This work presents practical applications of the economic theory of law in individual essays. The essays were selected to highlight the multitude of possible applications as well as their immediate political and legal relevance. Analyses and policy proposals are provided regarding the destruction of drug markets, the structure of civil proceedings, the control of corporate governance and its compensation, the choice of efficient liability systems, the deterrence of crimes, and the regulation of the gambling industry. Within the framework of these applications, the concepts of Nobel Prize-winning authors in the field, such as Coase, Becker, Stigler, Akerlof, North, and Kahneman, are also presented and explained. They demonstrate the innovative power and future viability of the concepts outlined and substantiate their usefulness for the practice of jurisprudence.