“Business and finance law” is a system of rules that are created and enforced through social or governmental institutions to regulate behavior. Law as a system helps regulate and ensure that a business community shows respect, and equality amongst themselves, and toward society. State-enforced laws can be made by a collective legislature or by a single legislator, resulting in statutes, by the executive through decrees and regulations, or established by judges through 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 business 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 business relations between people.