I would correct that, for physics at least -- "theory" is just an explanation for something. "Law" is an experimental observation that holds true, but doesn't p

I would correct that, for physics at least -- "theory" is just an explanation for something. "Law" is an experimental observation that holds true, but doesn't provide an explanation. E.g. Newton's laws describe macroscopic non-relativistic motion pretty well, but do not explain motion. The theory of relativity, on the other hand, explains the description of a bunch of physical phenomena, and also has lots of evidence behind it.