Role and Functions of Law
“Law plays a significant role in the successful operation of business and society” (Bushman, 2007). Laws help to keep behavior intact and regulate standards. Law sets rules and expectations. They also provide ways to dispute issues while serving as an enforcer. The law allows individuals to enjoy freedom, live in a fair society, check government, and have justice. The law is very complex, therefore understanding the law is very important. Without law, a country would lack government and rules, which would prevent it from running effectively and efficiently (Bushman, 2007). What is Law?
According to Melvin law is “a body of rules of action or conduct prescribed by controlling authority, and having legal binding force” (2011). Laws are enforced and contain strict rules that should be enforced if the laws are violated or broken. Law aid government, businesses, and individuals in uncertain times. Role and Function of Law in Business
Business owner want to think that they are in full control of their business and it is solely up to the how their business is run. This is not the case because the law affects how business are formed, and structured. The law states that business has to provide equal opportunity to potential employees when hiring. Employees should e hired based on qualifications rather than race or gender.
The role and function of law in business include protecting employees and business owners, defining ways to dispute conflict and provide a fair platform to conduct business. Employees and business owners encounter complex situation daily some of these situation are above the norm and cannot be handled carelessly. The law makes it easier for these individuals to understand and settle these situations peacefully. Some of the business situations that require business law are transactions, contracts, and sales (Bushman, 2007). Role and Function of Law...