Roles and Functions of Law

In: Business and Management

Submitted By honestabe325
Words 890
Pages 4
Role and functions of law
February 11,2013

Role and functions of law
The role and function of law in business and society is extremely important to maintain structure and build boundaries. Laws set guidelines for behavior and ethical principles that standardize social conduct. The absence of guidelines and standards would ultimately lead to the downfall of the business world. Society would be unable to function properly and this would eventually terminate all forms of legal, structured business activity.
“The term law has been defined in a variety of ways throughout recorded history. A generally accepted generic definition of the law is a body of rules of action or conduct prescribed
by controlling authority, and having legal binding force.”(Melvin, p. 4, 2011) This happens to be one of the most commonly recognized definitions.” Principally law delivers a structural method of solving disagreements concerning individuals that tend to not follow the guidelines and protocols that are set within the government.
Due to the fact that the build of American law is so diverse, business law is divided into three categories; Criminal verses Civil Law, Substantive verses Procedural law, Public verses Private law. Criminal verses Civil laws are pertaining to the criminal or civil class of law. Criminal law is for the safety of society. The purpose of criminal law is to protect individuals and businesses from criminal activity, such as robbery, larceny or embezzlement. If a person breaks the law usually violators could possibly be subject to fines and/or incarceration. “Civil laws are designed to compensate parties (including businesses) for losses as a result of another’s conduct.” (Melvin, p. 18, 2011).
“Substantive law provide individuals with rights and create certain duties” (Melvin, p. 18, 2011) whereas procedural law gives structure for pursuing…...

Similar Documents

The Role and Function of Law

... programs to protect their consumers from being discriminated against, as well as themselves from receiving any fines or lawsuits from the government. Another daily activity that ensures the bank is following the necessary regulations is to provide a Truth in Savings disclosure to every customer opening a savings account. The customer will be able to compare our savings rates and products to those of other financial institutions. Not only do we provide our customers with the necessary disclosures, we make sure that every disclosure is fully reviewed and that they understand. After researching some of the required business regulations and reviewing “The Legal Environment of Business” by Melvin, S.P., I feel that I have a better understanding as to the role and functions of law within a business. Although sometimes it may not seem like it, law is made to protect society, businesses, consumers, and the environment. By preserving and not taking advantage of law, you are making the community in which we live a better place. Without law, we would live in a very disorganized country with a lack of respect for our fellow citizens. References: All Businesses. (2009). Retrieved from government/environmental-regulations/11898-1.html#axzz2C3Sn03iA Board of Governors of the Federal Reserve System. (2012). Retrieved from Melvin, S. P. (2011). The legal environment of business: A managerial......

Words: 747 - Pages: 3

Role and Function of Law Paper

...Role and Functions of Law Paper Sherry Donath Henninger LAW 421 November 5, 2012 Jerome Tatar Role and Functions of Law Paper In business and society, laws play a big part. Many business sectors have always complained about the restrictive nature of government regulations. It has been said that it impedes the profits of large and small businesses and a waste of time and effort. At some point, most businesses have worked their way around some of the requirements at least for a while. The definition of law is of rules that are governing the actions and behavior as recommended by a ruling authority that possess the legal requisite to enact these rules. The laws are made and are enforced to instill the acceptable normal quality in society. Although some laws may seem wrong to some people they are put there for the greater good of society. The different laws can be hard to understand, but if one does some research, one can find some strange laws in many communities. There have been rules and laws for as long as there has been civilization. The leaders of early tribes had to create rules that are based on acceptable behavior. As civilization evolved through the centuries and the rules had evolved into laws. In the U.S. regulations and laws are set upon businesses and society, which are set at local, state and federal levels and are categorized as Constitutional Law, Common Law, Administrative Law, and Statutory Law. These laws are designed to give an equal playing field...

Words: 534 - Pages: 3

Role and Function of Law

...Role and Functions of Law Mark Hopper LAW 421 May 28, 2012 Kim Peterson Role and Functions of Law The history of law goes back thousands of years. It seems that law has popped up in many civilizations at different times over the course of their evolution. The system of law practiced in the United States today is derived from the English common law that was in place during the revolutionary war. The role and function of law can be a very complicated topic for discussion. Law can be defined as “the body of official rules and regulations, generally found in constitutions, legislation, judicial opinions, and the like, that is used to govern a society and to control the behavior of its members, so Law is a formal mechanism of social control” (Sixth Form Law, 2012). The role of law in society as defined above is about creating rules that tell people what the general population will accept in terms of behavior. The Law also tells people what the consequences will be for misbehavior according to these laws. The Law helps protect people from others and sometimes from themselves. This is perhaps the role that most people would associate with the Law. Law also plays a role in the business world. Business law is sometimes referred to as Commercial law. Commercial law “governs the broad areas of business, commerce, and consumer transactions. Specific law...

