Legal Definition of Maxim: Principles and rules generally recognized and accepted because they have been in use and have proved to be fair and reasonable over long periods of time | Discover the significance of legal maxims in business practices. Learn how these fundamental principles ensure fairness, transparency, and ethical conduct. Explore examples such as actus non facit reum nisi mens sit rea and in dubio pro reo. Enhance your decision-making process and mitigate legal risks by incorporating maxims. Find out more in this comprehensive guide