Conventional law refers to a type of law that is created through agreements among individuals or groups. It is based on the principle that agreements serve as binding laws for those who enter into them. For example, the articles of association of a company outline the rules and regulations that govern its operations and are considered a form of conventional law.
Conventional law is commonly used in various legal contexts, particularly in areas such as corporate law and partnership law. It plays a crucial role in defining the relationships and responsibilities of parties involved in agreements. Users can often manage these agreements using legal templates, such as those provided by US Legal Forms, which are drafted by qualified attorneys.
Here are a couple of examples of abatement:
One example of conventional law is the articles of association for a corporation, which detail how the company will be governed and the rights of its shareholders. Another example is a partnership agreement, which specifies the roles and responsibilities of each partner in a business venture.
| Term | Definition | Key Differences |
|---|---|---|
| Statutory Law | Laws enacted by legislative bodies. | Conventional law is based on agreements, while statutory law is created through legislation. |
| Common Law | Laws developed through court decisions and precedents. | Common law evolves from judicial rulings, whereas conventional law arises from mutual agreements. |
If you are entering into an agreement that may involve conventional law, it is important to ensure that the terms are clear and mutually understood. Consider using legal templates from US Legal Forms to draft your agreement. If the situation is complex or involves significant obligations, consulting a legal professional is advisable.
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