Words: 757 - Pages: 4

Role and Function of Law

...Role and Functions of Law By: Bobby Gilliam January 21, 2012 Law/421 According to The Legal Business Environment, Melvin, S. P. (2011), "The term law has been defined in a variety of ways throughout recorded history. A generally accepted generic definition of the law is a body of rules of action or conduct prescribed by controlling authority, and having legal binding force." Law serves many purposes and functions including protecting the rights of all individuals within and citizens outside of the country. In addition the law establishes the rules and procedural guidelines that both the government and citizens must adhere to. Law is a very diverse and complex subject. So much in fact, that to become affluent in all areas of law might take a lifetime. As a result, many who decide to study law choose a specific field of study and specialize in one or two areas of the law. Law can be divided into three distinct categories: statutory, administrative, and common law. The law can be broken down even further into very specific categories that serve very specific purposes. Criminal, civil, procedural, public, private, and substantive law all have a unique function and specific role. However, all of these areas of law work in unison to provide the citizens of The United States of America with rights, liberties, and protections from each other and their government. Each of these areas of law is defined below: Statutory law refers to the...

Words: 743 - Pages: 3

Role and Function of Law

...Role and Function of Law LAW/421 In society as well as business, laws act as a set of rules that individuals must follow for the business or society to run effectively. Although all laws are used to govern behavior, they vary greatly on the types of behaviors that they govern. For instance, our Constitution is the supreme law of the United States and is responsible for governing the fundamental principles of our government, but it has limited powers which can regulate individuals and businesses (Melvin, 2011). The limitations the Constitution has on individuals does not make the powers it does have any less valuable to society. Without the Constitution, and the laws it supplies, we would not have the system of checks and balances we do that protects us, as citizens, from any branch of the government becoming too powerful and running our government as a dictatorship instead of a democracy. On the contrary, states are responsible for making and enforcing laws, known as “police powers” that protect the “health, safety and general welfare” of its citizens “with only general constitutional authorization” (Melvin, 2011, p. 28). Because there are so many laws in America, it is sometimes beneficial to group laws according to their legal functions. Laws are “categorized into three general classifications: criminal law and civil law, substantive law and procedural law, and public law and private law” (Bushman, 2007, paragraph 6). These categories, however, are not mutually...

Words: 739 - Pages: 3

Role and Function of Law

...Role and Function of Law Law/421 September 2013 Instructor Name (A PAPER) The Roles and Functions of Law There are different functions and roles of law in the modern business society in the justice system. The business law is a specific set of rules regarding oversees businesses and can take measures to correct injustices. These rules of law provide the social functions in peacekeeping, balancing government power, providing individuals’ freedom, implement plans with appropriate expectations, establishing social justice, and safeguarding the environment. Peacekeeping is an important role of law in the modern business society. These laws provide rules for appropriate conduct are to ensure peace for between each party participating to resolve dispute. The act of peacekeeping is more difficult today since the businesses are subject to civil and private disputes the predetermined business laws assists in solving the disputes. When these disputes happen the options are to file a lawsuit can be costly and a length of time to resolve or agree to a compromise. Another alternative is to use alternative dispute resolution (ADR), or arbitration, or mediation. Through these methods, a settlement can be create closure and achieve an agreement between both parties. Balancing government control and providing individual freedom dealing with United States Constitution has a built-in system of checks and balances with limitations. The government duty is to question if...

Words: 784 - Pages: 4

Role and Function of Law

...Role and Functions of Law LAW/421 June 27, 2013 Role and Functions of Law The law of the land to some may seem unfair and unjust. Surely there are those that think that wearing a seatbelt should be a choice and not a law. However the law in fact is put in place not only to correct criminal, or dishonest behavior, but also to protect. In today’s society often times the cure for any type of wrong doing is to sue; it seems that people use suing as a means of getting what they oftentimes feel is monetarily due to them for any type of discomfort or injustice. In the business world tough decisions regarding employment regulatory compliance, even interoffice regulations are decided on every day. The Law in Business In the business world the law often times has precedence on how some companies operate. For example, if a company produces paint by law it cannot dump toxic chemicals into the environment without suffering stiff federal penalties. As a business owner typically there is a vast knowledge of whatever the business specializes in, therefore there can often be oversights regarding legal issues. Laws in the business world prevent companies from doing unlawful or unethical things like making employees work long hours for an unfair wage, or product duplication. Employment and labor laws ensure that business owners not only treat employees fairly, but also compensate them at a fair wage. Product duplication or when company “a” produces and distributes an exact...

