...Role and Functions of Law Role and Functions of Law There are several different functions of laws; however laws were designed you have just one role. Laws were designed and set into place to govern a set a rules that each individual is expected to follow, whether pertaining to society or to a business. Laws are set and new ones are always being approved, so that there can not only be a consensus on what is right and wrong, but also so there can be a decision on when to punish someone and how to determine whether they have broken the . Law has an extraordinary role in a successful operation of how a business may run and how a society comes together as one. Laws help control social behavior which helps lead to a society that is ran in an efficient type of way. Laws were put in place to set rules of conduct, different ways to enforce those rules, a mean for settling misunderstandings or disputes, and to supply ethical expectations and standards. Some other important functions of laws are: they outline what the government can do and what it cannot do; brings out justice in society; facilitates orderly change; peacekeeping; and they promote economic growth. Something very important to know is that without laws, the way a business is ran or the way people may act, society would not be able to function effectively, with this being said commerce would likely collapse. Although many of the function of laws seem to be rather simple, The United States Legal System is very complicated...
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...U. S. Federal Reserve's Monetary Policy Eco 561 June 22, 2010 Douglas C. Holbrook U. S. Federal Reserve's Monetary Policy The Fed can be considered second to the President of the United States as one of the most influential and powerful men in the United States. As the world tunes in to the and monetary decisions that the Federal Reserve makes, those deacons impacts trillions of dollars and hundred of millions of people. It is important to understand the function of money, the structure of the Fed Reserve and purpose, how the central bank controls the money supply and lastly what current monetary policy has the Fed enacted to boost up the economy. The Purpose and Function of Money Money is an economic resource. It is a mean to obtain value to be utilized for different purposes in ways other than the manner earned or realized. Money and its function simplify the production and use of wealth. It is defined as anything that is “widely accepted as a medium of exchange” (McConnell, Brue, & Flynn, 2009). Some of its functions are as follows: * Unit of account – monetary units are used as yardsticks to measure the comparative value of an array of goods and services, and resources. * Store of value/wealth – enables people to purchase goods and services in the present or future. * Medium of exchange – it is usable for buying and selling of goods and services. Money allows society to escape the complication of barter. As for the medium of exchange or...
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...Role and Function of Law Student Name Law/421 Date George Williams Role and Function of Law Law is an essential part of business and society. The definition of law is, “Any system of regulations to govern the conduct of the people of a community, society or nation, in response to the need for regularity, consistency and justice based upon collective human experience” (ALM, 2013, P. 1). There are four common types of law constitutional law, statutory law, common law, and administrative law. Each of these four types plays a different role in the regulation of business and society. In addition to the types there are also three common categories of law criminal and civil, substantive and procedural, and public and private laws. Law is an integral part of the present-day workplace and affects the decisions management and leaders make. Function and Role of Law Law is an essential part of what allows business and society to be successful. Societies use law to keep the peace, enforce standards of conduct, maintain order, facilitate planning, and promote social justice (Barnes, Dworkin, & Richards, 2011). Chaos would reign supreme without laws to guide decisions. The United States law is a complex system broken down by types and categories. Types of Law The four common types of law each have a different purpose. Constitutional law deals with the interpretation and implantation of federal and state constitutions, the Constitution is the highest form of the law. Laws...
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...organization and functions of the federal courts, describe the jurisdiction of the federal courts as well as what filing needs to be done within the court system. I will also be naming several different court levels as well as listing similarities and differences throughout each courtroom. Within the federal court system there are 3 organized divisions. First, there is the Supreme Court which is said to be the “highest court in the land”. Second, the U.S. Court of Appeals and last but not least, the U.S. District Courts. The federal courts hear cases that involve the laws that concern the Constitution, the laws and/or treaties of the U.S., Ambassadors and Public Ministers, disputes between two or more states and bankruptcy cases. The federal courts only exercise judicial powers, meaning the “courts decide controversies by issuing decisions in each case and the rationale for that decision”. Another exception to the rule is diversity of citizenship, which means that in such a case the Diversity of citizenship occurs if the lawsuit involves (a) citizens of different states, (b) a citizen of a state and a citizen or subject of a foreign country, and (c) a citizen of a state and a foreign country is the plaintiff. A corporation is considered to be a citizen of the state in which it is incorporated and in which it has its principal place of business. The reason for providing diversity of citizenship jurisdiction was to prevent state court bias against nonresidents. The federal court must...
