Function and Role of Law In Business and Society
“Common sense often makes good law,” which is quoted by William O. Douglas. If one looks at it, the definition makes sense. They are guidelines and protocols meant to be followed created from our common sense of what is known to be right. The law is an important platform. The operation of business and society is significantly influenced by law. Law is used to help regulate the behavior of society, which helps it run efficiently (Reference.com). It also functions as a source of moral criteria and potentials, at the same time making rules of conduct, actions to enforce the directions, also providing a way of resolving differences. Law also has the additional task that take account of: mediation; making sure that government doesn’t overstep their boundaries and that no one’s personal freedom is being infringed upon, helping, forecasting and the awareness of realistic potentials; allowing free competition by stimulating economic growth; encouraging social justice; and guarding the atmosphere (Mallor, Barnes, Bowers, and Langvardt). Have the laws in place are imperative. Without them to oversee activities of businesses or people, nothing in civilization could operate efficiently; everything would be in shambles.
Roles of the Law
Business and society have many roles for law serve. There are three major classifications that show its importance.
1. Criminal and Civil Law – When it comes to criminal law, the law role of the law is where public crimes are put on trial by overseeing bodies, while with civil law set apart from the public, private parties have the option to present lawsuits along with criminal against that person for tangible, otherwise imaginary unlawful activity. For example, the law concerning criminal charges, a family can prosecute a crime where for the murder or their child and with the civil law they would sue for financial reparation. 2. Procedural and Substantive Law – Procedural law is where there are guidelines where the administration or high court handle situations with the gaps in substantive law, whereas substantive laws has to do with social rights and peoples duties. Hitting a person with a car and not staying at the scene is a crime of substantive, whereas the law in terms of procedural outlines the way the courts go about with the prosecuting and the sentencing in the case.
3. Private and Public Law – Public law is the structure of guiding principles outlining the affiliation connecting our government and persons, while the structures where persons or assemblies interact with each other is private. For instance a community law has sections that consist of three separate laws that include administrative, criminal and constitutional law, while private law covers the parts that contain agreements and assets.
Functions of Law
It does not matter whether it is personal, societal, or corporate laws are shaped to shelter the welfares of the multitudes. Based on the text, the furthermost vital parts of law consist of the following:
1. Examination of administration authority and encouraging individual independence.
3. Defending the nature.
4. Endorsing societal integrity.
5. Stimulating economic growth through free competition.
6. Aiding, preparing for, and the realization of practical potentials. (Mallor, Barnes, Bowers, and Langvardt)
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