Law is a system of rules created and enforced through social or governmental institutions to regulate behavior, with its precise definition a matter of longstanding debate. It has been variously described as a science and the art of justice.
In terms of Section 3(2)(i) of the Companies Act, 1956, a company means “A company formed and registered under company Act 1956 o r an existing company. An existing company means a company formed and registered under any of the former companies Act.”