Codifications date back millennia, with one early instance being the Babylonian Codex Hammurabi. Modern civil law techniques primarily derive from authorized codes issued by Byzantine Emperor Justinian I in the 6th century, which have been rediscovered by eleventh century Italy. Roman law within the days of the Roman Republic and Empire was heavily procedural, and lacked a professional authorized class.

The mission of the Law Library of Congress is to supply authoritative legal research, reference and instruction providers, and access to an unequalled collection of U.S., overseas, comparative, and worldwide law. The most distinguished economic analyst of law is 1991 Nobel Prize winner Ronald Coase, whose first main article, The Nature of the Firm , argued that the explanation for the existence of corporations (companies, partnerships, and so on.) is the existence of transaction prices. Rational individuals commerce by way of bilateral contracts on open markets until the costs of …