Role and Function of Law
Understanding the role and function that law plays in business and society is a large undertaking. There are many facets that help define, shape and regulate the current commercial and social environment. Focusing on key objectives and a general intent, the landscape can be less daunting. Fundamentally, law establishes a common protection of interest and uniformity in which individuals, society and businesses can operate and thrive simultaneously. Without laws to govern the actions of people in society, it is highly likely all social structure and commerce would collapse (Melvin, 2011).
Role of Law in Business
Law shapes every aspect of business. Law ...view middle of the document...
Contracts, licenses, consumer and employee rights protect the individual from wrongdoing and check businesses intent by incentivizing compliance.
A Washington, DC Real Estate Corporation is hiring a new department head of operations. The applicant benefits from state and federal statutes and labor laws covering discrimination, wage and taxation, fair labor standards and workplace safety. Contract law promotes assurance in that he or she will be compensated for duties accordingly and outlines the enforcement of a resolution should either party default. Both parties in this instance gain from the legal framework in place and encouraging a fair environment that fosters mutual success.
Role of Law in Society
Law determines not only how individuals, businesses and society should act, but also what actions are unacceptable. Enforcement of law is equally important to the protection they afford. Criminal and civil cases are outlined and resolved by a body of law that maintains order and justice in society. Illustration of what the injustice is, how it will be handled, under whom the responsibility to enforce lies and why the resolution foster fairness and uniformity.
A family in Maryland has a home that is robbed. The laws regarding theft protect the homeowner from loss and grievance as the violator may be brought to justice. Criminal and civil offense is resolved in accordance with the law and a...