What is the distinction between common law and statutory law?

Common law and statutory law are two distinct systems of law that are used in California. Common law refers to a system of law that is based on the principles of statutes, court decisions, and custom. This law is often derived from case law, or the decisions of judges in previous court cases. Statutory law, on the other hand, is law that has been created by legislative bodies like Congress and state legislatures. This type of law is enacted when a legislature passes a bill or a piece of legislation that is then signed into law by the executive branch. When it comes to business transactions, both common law and statutory law can apply. Common law principles can be used to decide how to interpret and apply a contract between two or more parties, while statutory law will determine what type of penalties are imposed when a contract is breached. In addition, statutory law may provide specific provisions that must be included in contracts. For example, California statutes provide certain protections for consumers when entering into purchase agreements, and a contract must adhere to those provisions in order to be enforceable. In summary, the distinction between common law and statutory law in California is that common law is based on a history of previously decided cases and court decisions, while statutory law is created by the legislature and signed into law. When it comes to business transactions, both types of law can apply, and knowledge of both systems is important when entering into legally binding agreements.

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What is the distinction between common law and statutory law?

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