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Distinguishing Probate and Will Process, Real Estate Law, and Corporate Law Probate is all about establishing proof of the authenticity of your will in court and, at the same time, the process also ascertains that your assets are correctly distributed to your heirs and creditors, if any, in which case most probate proceedings are slow and expensive to undertake; however, if your will is appropriately executed and up-to-date, then the process is likely to be finished on a faster rate and with less expense. The process also includes the setting up of deadlines for your appointed representative to comply so he/she can notify your heirs and creditors of your death, as well as transferring your assets to the designated heirs and creditors. One particular benefit that can come out of probate is with regards to the time allowed for creditors to collect from your estate, which is just about four months, instead of a year. Real estate law is a procedural means of determining who may own and use the land and buildings in it, and the process details the following: categorizing if the real property is residential or commercial, including the manner of ownership, sole, conjugal, or corporate, and verifying how the real estate property is used, whether rented or personal, as well as establishing if the purchase of the land was properly transacted and documented, including ownership of the land, whether owned solely, corporate or pass between family members through estate planning. Another point in case in real estate law concerns the purposes of which land is used, which must comply with local zoning laws and that landowners may not incur damage to the surrounding environment.
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When the rights, relations, and conduct of persons and businesses, who are engaged in commerce, merchandising, trade, and sales, are being presented through legal proceedings, the component of law that is being applied to is referred to as commercial law, which can also be called business law or corporate law. The following scopes of application are covered by commercial law: principal and agent, carriage by land and sea, merchant shipping, guarantee, marine, fire, life, and accident insurance, bills of exchange/negotiable instruments/contracts and partnership. At the same time, commercial law may also be employed to regulate corporate contracts, hiring practices, and the manufacture and sales of consumer goods.
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Before the creation of the Uniform Commercial Code (UCC), the administration of commercial law in each state was found to have conflicting interests from state to state, which resulted into a disruption of the flow of interstate commerce, thus, the UCC was provided for by a non-governmental body to standardize the statutes that are dealing with commercial, which allows each state is adopt.