Words: 841 - Pages: 4

Role and Function of Law

...Role and Function of Law James Cousar LAW/421 March 25, 2014 Teresa Knox Role and Function of Law The Law takes on a major part in business and society for them to be successful today. There for a business or society to run effective laws are needed to regulate social behavior. A law provides moral standards and hope, while furnishing rules of behavior, methods to apply the rules, and the method to resolving disagreements. There are other functions or purposes of laws include: diplomacy; examination government power and endorsing private freedom; encouraging economic development during the course of free competition; helping community justice; and caring for the environment, without laws to manage the activities of a nation or businesses society would function in an ineffectively manner which would lead to ruin. “The term law has been defined in a variety of ways throughout recorded history. A generally accepted generic definition of the law is a body of rules of action or conduct prescribed by controlling authority, and having legal binding force” (Melvin, 2011, p.4 ). It may seem that the functions of law can be somewhat straightforward; America’s legal system is in fact a complex system. The laws can be deciphered from in many different sources. They came from English legal policies from the early settlers of the U.S. colonies. Current law from the U. S. that controls industries and group or individual people is usually comes from the one or they may be combine...

Words: 873 - Pages: 4

Function of Law

... of a crime such as one person hitting another with their car, and civil law would deal with a lawsuit, as the person hit would sue the driver of the car for monetary compensation. The function of law helps to encourage and guarantee the existence of satisfactory order in society, it resolves many conflicts and provides stability for the majority of individuals. Also, the function of law was created to avoid dishonest leaders to do what they pleased or take over the rights of citizens. To understand the position of business law in the legal system, it helps to see the business as individuals interacting together in society. According to Melvin (2011),"Modern law in the United States regulating businesses and individuals is a combination of constitutional law. Statutory law, common law, and administrative (regulatory) law and might sometimes work in conjunction with one another or independently" (pg. 8) Conclusion Although the law is complicated to understand it fully, it is necessary to keep citizens happy and with a peace of mind. There are times where individual will disagree with the law and find a way to go around the system, but with law enforcements it will prevent from fraud or false lawsuits. Laws are usually established on common sense, without them; there would be disagreements between social groups and create major problems among society. In other words, the main purpose of the law is to provide everyone a peace of mind doing what is......

Words: 1054 - Pages: 5

Role and Function of Law

... the people and the reigning government. Public laws are between the people. Types and categories of law are important in both society and business. Function and Roles of Law in Business Every business faces areas where the law must be met and complied with. In 2002, the world of inventory control changed. The Sarbanes-Oxley Act became law after several mismanagement and accounting scandals. “Sarbanes-Oxley (SOX) was passed to combat corruption at big public companies like Enron, WorldCom, Tyco, Adelphia, Global TelLink, HealthSouth, and Arthur Andersen. But small and not-for-profit companies are finding they have no choice but to adopt many of the same standards if they want to get insurance, attract investors and donors, and repel lawsuits. SOX compliance is becoming a portfolio building block that no company can ignore” (John Willey and Sons INC., 2013). SOX creates accountability for businesses. Inventory within the company must be audited within SOX compliance. The law plays a large role in the life of an inventory control manager. Every decision made requiring the removal, placement, or replacement of inventory must comply with SOX regulations. Managers and supervisors obtain SOX training to ensure compliance. Not all positions require intimate knowledge of regulations, but each position in every company does have their own legal regulations. Cipollone v. Liggett Group, Inc. Businesses must work with their legal teams to decide the best course of action in every...

Words: 1177 - Pages: 5

The Role and Function of Law

...The Role and Function of Law Paul Mullen LAW/421 July 30, 2015 Ms. Machelle Thompson JD The Role and Function of Law Law has both vital functions in society and an essential role in business. In American society, governments create law to enable individuals to live freely and with fairness. It functions as a catalyst for civilized living. In American business, laws provide a basis for fair trade and commerce and allow structured business relations. American government creates laws to resolve domestic and foreign legal disputes both public and private. In the marketing industry, law plays a pivotal role in regulating both civil and criminal liability to consumers. In both society and business, law serves both essential functions and an important role. The function of law in American society is to provide individuals with the legal ability to live their lives with fairness and equality. By having a central controlling authority, such as local, state, and federal government, individuals have a specific pre-determined set of agreed-upon rights, responsibilities, and consequences (Melvin, 2011). These pre-determined agreed-upon rights, responsibilities, and consequences include the structure of government, the powers entrusted to government, and the rights of individuals within that government. Three examples of an individual’s governing law within American society are constitutional law, statutory law, and common law. Government constantly...

