This website uses cookies to ensure you have the best experience. Learn more

Roles And Functions Of Law In Business And Society

937 words - 4 pages

Roles and Functions of Law in Business and Society
Introduction
William O. Douglas said, "Common sense often makes good law." Well that is what laws essentially are, rules and regulations that make sure common sense is followed. One could even say that laws are enforced ethics. Laws serve several roles and functions in business and society, and this paper will discuss those roles and functions.
What is law?
According to Reference.com (2007), law is defined as: "rules of conduct of any organized society, however simple or small, that are enforced by threat of punishment if they are violated. Modern law has a wide sweep and regulates many branches of conduct." Essentially law is the ...view middle of the document...

E.g. public law has subdivisions that include constitutional, administrative, and criminal law, whereas private law would cover such areas as contracts and properties.
These three classifications of law affect both business and society, through not only the guidelines defining what is and is not a crime, but also through protection for both. The examples above talked about a car hitting an individual. If it were taken one step further and the car belonged to a business, there are laws in place safeguarding the culpability of the business from the incident since though it is a company car, the company itself was not driving it. Instead the driver and only the driver would be the one at fault, and the victim would have only the driver to seek compensation or prosecution against.
Functions of Law
Whether it is corporate, personal, or societal, laws are created to protect the interests of the masses. According to the textbook, Business Law: The Ethical, Global, and E-commerce Environment, 13th Edition (Mallor, et al, 2007, p. 11), the most important functions of law include the following:
1. Peacekeeping.
2. Checking government power and promoting personal freedom.
3. Facilitating planning and the realization of reasonable expectations.
4. Promoting economic growth through free competition.
5. Promoting social justice.
6. Protecting the environment.
These functions of law protect the interests of individuals and businesses through a system of rules, enforced by governing bodies. These systems of rules, as listed by Reference.com (2007), include the following areas of law:
 Constitutional – provides a framework for creating laws, protecting human rights, and electing political representatives.
 Administrative – provides the means by which citizens can challenge government powers.
 International – regulates the way in which nations deal with one another,...

Other Essays Like Roles And Functions Of Law In Business And Society

Role and Functions of Law Essay

923 words - 4 pages Role and Functions of Law Christopher M. Thomas University of Phoenix BUS/421 Instructor: Corey Frost August 1, 2012 Role and Functions of Law Today’s paper will be discussing the role and functions of law in business and society. The author of today’s paper works in the regulatory and compliance department for a large pharmaceutical organization known as Roxane Labs. The author will share specific examples of how law affects his every

Roles and Functions Essay

1085 words - 5 pages Roles and Functions By Terri Peters 09/30/2013 HCS/325 Shawn Matheson, MBA, LNHA, FACHCA Roles and Functions Introduction Managerial roles and functions in today’s society vary depending on which field and the specialty of the facility. Roles and functions in healthcare doesn’t just have an impact on patients but employees as well. As a leader, it is important to know what the roles and functions are because if not carried out

Roles and Functions

865 words - 4 pages Roles and Functions Paper Introduction A health care manager each day has many important roles in which they must carry out. Implementing all the things needed such as motivation, discipline, and system of organization. A manager must be committed and show the employees they are dependable and committed. There are four functions that are very important functions for today’s health care managers. Role and Application of Management Functions

Role and Functions of Law Paper

826 words - 4 pages Role and Functions of Law Paper xxxxx LAW/421 April 22, 2013 Dorothy May Role and Functions of Law Paper The function and role of Law in our businesses and society plays a major role in the everyday process of business in our society. In business, law gives us rules and ethical values and a means for settling disputes. It’s for our own good to protect us and our business to have set standard in keeping our business and employee operating

Business Processes and Functions

5581 words - 23 pages are the way that how to do and achieve the business functions. Business process is a set of related activities that collectively realise a business goal, and is a collection of related, structured activities that produce a specific service or product for the final consumer. Business processes also are valuable business assets, and companies need manage and maintain these business processes in the same way as any other assets, such as plant and

