CONSTITUTIONS • The United States Constitution and the constitution of each state establish the fundamental principles and rules by which the United States and the individual states are governed. • The term constitutional law refers to the general limits and powers of the federal and state governments as stated in their written constitutions. • The U.S. Constitution is the supreme law of the land, the foundation for all laws in the United States. • It is the primary authority when we are trying to identify the relationship between business organizations and government. STATUTES • Legislative actions, called statutes, are another important source of law. • The assortment of rules and regulations put forth by legislatures is what we call statutory law. • These legislative acts can be found in the United States Code when they are passed by Congress or in the various state codes when they are enacted by state legislatures.
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