Laws the Roles and Functions in Buisness and Society

Topics: Law, Common law, Substantive law Pages: 4 (1037 words) Published: January 16, 2013
Laws the roles and Functions in Business and Society

Jim Williams


August 27, 2012
Doreen Smith

The role and function of law in society and business is very important. In order to first understand the role of law we need to look at what law really is and how it is defined. Merriam Webster defines Law as: A Binding custom or practice of a community: a rule of conduct or action prescribed or formally recognized as binding or enforced by a controlling authority ( Some may say that Laws are ethics enforced by written guidelines. They are the regulations which aid in ensuring proper conduct, dispute resolutions, proper handling of criminal actions as they are enforced with a consistent judicial standard. In this paper I will discuss the roles and functions of Law and how they are incorporated into our daily business and society.

Where we can see this most evident is through the identification of the three areas of law described in our text this week.

• Criminal and Civil Law– Civil Laws are written to compensate an individual or group of people as a result of the conduct of another person or business. Criminal laws on the other hand are centered on punishing the violator of a law while attempting to protect the societal whole. (Fundamentals of the Legal Environment of Business Chapter 1, page 18) An example of how Criminal Law and Civil Law interact would be that of motor vehicle accident. In a motor vehicle accident one party Hits and leaves the scene this is the party at fault, this is determined by Criminal law. The individual at fault will be ticketed and punished via judicial system. In the same accident, the individual who was the victim can recuperate lost pay, damages, and medical bill reimbursement through civil law procedures.

• Substantive and Procedural Law – Substantive laws provide individuals with rights and create certain duties. Procedural laws provide a structure and set out...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Role and Functions of Law Essay
  • Essay on Week 1 Role and Functions of Business Law and Society
  • Functions of Law Essay
  • Role and Functions of Law Paper
  • Roles and Functions of Law Essay
  • The Role and Functions of Law Essay
  • Role and Functions of Law Essay
  • Role and Function of Law Essay

Become a StudyMode Member

Sign Up - It's Free