How does business law apply to everyday life? What are some examples?
Jan Meriss Alfonso Assistant at Ascent Law LLC How does business law apply to everyday life? What are some examples? Business law Business law is the set of regulations and rules that govern how businesses operate and interact with each other in terms of legal structure, financing, and so on. What can be applied to everyday life Many business concepts can be applied to everyday life. For example, when getting married, "pre-nuptial agreements" are used to protect assets in the event of a divorce. This just means that each spouse outlines what they plan on taking with them should they ever leave the marriage and never return or get back together: bank accounts, cars, etc. Product liability For another example, "product liability" is a concept that protects consumers from manufacturers getting out of responsibility for defective products by stating that if someone was injured by an item (or their property was damaged), it's ultimately up to the company to prove t...