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...history of local government, three distinct periods present themselves for consideration which are during pre- British, British and post- Merdeka period. During the pre-British period, there is no local government. The political units were divided into three which are ‘Negeri’ or State, ‘Jajahan’ or Daerah and ‘Kampong’ or Village. In State, the Head of State was the Ruler that responsible for foreign relationship, welfare and act as a leadership in external wars with the help of his kinsmen in the Royal lineage and by executive assistants . The second tier of political unit is known as ‘Jajahan’ or ‘Daerah’ that have the Chief acting as a leader for district that responsible for the local government administration such as revenue collection, defence and justice. ‘Kampong’ or ‘Village’ was the last tier of political unit. However, for ‘Kampong’ it was actually more of social and economic unit rather than political unit. The head of ‘Kampong’ was known as “Penghulu” that act as the messenger for the villagers to the district. Local government election was first initiated during the British occupation. Malaysia inherited a British legacy in terms of local government objectives and style and has been influenced deeply by the British precedent . During its formative stage, the laws governing the local authorities in Malaysia mostly were based on English laws. Local government authorities in Malaysia have developed through time. The first states to form local government were Penang and...
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...To what extent can Spain be called federal when compared with German federalism? This paper will serve to answer the question in the subject. It is important to bear in mind that this question will be answered via a comparison. Because of this comparison a certain structure is maintained during this paper. It will discuss the key points of the German political form first, where after the key points of Spain will be discussed. These two forms will be compared to each other, to expose to what extend Spain is a federal State. For the purpose of this paper, federalism entails that there needs to b e a form of political integration whereby the states, transfer sovereign powers to the federation. The federation then would control the actions from the states from a central government. Key-marks of federalism will be broad competence for the states, limited competences for the central government and entrenchment of divided power in the constitution. For this paper the distinction between co-ordinate federalism and co-operative federalism is made. In co-ordinate federalism each state is separate, has its own exclusive competences, its own administration, its own taxes and a minimal need for co-operation. Co-operative federalism on the other hand entails more collaboration between the states and the central government. Competences between states are mostly shared, the central government legislated and the states are to implement this legislation in most fields, the states are however...
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...equilibrium in an economy; John Maynard Keynes during the Great Depression of 1929 proposed a short run aggregate supply (SRAS) curve, which represents what is possible in the short term. I am going to focus on the AD; there are four components of the aggregate demand curve, which we can call AE for aggregate expenditure (see graph two in appendix). Those components are household consumption (C), businesses investments (I), government expenditure (G), and the net foreign sector (X). All the four components are autonomous, however, they sum up to the aggregate expenditure function that, in the Keynesian model, will determine the RGDP of a country. Therefore, the aggregate demand is crucial for the economic growth, and any shift of that function will affect significantly the overall...
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...responsibilities of government officials, security personnel, also private citizens. Next is the practice or law relating to search, seizure, as well as surveillance by police, corrections, security personnel, also private citizens. Also, compare the laws relating to the use of force by police, corrections, as well as private security. Lastly, Individual privacy rights and legislation relating to policy, practice, and procedures. In the country of the United States, which is a delegate for democracy and everything it stands for to this society. It means that the laws and regulation, give the show the will of the people also the officials in the government imitate. Also, enforce the rules and the laws according to the local, state, and as well federal rules. Shows the United States a points officials as well as, they have to swear into their position and have to pledge they will uphold the responsibilities of the job also the laws of their job. The public of the United States has to pay their taxes so that it can help to assist the government to give protection to society. Also, secure the life of people in society their property from thieves, and robbers, as well as help the government to run fluently (Dictionary of American History, 2003). Statutory authority and obligations of government authorities, security faculty, and private civilians With the government, there are various kinds of officials like mayors; the governor is also the federal government. They all have...
