More from Merriam-Webster on law
Northwestern Law: Northwestern Pritzker School of Law
Law and commerceCompany law sprang from the law of trusts, on the principle of separating ownership of property and control. The law of the modern company began with the Joint Stock Companies Act 1856, passed in the United Kingdom, which provided investors with a simple registration procedure to gain limited liability under the separate legal personality of the corporation. Social security law refers to the rights people have to social insurance, such as jobseekers’ allowances or housing benefits. This became the basis for the four principles of negligence, namely that Stevenson owed Donoghue…