Which term describes law enacted by legislative bodies?

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Prepare for the TAMU MGMT311 Exam with comprehensive resources. Engage in multiple choice questions and in-depth explanations to ensure success. Equip yourself with the knowledge needed to excel in the legal and social business environment.

Statutory law refers specifically to laws that are enacted by legislative bodies, such as Congress at the federal level or state legislators at the state level. These laws are written and codified, providing clear legal standards and requirements that govern various aspects of society and business. Legislative bodies create statutory laws through formal processes that include drafting, debating, and voting on proposed legislation. Once enacted, statutory laws are published and become part of the legal framework that individuals and businesses must adhere to.

In contrast, uniform laws are designed to harmonize legal standards across different jurisdictions but are not automatically part of law without legislative action in each state. Case law arises from judicial opinions and interpretations of statutes, meaning it is not directly created by legislative bodies. Ordinances are specific types of laws enacted by local government entities, which apply only within certain municipalities or counties and are not the broader statutory laws created by state or federal legislatures.