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Law is a system of rules and guidelines, usually
enforced through a set of institutions. It shapes politics, economics and society
in numerous ways and serves as a social mediator of relations between people.
Contract law regulates everything from buying a bus ticket to
trading on derivatives markets. Property law defines rights
and obligations related to the transfer and title of personal (often referred to
as chattel) and real property. Trust law applies to assets
held for investment and financial security, while tort law
allows claims for compensation if a person's rights or property are harmed. If the
harm is criminalised in a statute, criminal law offers
means by which the state can prosecute the perpetrator. Constitutional law
provides a framework for the creation of law, the protection of human rights and
the election of political representatives. Administrative law
is used to review the decisions of government agencies, while international
law governs affairs between Sovereign States in activities ranging
from trade to environmental regulation or military action.
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