The Functions And Function Of Law In Business And Society

Submitted By knj601
Words: 808
Pages: 4

Laws are an essential part of business and society. The function and role of law within these areas is necessary in keeping order and structure. Laws help determine what can and cannot be whether it is within a business or in society in general. These laws serve as guidelines for individuals to follow and abide by to maintain peace and community. Laws help keep business and society safe and protected.
Law is a necessary function to maintain social and professional control. Laws are also used to protect and retain order within the public. The function of law within business is important because companies and organizations need guidelines for acceptable business practices. Without law businesses would do whatever they believe necessary without thinking about how it may affect the public and consumers. There are many laws that must be followed when running a business. State and federal laws are used to determine how a business can function. A business must follow laws applicable to that specific field. It is essential for businesses to follow all laws applicable to them to keep their business in good standing. One important function of the law vital to businesses is influencing and enforcing standards of conduct. ("World Academy Online", 2010-2013) If standards of conduct are not put into place the structure of a business may be at stake. Ensuring that employees and representatives of the business understand what is acceptable behavior is important. A business may not do things in an ethical and moral manner, and if so they must be held accountable by law. Federal and state laws are used to keep business and society in order. Society needs laws to ensure the safety and protection of the public. Laws are beneficial because they help determine how things are done and what is and is not right. The function and role of law within society is also important concerning how to address certain behaviors and acts. Laws help determine what actions are legal and illegal. If individuals do not abide by laws they can be penalized for negative actions. The role and function of law is vital to society. According to "" (2013), “The purpose of law remains to provide a basis for which one may lead a lawful life, with the well being of others as a consequence of such a function” (Now You Can Know the Functions of Law). Without law society may not be as organized and functional as it currently is. Laws help guide and keep individuals from doing things that could cause issues and corruption.
The accounting field is subject to many laws and regulations. As an accounting assistant for a title service company, it is essential that laws are followed. The function that law plays within this field is immense. Laws make sure that the process of purchasing titles and information on homes is done so in the correct manner. Rather than just giving information out to anybody, it is imperative that checks and balances are done to make sure that personal and confidential information is provided only to the right people. As an accounting…