The Analysis of Law and Courts in Today’s Business Environment

790 words - 4 pages The Analysis of Law and Courts in Today’s Business Environment Tabitha Merkow ETH 321 10/13/2014 Laurie Wicker The Analysis of Law and Courts in Today’s Business Environment In today’s business environment there is no exact definition of law. Law is a set of rules, standards and principles that outlines the behavior we practice in business. The legal system is a major institution that

Business Law and Ethics

1089 words - 5 pages picture of whom the job offer should be given too. However, this thinking is naïve and before an applicant should be picked. A review of the federal guidelines for equal employment opportunity is a must. Business Control Issues for Corporation and Employment Law Applicable to Surebuild’s Hiring Decisions The passing of the Civil Rights Act of 1964 is to protect employees from employment discrimination. In particular a section of the

Business Law and Ethics

2791 words - 12 pages the contract is considered valid. We can say that this contract is unilateral, expressed, informal, executory and valid. From our knowledge of contract law, we can say that senior owe to junior $5,000 because he respected the term of the contract by stopping smoking for one year. Technically, most types of contracts don't have to be written to be enforceable. An example is purchasing an item in a store. You pay money in exchange for an item

Business and Society

1611 words - 7 pages MGT 3110 Business and Society 2010/11 Coursework I Application of ethical theory to a case study vignette Contents Introduction 3 Identification of Ethical Issues and Stakeholders 3 Utilitarianism Ethic Theory 5 Postmodern Ethic Theory 5 Personal Reflection 7 Reference 8 Introduction According to the given four case studies I have select case study four to evaluate which is about Moyuka Car Company. Sam joined to

Roles of Assessment in Teaching and Learning

996 words - 4 pages . Tolstoy translator Richard Pevear asserts 'there is no such thing as a "Tolstoy story,"' and it's certainly true to say that the folktale simplicity of Alyosha the Pot (1905) is miles apart from the suffocating psychological interiority of The Kreutzer Sonata (1889), which in turn bears little relation to the exhilarating Prisoner of the Caucasus (1872). Yet these stories are linked by what the French scholar and translator Michel Aucouturier calls

Roles of Women in the Society

934 words - 4 pages Name Tutor: Course: Date: Roles of Women in the Society The changing role of women in the society has significantly affected their contribution in various aspects of human life such as family, religion, politics, government and business. Traditionally, their roles were always inferior to that of men in all structures and organs of the society, but this has significantly changed with the current insistence on gender equality and respect

Related Papers

Functions And Roles Of Law In Business And Society

729 words - 3 pages Functions and Roles of Law in Business and Society xxxxxxx LAW/421 xxxxxxx Functions and roles of law in business and society The governance of business through state and federal laws is a very complex system. Many laws, statutes, and regulations are in place to protect the consumer and the business. These laws stem from city ordinances in local municipalities to Congress’s broad commerce powers that have the final say. Each of

Roles And Functions Of Law Essay

1328 words - 6 pages functions include but are not limited to promoting social justice, economic growth, and personal freedoms, keeping the peace, protecting the environment, and even keeping the government’s power in check. Without these functions in our society, anarchy and chaos would rein supreme. An effective society would be unable to function, resulting in the collapse of economic commerce and function. The Roles of Law Law serves many different

The Roles And Functions Of Law

882 words - 4 pages The Roles and Functions of Law Law/421 Alisha Short April 23, 2012 Dr. Thomas Wilson Law is actually a body of rules of actions and or conducts determined by a regulating authority as well as having a legal binding force according to our text (Melvin, 2011). The law that we know is basically regulations, as well as rules that are applied by controlling person to provide help in deciding how a community is to act, control any

Roles And Functions Of Law Paper

787 words - 4 pages their business dealings while managing business connections. Legal counsel, arbitrary agreements, order, safety, establishing good rapport with consumers, vendors, etc. are a few functions of business law. In a business there are external legal counsels who are available to provide their services to businesses. Some companies go above that and hire internal legal counsel for business purposes as well. Arbitrary agreements “allow the company