Law/421 Contemporary Business Law
August 1, 2011
Role and Functions of Law Paper
The roles and functions of laws help provide guidelines and rules for individuals and businesses to follow. These laws provide rules, for such things that are not acceptable in society as well as business. Throughout this paper Kerri will define the functions and role of law in business and society. Kerri will also discuss the functions and role of law within her present place of employment.
Role and Functions of Law
Law plays a significant role in the successful operation of business and society. Laws regulate social behavior, which leads to a society that runs efficiently. Many laws provide ethical standards as well as expectations. Other functions of law include: peacekeeping; checking government power and promoting personal freedom; facilitating planning and the realization of reasonable expectations; promoting economic growth through free competition; promoting social justice; and protecting the environment (Mallor, Barnes, Bowers, and Langvardt). Constitution
A Constitution is the overriding law, because it establishes the fundamental principles of a government at either the state or federal level. This includes creating the branches of the government, bestowing and refusing certain powers to each branch, and preventing other governmental units from passing certain laws, specifically those which limit individual rights (M. Bushman). Statutes and Common Law. Common laws are a law that have yet to be passed by the legislatures, but rather are made by the courts and is based on the fundamentals of previous cases with having similar fact; whereas, a statute is a law enacted by elected representatives of the legislative branch of government. Law Classifications. In addition to the several types of law, laws are also categorized into three general classifications: criminal law and...