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What is law in the legal system? Law is a system of rules, usually enforced through a set of institutions. It shapes politics, economics and society in numerous ways. Contract law regulates everything from buying a bus ticket to trading swaptions on a derivatives market. Property law defines rights and obligations related to transfer and title of personal and real property, for instance, in mortgaging or renting a home. Trust law applies to assets held for investment and financial security, such as pension funds. Tort law allows claims for compensation when someone or their property is injured or harmed...
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Common topics in this essay:
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