Premium Essay

Law -What Is Business for

In:

Submitted By sara2009
Words 463
Pages 2
Summary Ch.3
An Introduction to Law and Legal Institutions

Every country needs a set of rules that should be forced on people to regulate their behavior. This is what LAW is. Back in the years, in medieval Europe, the king had the power to initiate any law, what happened is that the king would choose a set of social norms ( laws of nature) and try to enforce some of them. So, over the years, with many of the King’s laws on crimes, property, and so on, the present court and judges take those cases into consideration to try and give a justified sentence to similar cases. In short, if the two parties are disagreeing on what the law is, and a similar dispute has been solved in the past, then the common thing to do is to follow the past precedent. This is called ‘the Common law’. To mention some of the countries that use the common law, they are England, U.S, Canada, Australia, Ireland, and etc. However the issue is different in France, where in the revolutionaries believed that the king where corrupt and worth nothing so they killed him, and thus abolishing the common law in France. Another major law is the ‘Civil Law’, also called the ‘Napoleon Code’. The two laws differ in how the much the Judge is evolved in the sentencing. For example, in the Common Law the judge has no authority to direct any questions to either side of the party in a court room. That will be the lawyer’s job to do and the judge should be neutral. On the other hand, in the Civil Law, the judge has an active role in being evolved in directing as many questions as he wants, and engaging in arguments. The lawyer’s job here is to respond to the judge’s questions. Another difference is the use of juries. The juries are used constantly in the common law to give the final sentencing of whether the defendant is guilty or not. In 1966, England has abolished the jury in all the trial; however

Similar Documents

Premium Essay

What Impact Does Technology Laws Have on Business in America?

...What Impact Does Technology Laws Have On Business In America? Tracy Bennett Herzing University 02/13/2015 What impact does technology laws have on business in America? We live in a world where laws control how America operates and how our society functions (Arndt, n.d.). We also live in a world where technology has taken over and for many it would be inconceivable to imagine living in a world without technology. Technology has changed the way we live and communicate (Winston & Edelbach, 2014, p. 2). Technology has also changed the way companies conduct business. It has opened up new opportunities for companies to gain more business but at the same time has also created new ethical problems and therefore lawmakers have had to design new technology laws that have had a major impact on American businesses. Technology laws can impact American businesses in a variety of ways from software licensing agreements, privacy issues, and the use of electronic signatures. In order to keep up the pace with changing technology businesses continuously change their operating software (Information Technology Law, n.d.). Continuously changing software programs has the benefit of greater profitability for the company but at the same time it can also create some major problems. Business managers and owners can run into legal issues if they do not fully understand the rules and laws of the licensing agreement which could result in a huge lawsuit against...

Words: 1009 - Pages: 5

Premium Essay

Lwc1 Cos

...- Fundamentals of Business Law and Ethics Course of Study Your competence will be assessed as you complete the LWC1 objective assessment for this course of study. This course of study may take up to 10 weeks to complete. Introduction Overview There are the two major subdomains of study within the Fundamentals of Business Law and Ethics Course of Study: business law and business ethics. The exam covers 11 business law and ethics concepts, including the following: contractual relationship government regulation of business dispute resolution labor and employment law hiring and employment practices warranties, negligence, and liabilities Sarbanes-Oxley Act ethical issues in business ethical leadership ethics programs use of company resources You likely have had some experience with the legal system, either through your own encounters or merely through listening to the nightly news, and you have probably read or heard about various ethical and legal issues causing financial upheaval in today's business world. This background will serve you well in this study. Now you can expand on that experience, and perhaps refine and enhance your own views on these issues. Once you complete this course of study, you will have demonstrated a level of competence that you can immediately use in your work setting and career. Outcomes and Evaluation There are 10 competencies covered by this course of study; they are listed in the "Competencies for Fundamentals of Business Law and Ethics (LWC1)...

