Roles and Functions of Law in the Business and Society

gv_20120918_biv0107_309189933.jpg__0x400_q95_autocrop_crop-smart_subsampling-2_upscaleLaw is stated as the rules of conduct of any organized society, however easy or small, that are put in power by fear of punishment if they are violated. Present law has a large sweep and works under many branches of conduct. Necessarily law is the rules and regulations that help in handling disputes, dealing with criminal actions, and governing conduct.Click On: Personal injury attorney

The law is a server of many and many purposes and functions in the society. Four basic principal purposes and functions are: –

  • Protecting liberties and rights.
  • Resolving disputes
  • Establishing standards
  • Maintaining order

Roles of Law
The law is a holder of many roles in the business and society. Where this is most clear is in its three classifications:

  • businesspicPublic and Private Law
  • Substantive and Procedural Law
  • Criminal and Civil Law

Whether it is personal, societal, or corporate, laws are created to protect the interests of the people. According to the notebook, Business Law: The Ethical, Global, and E-commerce Environment, 13th Edition the most required functions of law include the following:

  • Facilitating planning and the realization of reasonable expectations.
  • Protecting the environment.
  • Promoting social justice.
  • Checking government power and promoting personal freedom.
  • Promoting economic growth through free competition.

These functions of law protect the interests of persons and of businesses through a perfect system of rules, enforced by the governing bodies. These systems of rules include the following areas of law:AAEAAQAAAAAAAAcPAAAAJGQ1OTBmM2YwLTA1YmUtNGQ4OC1iZDlhLTk5ZTVjMjU2ODkyZA

  • Criminal – The means through which any criminal act can be prosecuted and sees that the perpetrator is punished.
  • Contract – Regulates everything from buying any new device to buying a whole company
  • Constitutional – Gives us with a framework for the creation of laws, protection of human rights, and electing political representatives.
  • Property – The rules and any obligations in the process of buying, renting, or selling property, whether it is a business, home, or land.
  • Trust – The rules applied towards assets such as investments.
  • Administrative – The means by which the citizens can challenge the powers of the government.
  • International – Monitored the way in which the nations deal with one another, ranging from the trade to agreement, antique, authority, business, businessman, certificatmilitary actions to environment.
  • Tort – The means by which an individual or company can receive compensation if they or any part of their property is in damage

The functions and the roles of law provide us with the rules and guidelines for just about everything one could encounter with in both socially and professionally. The law provides not only with the rules for all those things that are not acceptable, but gives us with the means by which to protect one or challenge wrongful justices or injustices.