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Law is a system of rules that are enforced through social institutions to govern behavior. Laws can be made by a collective legislature or by a single legislator, resulting in statutes, by the executive through decrees and regulations, or by judges through binding precedent, normally in common law jurisdictions. Private individuals can create legally binding contracts, including arbitration agreements that may elect to accept alternative arbitration to the normal court process. The formation of laws themselves may be influenced by a constitution, written or tacit, and the rights encoded therein. The law shapes politics, economics, history and society in various ways and serves as a mediator of relations between people.

The Company or Business Establishmentis an establishment (a factory or an assembly plant or retail store or warehouse etc.) where business is conducted, goods are made or stored or processed or where services are rendered business establishment

Verb: Claims (3rd person present)
1. state or assert that something is the case, typically without providing evidence or proof. “the Prime Minister claimed that he was concerned about Third World debt” synonyms: assert, declare, profess, maintain, state, hold, affirm, avow, aver, protest, insist, swear, attest; More argue, contend, submit, move; allege; informalmake out; archaicavouch; rareasseverate, represent “Davies claimed that she was lying” assert that one has gained or achieved (something). “his supporters claimed victory in the presidential elections”
2. formally request or demand; say that one owns or has earned (something). “if no one claims the items, they will become Crown property” synonyms: lay claim to, say that one owns, assert ownership of, formally request; pretend to “if no one claims the items, they will become Crown property”

Debt Collection is activity of making individuals and businesses pay debts, usually ones that they have not paid on time or that they are refusing to pay
About the ‘Debt Collector’ – A company or agency that is in the business of recovering money that is owed on delinquent accounts. Many debt collectors are hired by companies to which money is owed by debtors, operating for a fee or for a percentage of the total amount collected.

Definition: Any method of resolving disputes other than by litigation. Abbreviated as ADR. Public courts may be asked to review the validity of ADR methods, but they will rarely overturn ADR decisions and awards if the disputing parties formed a valid contract to abide by them. Arbitration and mediation are the two major forms of ADR.

Definition: It is generally refers to one of several different processes used to resolve disputes between parties, including negotiation, mediation, arbitration, collaborative law, and litigation.
Methods of dispute resolution include: lawsuits (litigation), arbitration, collaborative law, mediation, conciliation, many types of negotiation and facilitation
One could theoretically include violence or even war as part of this spectrum, but dispute resolution practitioners do not usually do so; violence rarely ends disputes effectively, and indeed, often only escalates them.

Definition: Law provides a rich source of scholarly inquiry into legal history, philosophy, economic analysis and sociology. Law also raises important and complex issues concerning equality, fairness, and justice.
An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute.

Mediation also known as conciliation.It is the fastest growing ADR method. Unlike litigation, mediation provides a forum in which parties can resolve their own disputes, with the help of a neutral third party. Mediation depends upon the commitment of the disputants to solve their own problems. The mediator, also known as a facilitator, never imposes a decision upon the parties. Rather, the mediator’s job is to keep the parties talking and to help move them through the more difficult points of contention. To do this, the mediator typically takes the parties through five stages. Arbitration is the submission of a dispute to an unbiased third person designated by the parties to the controversy, who agree in advance to comply with the award—a decision to be issued after a hearing at which both parties have an opportunity to be heard.

Law

noun: the law

1. the system of rules which a particular country or community recognizes as regulating the actions of its members and which it may enforce by the imposition of penalties.
“shooting the birds is against the law”

synonyms: rules and regulations, system of laws, body of laws, constitution, legislation, code, legal code, charter; jurisprudence “the law of the land”

antonyms: anarchy

2. a rule defining correct procedure or behaviour in a sport.
“the laws of the game”

3. a statement of fact, deduced from observation, to the effect that a particular natural or scientific phenomenon always occurs if certain conditions are present. “the second law of thermodynamics”

4. the body of divine commandments as expressed in the Bible or other religious texts.

Origin

Old English lagu, from Old Norse lag ‘something laid down or fixed’, of Germanic origin and related to lay.

The Greek philosopher Aristotle declared, “The rule of law is better than the rule of any individual. The author Anatole France said in 1894, “In its majestic equality, the law forbids rich and poor alike to sleep under bridges, beg in the streets, and steal loaves of bread.”