Despite its wide reach, Law has a number of different aspects, namely, Common, Civil, International and Tax law. There are also specific laws that are associated with particular areas of Law, such as Environmental law and Property law.
Environmental law
Several international agreements and treaties have addressed environmental issues. These agreements are sometimes bilateral or multilateral in nature, and cover a wide variety of issue-areas. These agreements often serve as an effective framework for countries to agree on the governing rules without the need to negotiate every detail.
International law
Generally, international law is a set of rules recognized as binding between states. Its scope reaches across all aspects of national law and includes both public and private international law.
The origins of international law can be traced to antiquity. Traditionally, international law centered on norms governing relations during times of war. However, since the 15th century, a confluence of factors has changed the way international law is understood and applied.
Civil law
Unlike criminal law, which deals with criminal offenses, civil law deals with private disputes between individuals or organizations. It is a system of law that has been adopted by most countries. The system is based on the Roman law system and is intellectualized within that framework.
The system is comprised of a set of rules that regulate private and public relations between individuals. The rules include a code that establishes the rights of private organizations. The codes also define responsibilities of government entities.
Common law
Several factors determine the way in which common law is interpreted and applied. Firstly, the jurisdiction where the case is being heard is important. For example, a court in Canada may not interpret a statute the same way a court in the United States would.
Secondly, the jurisdiction where the case is being heard must be able to find relevant statutes and case law. These factors are important because common law is a judicial system that is based on legal precedents. These precedents are legal documents that describe the decisions made by previous courts.
Tax law
Essentially, tax law is the body of rules and regulations governing government taxation. Taxes are imposed on individuals, businesses, and other entities. Taxes are usually imposed on income, property, or transactions.
Although tax laws are usually specific to a country, they may share some similarities with other countries. One of the most common tax examples is municipal bonds.
Property law
Whether you are buying or selling property, understanding the laws and regulations governing it is crucial to the process. Property law covers a variety of issues, including transfer of land, title, and use of personal items. A good property attorney is well versed in the nuances of state and local law.
Environmental protection
Integrated system of environmental protection is essential for the protection of ecosystem, the progress of mankind, and the preservation of the environment. Environmental protection law outlines the rules and principles that are required to maintain the environment and to protect and restore the environment. It also provides the necessary measures to prevent pollution and to monitor the environment.
Trusts
Using a trust to transfer property from one party to another is a popular estate planning technique. It is also useful to minimize taxes, protect assets from creditors, and preserve family privacy.
In a trust, the grantor gives legal ownership of property to a trustee who uses the asset for the benefit of the beneficiary. The property may be vested or contingent in nature.