7 The Law of Obligations
The law of obligations comprises the law of contracts, the law of torts, and the law of those miscellaneous obligations which are neither contractual nor delictal. It may be convenient to consider under the same head the law of insolvency, inasmuch as the essential significance of insolvency is to be found in its operation as a method of discharging debts and liabilities. Alternatively, however, this branch of law may be included in the law of property, inasmuch as it deals with one mode of divesting proprietary rights in general. In the law of obligations is also to be classed the law of companies, this being essentially a development of the law of the contract of partnership. Under the head of companies are to be comprised all forms of contractual incorporation, all other bodies corporate pertaining either to public law or to special departments of private law with which they are exclusively concerned. The general doctrine as to corporations is to be found in the introductory department of the law.