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...Four Functions of Management All businesses need to develop a strong management structure to guide their employees, accomplish goals, produce a quality product or service, satisfy the customer base, while making a profit. Every company from the small local grocery store to an international conglomerate with divisions around the world have to use the basic four management concepts effectively to make decisions to run their businesses. Managing include the four processes: planning, organizing, directing, and controlling. Planning is the main core process of management. The other three processes are built around the planning function. Management uses the planning function to determine the current condition of the organization, and the status of future operations. A plan is developed to detail how the company will set short and long term goals and the methods used to achieve them. Companies must identify their strengths and weaknesses, along the new areas of opportunities to implement a successful action plan. In business, there is no replacement for effective management. Companies may fly high for a while, but they cannot do well for very long without good management (Bateman, 2009). I work in the banking industry where the economy and government regulations had major impacts on operations. As the economy declined the federal government has placed stricter controls on how banks can operate. Customers complained about the existing service; wanted lower interest...
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...objectives and functions of the following agencies: i. Treasury ii. Accountant General Department Answer: i. Treasury is a central agency of government, which is one of the largest agencies in Malaysia and operates under the Ministry of Finance. The treasury has five objectives which are: * Ensure sustained and continuous economic growth * Strengthen national competitiveness and economic failure * Ensure effective and prudent financial management * Purse a more equitable sharing of national wealth * Improve quality of life and well-being of society The general role and responsibility of Treasury is to inform, to plan and to implement fiscal and budgetary policy. Among the specific functions of Treasury are: * To formulate and implement fiscal and monetary policies in order to ensure effective and efficient distribution and management of financial resources * To formula financial management and accounting processes, procedures and standards to be implemented by all government * To manage the acquisition and disbursement of Federal government loans from domestic and external sources * To monitor that Minister of Finance Incorporated companies are managed effectively * To monitor the financial management of Ministries, Government Departments and Statutory Bodies * To formulate and administer policies related to be the management of Government procurement * To formulate policies and administer Government housing loans...
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...Federal, LOCAL, AND NON-GOVERNMENT WEBSITE REVIEW Albert N. Prado HCS 457 MARCH 28, 2011 SANDI HOOKANA MSN, PMHCS FEDERAL, LOCAL, AND NON-GOVERNMENT WEBSITE REVIEW Vaccinations are a vital component for public health. Vaccinations prevent the effects of infectious disease such as pertussis. Pertussis or whooping cough is a highly contagious bacteria spread by coughs and sneezes. Small droplets containing the bacteria are transmitted through airborne methods, which cause the disease to be spread from person to person. In this website, review will inform and provide information over different aspects of government and non-government functions. The federal, local, and non-governmental agencies websites provide similar and different information. These different agencies have different structures. The review will discuss these structures. The different agencies provide different and similar structures concerning pertussis. The government and non-government agencies work together in different capacities. These agencies have public and community health purposes and work together in different capacities to provide public health. Information derived from each of the various websites overlap including the definition of pertussis. A fact sheet provides the number of cases reported in a pertussis summary report and questions and answers. Pertussis vaccination information is a major overlap between the various websites. However, the immunity from vaccines wears off over time, but...
