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This book is about understanding the law of business. Before we begin our study, however,we must answer a basic question:what is law? There are many definitions, ranging from the philosophical to the practical. Pluto said law was social control. Blackstone said it was rules specifying what was right and what was wrong. For our purposes, however we shall define law sanctions that could result in their having do something they would not voluntarily do, such as paying money to someone or going to jail. our society has kinds of rules, but all rules can be considered "law." for example, a rule in baseball says that after three strikes you are out. That is not a law. All laws are rules, but not all rules are laws.

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