What term is used to describe a law enacted by a legislative body?

The term "statute" refers to a law that has been formally enacted by a legislative body, such as a state legislature or Congress. Statutes are authoritative texts that govern specific areas of legal and social conduct, providing clear rules and regulations to which individuals and entities must adhere.

Statutes are distinguished from other types of legal norms, such as regulations, which are created by governmental agencies based on statutes and serve to detail the implementation or operational aspects of those laws. Ordinances are laws passed by local governments and are specific to municipal issues. Bylaws are rules established by organizations or corporations to govern their own operations and management but do not constitute laws passed by a legislative body. Thus, in the context of the given question, "statute" is the correct term used to describe a formal law instituted by a legislative authority.