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Laws cover almost all aspects of our life. Based on the scope of activities covered, laws can be classified as :
1. Contract law: Purchase and sale of products and services, irrespective of their value.
2. Property law: sale, purchase, renting of real estate - residential, commercial property and land. Since transactions are of high value, it is important to study all the laws properly, before finalising a deal.
3. Tort law : allows damages to be claimed in case of damage or injury to property or person.
4. Criminal law: if the harm or damage is covered by the penal code, the case will be tried under criminal law.
5. Trust law : assets held for investment or financial security like mutual funds or pension funds. This includes disclosure norms, extent to which the trust can invest in unsafe investments.
6. Constitutional law : election of people's representatives locally and nationally, formulation of laws, human rights.
7. International law: independent nations agree to follow these law in various areas like trade and environment.