The Importance of Law (Legal Back Up) to an Individual, Organization and Economy of a Country at Large

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LEADERSHIP TRAINING AND CAREER DEVELOPMENT PROGRAME

TOPIC
THE IMPORTANCE OF LAW (LEGAL BACK UP) TO AN INDIVIDUAL, ORGANIZATION AND ECONOMY OF A COUNTRY AT LARGE

VENUE
KING IS COMING AREA HEAD QARTERS, REDEMPTION CAMP, KM 46, LAGOS/IBADAN EXPRESS WAY, OGUN STATE

DATE: SATURDAY 24 SEPT 2011
COURTESIES
I wish to express my gratitude to the WORLD LEADERSHIP INSTITUTE, the organizers of this programme for giving me the privilege and opportunity to discuss the above named topic. It is often said that there is no better test of the excellence of a government than the efficiency of its leaders, hence this programme; Leadership Training and Career Development is relevant in this period of the political dispensation of our country, Nigeria.

I am indebted to the Almighty God who has laid it upon your hearts as youths to know the importance of good leadership. One of the major problems and serious hindrances to actualising our potentials as developing countries is bad leadership. A nation cannot rise or grow beyond the level of its leadership .Thus nations that have bad leaders are often seen to be grossly underdeveloped.

The importance of law as a regulating instrument in the lives of an individual, organization and the economy of a country at large can not be over emphasised. The Almighty God himself recognises the importance of law in the regulation of human life for optimal performance when he said in Genesis chapter 2 verse 17 that “…of the tree of the knowledge of good and evil, thou shall not eat of it;

And the sanctions for breaching such a rule was pronounced in the same Genesis chapter 2 verse 17(b) where the Lord said, “ for in the day that thou eatest thereof; thou shall surely die.”

THE QUESTION THAT THEN ARISES IS WHAT IS LAW?
In the simplest form, law is a set of rules by which a society is governed. It is a body of rules to guide human action. And according to Wilson (a legal exponent) it is that portion of the established thought and habit which has gained distinct and formal recognition in the shape of uniform rules backed by the authority and power of government. In the words of Roscoe Pound, an American jurist, law is the “body of principles recognised or enforced by public and regular tribunals in the administration of justice”; while Green says it is “the system of rights and obligations which the state enforces”.

Salmond, another jurist on the other hand describes it as “the body of principles, recognised and applied by the state in the administration of justice”.

Lending credence to the application of and administration of law is the “RULE OF LAW”. This concept ensures that: - No man is above the law and no man is punishable except for a distinct breach of the law, established in the ordinary legal manner before the courts, and - Equality before the law, or the equal subjection of all classes to the ordinary law of the land administered by the ordinary law court.

Basically, laws relating to civil and criminal wrongs are made either by the legislative houses/National or state assemblies in the form of Acts or laws or by the judges, and are called case laws or common law. These case laws or common laws are made as judges decide cases and state the principles on which they are basing their decisions. The accumulation of these principles constitutes a body of law.

There are various types of law with distinctive features and functions. Thus we have;

CONTRACT LAW
This regulates everything on trading and business.

PROPERTY LAW
These are rights and obligations related to the transfer and title of personal and real property.

TRUST LAW
This applies to assets held for investment and financial security, while tort law allows claims for compensation if a person’s right or property are harmed

CRIMINAL LAW
This offers means by which the state can prosecute the perpetrator.

CONSTITUTIONAL LAW
This provides a frame work for the creation of law, the protection of...
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