Role and Function of Law
LAW/421
June 24, 2013
Role and Function of Law
Law has a vital role and function in business and society. Law is generally defined by Black’s Law Dictionary as “a body of rules of action or conduct prescribed by controlling authority, and having legal binding force.” (Melvin, 2011) The role that the law plays in society and business is to generate the set of rules that guides the conduct of individuals and businesses. Furthermore, laws directly influence the ethical standards of both society and businesses, but especially in the business world. Laws also help control society though peaceful ways of resolving disputes. Alongside this control is the protection of individuals and business that the law provides.
The law has many functions in business and society. The most widely known is probably the function to keep peace in society and among businesses. Some of the functions of the law that are directed towards society include; promoting personal freedoms, checking government power, and promoting social justice. The function of the law that is directed towards businesses includes; promoting economic growth through free competition, protecting the environment and it can help changes in business by providing an acceptable process for implementing change. There are many different types of laws and further explanation will follow.
The United States Constitution is the beginning of the law in America. One of the ways the law checks government power is through the separation of power into three separate branches; executive, legislative, judicial. Each branch has its own amount of power and duties. “It functions in tandem with other sources of law in three broad areas: establishing a structure for federal and state governments (including qualifications of certain offices and positions) and rules for amending the constitution; granting specific powers for the different branches of government; and providing procedural protections for U.S....