Words: 8481 - Pages: 34

Premium Essay

Role and Functions of Law

...Role and Functions of Law LAW/421 November 3, 2014   Role and Functions of Law “Law plays a significant role in the successful operation of business and society” (Bushman, 2007). Laws create order and allow a government to instruct citizens on what is acceptable behavior. These laws, better known as public laws, provide a clear set of rules for citizens to follow. What is Law? According to Melvin, law is defined as “a body of rules of action or conduct prescribed by controlling authority, and having legal binding force” (2011). The main purpose of law is to govern a society and to control the behavior of individuals. Law can be viewed as a form of social control as it establishes rules and regulations. Role and Function of Law in Business Law rules every phase of business. All businesses rely on law to protect their business from lawsuits brought by consumers, vendors, suppliers, and employees. Business law details what a company can and cannot do as well as certain things that must be done. There are laws that control taxation, competition, intellectual property, employment, and environmental concerns (Bushman, 2012). The law affects how business is formed and structured. Employment laws protect individuals and employers as it defines ways to handle conflicts, provide fair platforms to conduct business, and ensure equal opportunity. For example, the law states the businesses must provide equal opportunity to potential employees during the hiring process. An...

Words: 734 - Pages: 3

Premium Essay

Roles and Functions of Law Paper

...Functions of Law Paper LAW/421 July 31, 2014 Role and Functions of Law Business Law is defined as a set of laws and regulations on how to form, start, and operate a business. It also forms the rules that all businesses should follow. All laws that are governed within business work together and seek to guarantee fairness and justice between all transactions. Corporations rely on the functions of law to protect 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 to meet with other parties and discuss a dispute with an arbiter, attempting to get a legally binding agreement. Arbitration agreements are usually seen as final opinions on the legal issues involving the parties in the arbitration process. Companies often use arbitration when dealing with legal matters involving employees because it cuts the costs of doing business and shortens the amount of time spent on legal matters (Vitez, 1999-2014). A major function of business law is to avoid potential legal obligations that can be harmful to the company. According to Vitez (1999-2014), “Business law also helps companies...

Words: 765 - Pages: 4

Free Essay

Laws 310 Entire Course the Legal Environment Devry

...LAWS 310 Entire Course The Legal Environment DeVry Purchase here https://sellfy.com/p/NAvv/ Product Description LAWS 310 Entire Course The Legal Environment DeVry LAWS 310 Heart of Atlanta Motel Homework Week 1 DeVry LAWS 310 Quiz Week 2 DeVry LAWS 310 You Decide What is Business Formation? Week 3 DeVry LAWS 310 Quiz Week 4 DeVry LAWS 310 You Decide Week 5 DeVry LAWS 310 Quiz Week 6 DeVry LAWS 310 You Decide Week 7 DeVry LAWS 310 Discussions Week 1-7 All Students Posts 532 Pages DeVry LAWS 310 Final Exam DeVry LAWS 310 Entire Course The Legal Environment DeVry Purchase here https://sellfy.com/p/NAvv/ Product Description LAWS 310 Entire Course The Legal Environment DeVry LAWS 310 Heart of Atlanta Motel Homework Week 1 DeVry LAWS 310 Quiz Week 2 DeVry LAWS 310 You Decide What is Business Formation? Week 3 DeVry LAWS 310 Quiz Week 4 DeVry LAWS 310 You Decide Week 5 DeVry LAWS 310 Quiz Week 6 DeVry LAWS 310 You Decide Week 7 DeVry LAWS 310 Discussions Week 1-7 All Students Posts 532 Pages DeVry LAWS 310 Final Exam DeVry LAWS 310 Entire Course The Legal Environment DeVry Purchase here https://sellfy.com/p/NAvv/ Product Description LAWS 310 Entire Course The Legal Environment DeVry LAWS 310 Heart of Atlanta Motel Homework Week 1 DeVry LAWS 310 Quiz Week 2 DeVry LAWS 310 You Decide What is Business Formation? Week 3 DeVry LAWS 310 Quiz Week 4 DeVry LAWS 310 You Decide Week 5 DeVry LAWS 310...

