law, rule, regulation, precept, statute, ordinance, canon mean a principle governing action or procedure. law implies imposition by a sovereign authority and the obligation of obedience on the part of all subject to that authority. obey the law rule applies to more restricted or specific situations.

Commercial law or business law is the body of law which governs business and commerce and is often considered to be a branch of civil law and deals both with issues of private law and public law. Commercial law regulates corporate contracts, hiring practices, and the manufacture and sales of consumer goods.