Different functions of business law performs
Illustrate what are the different functions of business law performs?
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Business law can be defined as rules that govern business relationships.
DuPlessis and O’Byrne suggest that business law performs many functions, including:
• Defining general rules of commerce;
• Protecting business assets as well as business ideas;
• It provides mechanisms which allow business people to determine how they will participate in business ventures and how much risk they will bear;
• Make sure that losses are tolerate by those responsible for causing them;
• Make possible planning by certify that assurance is honoured.
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