Florida Broker Practice Exam

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What is common law?

A law enacted by the legislature
A law based on usage, general acceptance, and custom
A municipal ordinance
A type of statutory law

The correct answer is: A law based on usage, general acceptance, and custom

Common law refers to a body of unwritten laws based on legal precedents established by court decisions. It is characterized by its foundation in usage, general acceptance, and custom, rather than being enacted through formal legislative processes. This legal framework develops over time as judges make rulings in individual cases, which are then referenced in future cases, creating a consistent application of law based on prior judgments. This legal tradition is particularly notable in the U.S. and British legal systems, where it coexists with statutory law, which is written and enacted by legislative bodies. The importance of custom and established practices in common law means that it evolves based on societal norms and judicial interpretations, rather than solely relying on statutory provisions. In contrast, the other options relate to laws that are explicitly written and enacted through formal processes or local regulations, which do not characterize the inherent nature of common law.