Definition:
A statute is a written piece of legislation; a law passed by a legislative body. The term statutory refers to laws or legislation.
Some examples of the uses of these terms:
- Statute of Limitations: A defined time period during which legal action may be taken.
- Statute of Frauds, which designates that certain types of contracts must be in writing in order for them to be enforceable.
- Statutory Employee: Someone who is considered by law to be an employee.
