May arise as result of: negligent production of goods causing injury to consumer, careless professional service causing physical or economic loss, unsafe operating premises. Injuries in a myriad of activities or through action of employees. Contract law: concerned with the basis of business and application of day-to-day operations of business organizations: facilitates purchase and sell of goods, facilitates employment of staff, facilitates reduction of risk through insurance contract. Contractual relationship and law that controls other business relationship include: bailment, labor law and employment, negotiable instruments, consumer protection and law relating to restrictive trade practices. Land law: area of law that covers the purchase or lease of premises or the financing of the purchase and buildings, these include: securing of debt in credit transactions, bankruptcy law. International trade: environment law, protection of intellectual and industrial property. Law: set of rules that enable people to live together and respect each others rights.