Words: 760 - Pages: 4

Premium Essay

Role and Functions of Law Paper

...05/15/2012 LAW/421 Role and Functions of Law Paper Creating and running a business is no simple feat. There are so many things that you need to do to get a business up and running. There are many little details that have to be worked out to have an office or store. It can be so difficult to know how to cover all these areas. Once you have a solid business plan and have an idea of how to open an office or store, you have to consider the different laws that are in place. So many people underestimate what it takes to open and run a small business. Not only do they have to know the industry and how to manage a business in a particular economy, but you have to understand the laws that protect you and other companies in your industry and investors. Respecting and appreciating the role of law in business is very important. Some companies try and work around it, or avoid it causing major strain and headache for the owners and even employees. If you can understand the laws and appreciate what they’re trying to do, it will make your job and life much easier. A lot of small businesses run into issues with labor laws or advertising laws. This is because many people assume they know how these laws and rules should work, but don’t know all the details. Especially in smaller startup companies, advertising laws can really hit a company hard. Often times, they’re so eager to get the business rolling, it seems like they’ll say just about anything to get business. In businesses that have migrated...

Words: 770 - Pages: 4

Premium Essay

Role and Functions of Law

...Role and Functions of Law In this report, it will discuss and define the functions and role of law in business and society. We will also discuss the functions and role of law in our past or present job or industry. We will go off the bases of what is law and how it is use. In society as well as a business, law plays a significant role in their daily operation. For a society to be efficient and effective, laws have to put into place to regulate social behavior. Law, defined as a body of rules of conduct of binding legal force and effect, prescribed, recognized, and enforced by controlling authority. Our system of societal life could not exist without a set of rules that govern human behavior or business interactions. Law plays a significant role in the successful operation of business and society. Laws regulate social behavior, which leads to a society that runs efficiently. Laws also supply ethical standards and expectations, while providing rules of conduct, measures to enforce those rules, and a means for settling disputes. Other functions of law include: peacekeeping; checking government power and promoting personal freedom; facilitating planning and the realization of reasonable expectations; promoting economic growth through free competition; promoting social justice; and protecting the environment (Mallor, Barnes, Bowers, and Langvardt). It is important to note that without laws to govern the actions of people and businesses, society would not be able to function effectively...

Words: 841 - Pages: 4

Premium Essay

Role and Functions of Law

...Role and Functions of Law Paper Kelly Barnes Law 421 November 19, 2012 John Cross Role and Function of Law Paper Introduction Law has a big role in business and society. Laws help society run smoothly, by regulating social behavior. Law functions to maintain social control and protects public order by solving problems in a proper manner. Law gives the people guidelines on ethical standards and expectations, rules of conduct, procedures to enforce those rules, and ways for settling disputes. If there was not law, society would be dysfunctional and people would suffer. Cipollone v. Liggett Group, Inc Cipollone (plaintiff) was suing the Liggett Group, Inc (defendant) because he thought the cause of his mother’s death was from the hazards of smoking. Cipollone was accusing Liggett and other cigarette manufacturers for false advertising, fraudulently misrepresenting the hazards of smoking, and conspiracy to deprive the public of medical and scientific information about smoking (Melvin. 2011). The Liggett Group believed two federal laws, which are the Federal Cigarette Labeling and Advertising Act of 1965, and the Public Health Cigarette Smoking Act of 1969 protected them. U.S. Supreme Court ruled against Cipollone, stating that federal law preempted his claims that were relying on state law (Melvin. 2011). Functions of Law in Business Most businesses depend on external legal help, but changes in the business environment have made giving businesses the opportunity...

