Which of the following statements is True?

A) Common law is a body of laws based on customs, traditions, and judicial precedent rather than on legislative statute.
B) Common law and business law are essentially the same concepts.
C) Labor law and employment law are essentially the same concepts.
D) Statutory law is a body of laws based on customs, traditions, and legislative statute.

Common law is a body of laws based on customs, traditions, and judicial precedent rather than on legislative statute. This means that common law is developed through the decisions made by judges in previous court cases, and these decisions are used as a basis for future cases. It is distinct from statutory law, which is created through legislation passed by a legislative body such as Congress. Business law and labor law, on the other hand, are distinct areas of law that deal with different topics.