the common consciousness (Volkgeist) of the people.

The legislation is the last stage of lawmaking, and, therefore, the lawyer or the jurist is more important than the legislator.

anticipatory breach of contract

as the name suggests, an anticipatory breach is a breach of contract before the time of performance. so, if a promisor denies to perform his promise and signifies his unwillingness before the time for performance, then it is an anticipatory breach of contract.

and

actual breach of contract

while an anticipatory breach is before the time of performance, an actual breach of contract is on the scheduled time of performance of the contract. an actual breach of contract can be committed either.

hope this . : )

larceny

theft

explanation: