STATUTE, [Latin , to set.]
1. An act of the legislature of a state that extends its binding force to all the citizens or subjects of that state, as distinguished from an act which extends only to an individual or company; an act of the legislature commanding or prohibiting something; a positive law. Statutes are distinguished from common law. The latter owes its binding force to the principles of justice, to long use and the consent of a nation. The former owe their binding force to a positive command or declaration of the supreme power. statute is commonly applied to the acts of a legislative body consisting of representatives. In monarchies, the laws of the sovereign are called edicts, decrees, ordinances, rescripts, etc.
2. A special act of the supreme power, of a private nature, or intended to operate only on an individual or company.
3. The act of a corporation or of its founder, intended as a permanent rule or law; as the statutes of a university.