STATUTORY Meaning and
Definition
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Statutory is an adjective used to describe something that is established, required, or regulated by law. It refers to the set of rules or regulations that are formally enacted and enforced by a legislative body or governing authority.
In a legal context, statutory refers to laws that are created by the legislative branch of government, such as statutes or acts. These laws are binding and must be followed by individuals and organizations within a specific jurisdiction. Statutory laws cover a wide range of subjects, including criminal offenses, civil rights, taxation, environmental protection, and business regulations.
When something is deemed statutory, it implies that it has a legal basis and is backed by the authority of the law. For example, statutory rights are the legal entitlements guaranteed to individuals and are enforceable by law.
In business or organizational settings, statutory requirements may pertain to various aspects such as financial reporting, corporate governance, employment practices, and health and safety standards. Compliance with these statutory obligations is mandatory and failure to adhere to them can result in legal penalties or sanctions.
Overall, statutory is related to the legal framework governing a particular jurisdiction, and it signifies that the subject or matter being referred to has a basis in and is in accordance with the law.
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Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
Top Common Misspellings for STATUTORY *
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Other Common Misspellings for STATUTORY
Etymology of STATUTORY
The word "statutory" originates from the Latin term "statutarius", which is derived from the word "statutum" meaning "statute" or "law". In English, the term appeared in the late 16th century, referring to something prescribed by statute or established by law.
Similar spelling words for STATUTORY
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