Words: 661 - Pages: 3

Premium Essay

Roles and Function of Law

...Roles and Functions of Law Laws must be observed in order for business, society, and local government to operate proficiently. Laws are put into place to help keep people’s behaviors in order and to regulate standards. Law is a body of rules of action or conduct prescribed by controlling authority and having legal binding force. The common characteristic of the current state of law is that it creates duties, obligations, and rights that reflect accepted views of a given society (Melvin, 2011). The law provides a format to resolve disputes that arise from the duties and rights and allows parties to enforce promises in a court of law. Laws serve many roles and functions in business, society and local government. Roles and Function of Law in Business Business laws establish guidelines for what companies can and cannot do, as well as certain things they must do. Law is a broad discipline with several fields that serve important functions. Just like individuals, businesses are responsible for paying taxes on income that they earn, and tax law determines how businesses pay taxes to the government. The Internal Revenue Service lets business owners choose from one of several business structures that affect taxation. The antitrust law is designed to promote business competition by curbing anticompetitive behavior such as price fixing and monopolization. Competition is good for the economy because it tends to lead to better products and services as well as fairer prices. Intellectual...

Words: 722 - Pages: 3

Premium Essay

Law Paper

...Business and Society Law David White LAW/421 May 14, 2013 Page Beetem Business and Society Law In looking at the role of law in business and society, it is helpful to first understand the definition of Law and how that definition is applied in the business environment. Law of some variety has been a part of society since the time of the most primitive societies. Initially, the primary purpose of the law was to keep the peace, but as society became more complex and developed, the law took on additional functions. Today, at least eight major functions of law can be identified: (1) to keep the peace, (2) to influence and enforce standards of conduct, (3) to maintain the status quo in certain aspects of society, (4) to facilitate orderly change, (5) to allow for maximum self-assertion by the individual, (6) to facilitate planning and the realization of reasonable expectations, (7) to promote social justice, and (8) to provide a mechanism for compromise solutions between polar principles and positions. (World Academy Online, 2012) Commercial law, also known as business law, is the body of law that applies to the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising, trade, and sales. It is often considered to be a branch of civil law and deals with issues of both private law and public law. Some general concepts of business law include malpractice, fraud deterrence, financial regulation, international trade law, employment issues...

Words: 863 - Pages: 4

Premium Essay

Supply and Demand Simulation

...Role and Functions of Law Amador Ferrer BUS 421 Contemporary Business Law February 22, 2012 Harold Coleman Jr. Role and Functions of Law Law plays a significant role in the successful operation of business and society. Laws regulate social behavior, which leads to a society that runs efficiently. Laws also supply ethical standards and expectations, while providing rules of conduct, measures to enforce those rules, and a means for settling disputes. Other functions of law include: facilitating planning and the realization of reasonable expectations, peacekeeping, promoting economic growth through free competition, checking government power and promoting personal freedom, promoting social justice, and protecting the environment. It is important to note that without laws to govern the actions of people and businesses, society would not be able to function effectively, and business would likely fall down. Law establishes moral balance in society. The goal of law is to set up a framework in which tremendous value can be created but in a way such that human rights are preserved and the basic tenets and morals of society can be preserved, they’re protected (Bagley, Clarkson, Power, 2010). Law sets the rules of the game and kind of defines how, from a public policy point of view, how we in society think business should run or should act or what limits should be set upon business. This, in turn, leads...

Words: 791 - Pages: 4

Premium Essay

Castomer Satisfaction in Commercial Bank

...Law 1. Define company? How many kinds of companies? Distinguish between private Ltd. and public Ltd. company. 2. What is Memorandum of Association? What are the elements of Memorandum of Association? What are the stages in the formation of a company? 3. What is capital? Describe briefly the source of companies’ capital? Define share? Describe briefly the classification of share? 4. Define contract? Describe briefly the essential elements of contract? Define Law? Describe briefly the classification of law? 5. Define partnership? The essential elements of partnership? Classes of partners and classes of partnership? 6. Short Notes: a) Article of Association. b) Difference between Memorandum of Association and Article of Association. c) Authorized Capital. d) Paid-up capital. e) AGM f) EGM. Q: What is contract? Describe the elements of contract? Ans. Section 2(h) of the Contract Act, 1872 provides that, “An agreement enforceable by law is a contract.”Therefore, in a contract there must be (1) on agreement and (2) the agreement must be enforceable by law. Agreements which are not enforceable by law they are not contract. Elements of contract: The essential elements of a contract are explained below: (1) Offer and acceptance: There must be a lawful offer by one party and a lawful acceptance of the offer by the other party or parties. “Lawful” implies that the offer and acceptance must conform to the rules laid down in the contract act 1872. (2) Intention...

