I'm not a current law school student so I was wondering if anyone could help me by clarifying the difference between business law and transactional law? I know what transactional law is but is it the same as business law or related. What about corporate law? Also, would I say I want to specialize in transactional law or just become a transactional lawyer? Or am I just totally wrong altogether? Please help, thank you very much!
These terms are often used somewhat interchangably, and, in some ways, imprecisely. "Business law" is a broad category that includes numerous other areas of law (contracts, property, torts, etc.) relating to commerical enterprises, as well as to non-commercial endeavors such as employment law issues in non-profits. So, this is really quite broad. "Transactional law" is generally distinguished from litigation. But within practice there are dozens if not hundreds of sub-areas each.
Prior to (and, to a large degree, in) law school, it is not necessary to "specialize." The first-year curriculum is universal, and to a large extent, even second- and third-year courses are irrelevant for most purposes, with the general distinction between transactional and litigation work (although even there there's no strict line between the two, and there's absolutely no limit on employers to have junior associates tackle any and all issues.
For now, don't worry. Focus on why you're interested in the law and on how to do well in your LSAT, applications, and then first year.