Words: 884 - Pages: 4

The Role and Function of Law

...The Role and Functions of Law LAW/421 6/14/2015 Dr. William Anderson . My student smiled nervously over her order pad as she waited for my table to finish ordering. She was a nice young girl whom I had been teaching for a few months through a university that provided student visas to people who were pursuing studies in English-as-a-second-language. Part of the requirement, however, was that students only work for the school itself and not obtain jobs outside their academic institution. The next day she came into the class as usual and though I taught her the rest of the semester, we never discussed her secret work life. I knew better than to say anything. One year before (at a different job) an agent from Homeland Security had visited my office. The reason for the visit was that one of our F-1-Visa Students had failed to report to class to class for a month. I didn't have to see the nine-millimeter tucked under her jacket to know that our business had changed since the terrorist attack on the World Trade Center in 2001 The Law and Business: Commerce Powers In a more general way, the role of law in business can be greater appreciated when analyzing the Commerce Clause whose application is wide and profound both in intrastate and interstate commerce. Congress has broad powers to regulate business. These powers are derived from the Commerce Clause. The importance of these powers is so profound that even...

Words: 828 - Pages: 4

The Role and Function of Law

...The Role and Functions of Law Alice Richardson ETH/321 January 11, 2015 Laurie Wicker The Role and Functions of Law Michigan Court Structure vs Federal Court State courts are established by a state and Federal courts are established under the US constitution, they are defined mainly by jurisdiction. The court structures in the state of Michigan and the Federal Courts structure are almost the same. The Supreme Court is the highest for both the state and Federal Courts, and right below that is the court of appeals. Next is where the difference begins, the state of Michigan lower courts consist District Court, Probate Court and Municipal Court -if a case in one of these courts leads to a jury trial it is the moved to a higher court, which is the Circuit Court (Court Statistics Project). Then there is the Court of Claims which is the same level as the Circuit Court, the only difference is that the Court of Claims do not handle jury trials. In the Federal Courts right below the Court of Appeal is the U.S. District Courts (i.e. Bankruptcy Courts, U.S. Court of International Trade, U.S. Court of Federal Claims) and then Military Courts (American Government, 2008-2014). Judicial Review The concept of judicial review is to decide whether actions of the executive and legislative branch are legal under the Constitution. Judicial review is important in the US government because it serves as a check on the other branches of government. The Supreme Court also has used judicial...

Words: 747 - Pages: 3

Role and Function of Law

...The Federal Cigarette Labeling and Advertising Act of 1965 and the Public Health Cigarette Smoking Act of 1969 are examples of laws that protect businesses and society. (Melvin, 2011) These are only two; there are several other laws that protect business and society. From traffic violations to unethical acts, there are laws for everything, at every level, federal, state, and local. As long as there have been people, there have been rules and regulations, known as laws. Laws are bills that are made by Congress, the legislative branch of government. From Congress, the bills are sent to the president, who determines whether to approve or veto the law. If the executive branch approves the law, it is sent to the judicial branch, where it is deemed constitutional and enforced. There are different types of laws; constitutional, statutory, administrative and common law. Constitutional laws are the foundation for all other laws in the United States. This type of law establishes a structure, grants specific powers, and produces procedural protections. Constitutional laws are different from other sources of law, primarily in terms of permanence and preemption. Permanence reflects the basic principles of a particular society and should be amended only in extraordinary cases and when majority of its constituents agree over a period of time. (Melvin, 2011) Preemption gives the constitutional laws supremacy over other sources of law, such as statutes. These laws exist at the federal and...

Words: 878 - Pages: 4

Role and Function of Law

...” [ (Melvin, 2011) ]. Federal Laws can be stricter, and can supersede State Laws. An industry that has the functions and role of law would be the banking industry. Banking is regulated by many laws, to help protect people’s money from fraud and theft. Fraud is when someone takes something knowing it isn’t theirs and then tries to gain from it. Working at a bank you have to go through back ground checks, fingerprints etc. so they can hire the most trustworthy people. There are certain rules that banks make to help protect customers from fraud and theft. An example would be giving out personal information over the phone. This was not allowed because we didn’t know if it was really the person or not and we didn’t want to take the chance that we were giving information out to someone who intended harm. Another security measure that is taken was passwords on accounts. This helped the people who wanted to call and get information; if they had the password we could give them information. We weren’t allowed to change addresses; phone numbers etc. unless the person came in themselves so it was verified that it was really them. Like many industry’s laws are made to help protect the people who have entrusted them with their business. These laws help protect the people and businesses alike. The function of laws and their roles play an important role in our ever changing world. References Melvin, S. (2011). The legal environment of business: A managerial approach: Theory to......

Words: 787 - Pages: 4