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...Role and Functions of Law Laws provide rules of conduct and ethical standards that people, businesses, and organizations must follow in order to keep matters and differences under control and regulate social behavior. There are several functions and roles of laws in business and society which plays an important stand in business operations. Without laws and standards, businesses in today's society will be unsuccessful and society itself will fail to progress efficiently. Functions and Roles of Law in Business and Society There are several primary functions and roles of law in business and society which coincide with four levels of American law. According to the text, "Modern law in the United States regulating businesses and individuals is generally a combination of constitutional law, statutory law, common law, and administrative (regulatory) law at the federal, state, and local levels," (Melvin, 2011, p. 44). Constitutional law consist of two major functions. The fist is to impose essential structures of specific body of government, and the second is protecting a number of individuals rights from authorities, and property taken by the government. Statutory law is a written regulation generated by a state or federal ruling which can be supported or condemned by the executive branch. The function of common law has no comprehensive compilation of legal statutes and relies on legislative decisions made in similar cases. The functions of administrative law consist of...
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...financial institutions is presented with an historical overview. Some basic classifications of financial markets are described. The chapter ends with an evaluation of the importance of the financial system to the Canadian economy, and of the future of banks, given recent developments in the financial system. Learning Objectives: □ Explain what financial intermediaries do □ Explain a classification of the financial system by type of institution □ Name the original four pillars of the financial system □ Provide a classification of the financial system by type of market □ Describe the financial system in Canada □ Discuss the effects of technology and deregulation on banks, and whether banks as we know them will survive SECTION SUMMARIES Intermediation A financial intermediary (such as a bank) simultaneously interacts with savers (or lenders) and borrowers and produces a set of services which facilitate the transformation of its liabilities (such as deposits) into assets (such as loans). The function of facilitating liabilities (or assets) into assets (or liabilities) is called intermediation. Through intermediation financial intermediaries allow indirect lending (and borrowing) between savers and borrowers. Direct lending between savers and borrowers is, like barter, inefficient. In order for financial transactions to be completed there must be a double coincidence of wants. People with savings will have a given amount of funds that they will want to lend for...
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...U.S Federal Reserve Monetary Policy Sherwin Harris ECO/212 May 30, 2011 Frank Vigil Introduction The Monetary Policy relates to the activities that the Federal Reserve take on to effect the sum of money and credit in the U.S. economy. Changes to the amount of money and credit have emotional impacts on the interests rates and the performance of the U.S. economy, if the cost of credit is reduced, more people and business will borrow money and the economy will accelerate. Money The purpose and function of money can be considered a medium of exchange. Is a standard representation of value, and can be used as a payment for products, service of goods or as a measure of wealth. The assessment of money are regulated by government agencies, gold, and most market conditions, The central bank manages the nation's monetary system by increasing or decreasing the monetary supply which in good common spirit can enhance increase or downcast the affect of interest rates, and control the rate in which goods and services increase in appraisal in relation to one another. Money is not just resources of exchange; it is also a store of value for an individual, family or a society. In its modest form, money could be, and was at times, coin or pieces of paper that represented real things. Gold has been used as the backing for many currencies in most countries, the of meaning money that has no commodities or other valuables directly backing it, is often said...
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...Running Head: ECONOMICS ESSAY III 1 Economics Essay III Task: Write an essay that describes the relationship between regulation and market structures and how regulations affects the market. A Define Industrial Regulation Explain why industrial regulation exists, how it affects the market, provide entities affected by industrial regulation in terms of market structure, and why industrial regulation affects those entities. Economic regulation is a form of government intervention designed to influence the behavior of firms and individuals in the private sector (Econ Guru Web). Other forms include public expenditures, taxes, government ownership, loans and loan guarantees, tax expenditures, equity interests in private companies and moral suasion. It is the imposition of rules by a government, backed by the use of penalties, that are intended specifically to modify the economic behavior of individuals and firms in the private sector, regulation in general is aimed at narrowing choices in certain areas, including prices (airline fares, minimum wages, certain agricultural products, telephone rates), supply (broadcasting licenses, occupational licensing, agricultural production quotas, pipeline certificates "of public convenience and necessity"), rate of return (public utilities, pipelines), disclosure of information (securities prospectuses, content labeling), methods ECONOMICS ESSAY III 2 of production (effluent standards, worker health and...
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