The description of business activities in this definition, if further elaborated, will be as follows:
- Business is an activity that is routinely carried out because it is said to be a job, a livelihood, even a profession.
- Business is an activity in trade
- Business is conducted in order to make a profit
- Business is carried out by both individuals and companies.
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:
- The parties to the business deal need something more than promises and good faith.
- 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 … Read More