The main legal systems around the world according to the textbook are:

Civil law - Also known as code law and refers to a complete plan of rules that are organized as a single structure or code. When the government is enacting a civil law, all the laws and rights are written down and used to govern the society. Majority of the countries today make use of civil law and include many who were once part of Roman Empire like Italy, Germany and France (Dlabay & Scott, 2010, p.193).

Common law - The establishment of laws approach in this case involve case by case approach and it is a legal system that relies on accumulation of decisions made in prior cases. England developed its laws by this approach and also common laws applicable in the United States evolved from the British tradition (Dlabay & Scott, 2010, p.193). Common law influences the decision-making process in unusual cases where the outcome cannot be determined based on existing statutes or written rulesof law. Equity and fairness is what characterized common law legal system and it plays a significant influence in business law where fairness is vital (Dlabay & Scott, 2010, p.194).

Statutory law - These are laws that have been enacted by a body of lawmakers and governs the legal entities of acity,state, orcountryby way ofconsent. The United States congress, the British parliament and the Germany Reichstag are responsible to passing laws that will govern their respective citizens. Statutes laws are usually enacted to add to existing law or changing them to fit the current situation and its demand (Dlabay & Scott, 2010, p.194).

Reference

Dlabay,L., & Scott,J.C. (2010). Legal agreements around the world. InInternational business(4thed., pp.193-194). Boston, MA: Cengage Learning.

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