rules and regulations

Definition

Real estate licensing authority orders that govern licensees' activities; they usually have the same force and effect as statutory law.

Use this term in a sentence

The rules and regulations will give an individual or company guidelines to follow when entering into a specific transaction or transactions.

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Rules and regulations are made to enforce laws, either civil or otherwise( examples could be the boy scouts have a set of their own rules and/or regulations).

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When buying or selling property, there are certain rules and regulations that must be followed to be sure that the business transactions are being treated fairly and within the law.

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