Contact Us

If you still have questions or prefer to get help directly from an agent, please submit a request.
We’ll get back to you as soon as possible.

Please fill out the contact form below and we will reply as soon as possible.

  • Courses
  • Tutoring
  • Home
  • Law, Transactions, & Risk Management
  • Government, Legal System, Administrative Law, & Constitutional Law

Statutory and Common Law

Two major approaches to the creation of law

Written by Jason Gordon

Updated at December 22nd, 2020

Contact Us

If you still have questions or prefer to get help directly from an agent, please submit a request.
We’ll get back to you as soon as possible.

Please fill out the contact form below and we will reply as soon as possible.

  • Marketing, Advertising, Sales & PR
    Principles of Marketing Sales Advertising Public Relations SEO, Social Media, Direct Marketing
  • Accounting, Taxation, and Reporting
    Managerial & Financial Accounting & Reporting Business Taxation
  • Professionalism & Career Development
  • Law, Transactions, & Risk Management
    Government, Legal System, Administrative Law, & Constitutional Law Legal Disputes - Civil & Criminal Law Agency Law HR, Employment, Labor, & Discrimination Business Entities, Corporate Governance & Ownership Business Transactions, Antitrust, & Securities Law Real Estate, Personal, & Intellectual Property Commercial Law: Contract, Payments, Security Interests, & Bankruptcy Consumer Protection Insurance & Risk Management Immigration Law Environmental Protection Law Inheritance, Estates, and Trusts
  • Business Management & Operations
    Operations, Project, & Supply Chain Management Strategy, Entrepreneurship, & Innovation Business Ethics & Social Responsibility Global Business, International Law & Relations Business Communications & Negotiation Management, Leadership, & Organizational Behavior
  • Economics, Finance, & Analytics
    Economic Analysis & Monetary Policy Research, Quantitative Analysis, & Decision Science Investments, Trading, and Financial Markets Banking, Lending, and Credit Industry Business Finance, Personal Finance, and Valuation Principles
  • Courses
+ More

What is Statutory Law? 

State contract law comes in two forms, statutes and common law. 

Statutory law, as the name implies, is determined by statutes (or regulations) passed by the state government. 

What is the Common Law?

Common law, on the other hand, is the law that arises pursuant to judicial interpretation of a given situation or statute. 


How is the Common Law developed?

When a trial court's decision goes up for appeal, the appellate court may review the law to determine whether it was applied correctly and whether the law is constitutional. 

The court's analysis of how the law should be applied in order to meet the legislative intent and remain within constitutional boundaries becomes part of the contract law. This legal interpretation is known as "common law" and becomes a part of the law of contracts for that jurisdiction.

Together these laws make up the body of contract law that applies within a given state's jurisdiction.

Was this article helpful?

Yes
No

Related Articles

  • Freedom of the Press - Explained
  • Office of the Comptroller of Currency - Explained
  • Genesis of law?
  • Office of Management and Budget - Explained



©2011-2021. The Business Professor, LLC.
  • Privacy

  • Questions

Definition by Author

0
0
Expand