Words: 2106 - Pages: 9

Free Essay

Law 421

...creating a new system of governing laws. Since the constitution went into effect on March 4th 1789 it has played a key role in its functions in business and society throughout the United States. Laws help regulate business by ensuring good business practice and also stands in place for the protection of the employer and employee rights within the workplace. Documentation and legal representation are key when adhering to the many laws incorporated in business. In order to protect and regulate business and society two types of laws are enforced, State law and federal law. Through intrastate and interstate regulation, state laws and federal laws operate differently in its functions and roles in business. These laws set in place from our constitution both federal and state have given structure to a successful and thriving business market and overall society. What is the difference between state law and federal law and what roles do they play in business and society? State law controls the intrastate regulations of business practice whereas federal laws regulate all business practice Interstate. Intrastate is the regulation of laws within the borders of one specific state and interstate is the regulation of laws between multiple states. When business practice operates within only one state and its business does not cross into multiple states, they operate under intrastate laws and regulations which in most cases are protected by state law. When business practice operates from state...

Words: 945 - Pages: 4

Free Essay

Further Fair, Balanced, and Competitive Business Essay

...Week 3 Research Paper DeVry University  The United States has several laws that are intended to further fair, balanced, and competitive business practices. Do you think that such laws are effective? If so, why? If not, why not? Be sure to provide evidence to support your position one way or the other. Before the late 1800’s there were no laws to protect consumers and the process of competition. Often times, the consumers and the well being of all were not taken into consideration before these antitrust laws were put into act. The business owners were more often than less, only looking to make a profit no matter what that took. Thankfully, in 1890 Congress passed the first antitrust law, the Sherman Act as a “comprehensive charter of economic liberty aimed at preserving free and unfettered competition as the rule of trade.” This law states that, “This Act outlaws all contracts, combinations, and conspiracies that unreasonably restrain interstate and foreign trade. This includes agreements among competitors to fix prices, rig bids, and allocate customers, which are punishable as criminal felonies.” (www.ourdocuments.gov/, 2014) A law designed to restore competition and free enterprise by breaking up monopolies. The original intention of the Sherman Antitrust Act was to protect consumers from big businesses that were using unscrupulous means to raise prices artificially, such as intentionally producing too few goods to meet consumer demand and thereby driving up the products'...

Words: 1440 - Pages: 6

Free Essay

Law 421

...RODNEY E. HAYS LAW 421 ADDRESSING INTERNATIONAL LEGAL AND ETHICAL ISSUES AUGUST 7, 2014 KEVIN MINCHEY Addressing International Legal and Ethical Issues Simulation Summary 1. What are the issues involved in resolving legal disputes in international transactions? In a standard legal dispute involving from an international trade transaction, it is foreseeable that an issue in the jurisdiction of private international law might arise. Each country conducting transactions needs to be aware of all legislations and international laws. Whether any foreign judgment obtained abroad might be enforceable in the home country. All companies conducting international transactions aboard should know what jurisdiction to try the dispute. They should know which country’s laws are applied to resolve all issues with the international transaction 2. What are some practical considerations of taking legal action against a foreign business partner based in another country? What any business needs to consider is the laws of the country they are thinking of doing business in. A U.S Company has to remember, a law in the U.S. is not the same law in another country. Should a law be broken, it may not be enforceable in another country as it can be enforced in the U.S. Even though, a contract is binding agreement, it is only binding if the law agrees. 3. What factors could work against CadMex's decision to grant sublicensing...

Words: 556 - Pages: 3