Real Estate Council of Alberta Fundamentals Practice Exam

Statute law is the correct answer because it refers specifically to laws that are formally enacted by legislative bodies, such as federal or provincial governments. These laws are written, codified, and established through the legislative process, meaning that they are created and approved through a structured method involving elected representatives. Statute law serves as a foundation for legal systems and can cover a wide range of topics, including criminal law, business regulations, and property laws.

In contrast, common law is developed from judicial decisions and precedents rather than legislative enactments. Case law refers to the body of law created by the outcomes of previous court cases, which judges use to make their decisions; it stems from interpretations of statutes and common law principles rather than direct enactment.

Regulatory law involves rules established by governmental agencies based on existing statutes; it is derived from the authority granted to these agencies to implement laws but is not itself enacted by federal or provincial legislatures. Therefore, while regulatory law is important, it arises from statute law, which is the primary source created directly by legislative bodies.