In: Operations Management
A contract law is a law governing the agreements made between parties for any kind of transactions or business agreements. In this law the parties agree to some terms and conditions and sign it in written form which acts as a proof for their agreement. In contract law the agreement need to be followed by both the parties without fail. There are laws governing these agreements and any breach of the agreement will result in punishment. The constitution proposed various situations and the procedures to be followed in each of them so that no agreement is subjected to injustice.
A tort law is law safeguarding people getting negatively effected by the action of others. This need not always be physical actions but can also be mental effects such as stress and torture. Any person who effects others negatively will be punished based on the severity of their tort. Torts need not be crimes always . A criminal law is a law safeguarding people against crimes. This law severely punishes the criminals and tries to reduce the crime rates withthe severity of punishments. The constitution of US constantly amends these laws so that they are capable of reducing the crime rate in the country and also proposes laws that can be used to safeguard people of the country.