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Tags: law
Categories: Economics & Finance
An act of law refers to an act that is intended to create, transfer, or extinguish a right and which is effective in law for that purpose. It is a legal event initiated not by the act of individual. For example, transfer of a title can be result of act of law, whereas sale of a property results from the act of individual.
(source: http://definitions.uslegal.com/a/act-of-law/)
