[Servant of the 9]

Gravity is not a theory. It is observable. Hence, it can be classified as a law.

No.
That objects fall when dropped is observable.
Gravity is the theory about why it happens and what controls the rate of atraction.
There is Newtonian Gravity, Relativistic Gravity, and a number of Quantum Gravities.

No one has ever observed the materialistic evolution of any species. However, it cannot be classified as a law. Hence, it is merely a theory.

Evolution has been observed countless times in the fossil record.
That it does happen is fact.
Why it happens is Theory.
There have been many, Darwinian Evolution, Lysenkoism, Punctuated Equilibrium Evolution.

Theories in Science are constantly being fine tuned, each more accurate than the prior one, asymptopically aproaching truth.

So9

[Bigh4u2]

" Evolution has been observed countless times in the fossil record."

It has?

You mean they have recorded proof that a certain species of animal (or plant) evolved (or changed) from one state to another?

Or is it they 'theorize' that that is what happened based upon a 'new' species emerging and an 'old' species disappearing around the same time?

[Don'tMessWithTexas]

Your reply suggests that either gravity and evolution are both laws, which are immutable and observable or they are both theories which are speculative.

One observes an apple fall from to the earth. An apple falls to the earth every time it is dropped and wherever it is tried. Whatever you call that thing that explains why that observation occurs is a law. It would be absurd to call that thing a theory, because you observe

One can see the remains of living things in the fossil record, but one cannot see them come into being. One has an idea of how they come into being, but one cannot create or replicate the conditons in order for one to observe the phenomenon take place. Hence, one does not really know how life comes into being. One can only theorize.