...Law in Business and Society LAW/421 September 19, 2011 Law in Business and Society The role of law in business and society The successful operation of business and society is due to the role that law plays. In order for society to run smoothly, laws are needed to regulate social behavior. Ethical standards and expectations are also supplied by laws, while offering rules of demeanor, methods to implement those rules, and processes for settling debates. While the overall functions of law seem to be rather straightforward, the United States legal system is really very complicated. At a broad level, the major function of law is to uphold steadiness in the public, civil and economic structure while at the same time allowing change. The law achieves this essential function by presenting a number of precise functions, including dispute resolution, defense of property, and conservation of the state (Bushman, 2007). Functions of law also provide are: negotiation; checking government power and encouraging personal freedom; assisting planning and the grasp of rational expectations; boosting economic growth via free competition; promoting social integrity; and protecting the environment. Most people will agree that without laws to govern the exploits of people and businesses, society would not be capable of functioning effectively, and business would likely shut down (Bushman, 2007). In the United States, the legal system acknowledges the significance of law in day to day personal...
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...The Functions and Role of Law in Business and Society Law/421 Functions and Role of Law in Business and Society On a normal weekday, you wake up, prepare breakfast, take your kids to school and then you join the traffic jam and head to work. It may seem like a typical day, but there were many laws that influenced and allowed these actions. Regulations were followed by the utility companies to service your home. The school adhered to educational regulations for your child to attend. The city followed law regulations for you to be able to commute to work and lastly, your employer followed certain regulations to be able to operate. In Business and Society Laws play a major role in business and society in more ways that we know. Laws influence many areas of business and society that following them requires minimum thought. The purpose of laws is to maintain social control and keep the public safe by resolving issues fairly and safely (“Business Law”, 2014). Laws create and establish order by detailing what is acceptable and unacceptable behavior for society and businesses. They promote good faith dealing amongst merchants and the public. In society, public law includes criminal, administrative and constitutional laws. These laws help keep society protected by establishing what is lawful and what is not. Society feels safe when others who break the law are removed from the population. People are able to enjoy their lives outside of work...
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...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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...The Role of Law in Business and Society Vernon Padberg III LAW/421 December 23, 2014 Safiya Byars Impact of Law on Businesses and Society In today’s world, the healthcare law is having an impact on virtually every person in the United States. In the beginning of 2014 those who are uninsured must purchase coverage either on their own, through an employer's plan, or through a health insurance exchange. However, if the individual chooses not to get coverage then that person will end up having to pay a tax penalty, but those that are insured will continue to enjoy key mandates of the law such as free preventive care and coverage of adult dependents up to age 26, but at the expense of higher out-of -pocket costs. Since the Federal preemption in the healthcare industry has grown considerably in the last 10 years, most notably the Patient Protection and Affordable Care Act or Obamacare signed by President Barack Obama in 2010, there has been a sweeping change in the healthcare industry. This act preempts many of the state’s laws that have been used to regulate healthcare in the past (Tsai 2011). Furthermore, the relationship between insurance companies and patients is starting to change significantly since the law requires insurance companies to cover all applicants within new minimum standards thus offering the same rates regardless of pre-existing conditions or sex. Also additional reforms are aimed to reduce costs and improve healthcare outcomes...
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...Role and Functions of Law Travis Martin LAW/421 Bernice Jenkins Role and Functions of Law The successful operation of business and society depends heavy heavily upon the function and role of law. Regulating behavior in respect to the general society is the primary purpose of law. Law establishes a protection of guidelines for mankind, animals, and the environment regarding safety issues and concerns. The term “law” has a variety of meanings for defining and describing it throughout history. However, a general acceptable definition of law is a body of rules for the action, conduct, or behavior prescribed by a controlling power of authority with legal binding force (Black’s Law Dictionary, 2013). Law can also take the form of a written code arranged and prescribed by an elected legislative body of judicial decisions, and actions of government agencies. In American law, the current state of law concern itself with common characteristics that create duties, obligations, and rights reflecting acceptable views of a given society (Melvin, 2011). The following contents of this paper cover the functions and role of law in business and society. It also discusses the functions and role of business law in the automotive industry. It is important to indicate that originally, law dealt with the concern of problems and issues regarding ownership of property. Today’s modern legal doctrines deal with complex system of principles and protections for law that provides mechanisms...
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...Role and Functions of Law Debbie Smith LAW/421 May 21, 2013 Tiffany Brady Role and Functions of Law Law is an important element to any civilized society. Without law the parameters of civilization would remain undefined. Law applies to everything in today’s society from personal life, to employment, and finally the government. The best way to describe law is a “body of rules of action or conduct prescribed by controlling authority, and having legal binding force” (Melvin, 2011, p. 4). Therefore, laws are the basis of forming society to conduct business in normal daily operations through the roles and function of law. The laws that govern the citizens within the United States are entailed in the rights given by the Constitution of the United States. This paper will define the three specific roles of law and its function in business and society and how the law applies to employment. Definition of Role and Functions of Law in Business and Society Everything an individual does can affect the outcome and any action can be in favor of good or bad, right or wrong. The three areas of specialty roles of law are described in detail as follows: 1. Criminal and civil law – Criminal law is brought to court by the government on behalf of the people and prosecutes individuals for committing illegal acts against others or others possessions. This law is also public and can be accessed by any individual seeking information, unless a judge has ordered the case as private, specifically...
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...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...
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...Role and Functions of Law Lisa Kisella LAW/421 July 27, 2015 Jason Johannes Role and Functions of Law Laws set expectations and rules, while providing a way to allow dispute resolutions for those enforcing the laws. Laws were created to help regulate standards and encourage proper behavior. The law gives individuals the right to live in a fair society, enjoy freedom, check government, and allows justice to be enforced when necessary. The law can be very complex so it is important to understand the law. Without laws in place, a country would find themselves in chaos, which would prevent that country from running efficiently and effectively. What is Law? Laws are a set of rules that are applied to situations in an attempt to keep order. If these laws are violated they need to be enforced to prove that they need to be followed in order for society to function properly. According to Melvin law is “a body of rules of action or conduct prescribed by controlling authority, and having legal binding force” (2011). Function and Role of Law in Business Business owners want to have full control of their business but they have to abide by the laws that have been set forth and conduct business in a fair and just manner. Businesses are required to provide fair and equal business environment for all of their employees and customers. The law states that business has to provide equal opportunity to potential employees when hiring. Employees should be hired based on skills and qualifications...
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...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 has...
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...Roles and Functions of Law Law /421 December 13, 2011 Roles and Functions of Law Every since the beginning of time rules has always been implemented, used in Adam and Eva in the garden from today’s world of the U S Constitution. Rules today are now laws that are expressed in the many ways from people to business. The United State Government has various laws in effect to prevent failure and help regulate the way business is conducted by determining conditions under which persons are allowed starting business; provide public facilities, and resources. The United State Government also overseas the conduct of Industrial or business through legislation by doing that the connection between all companies segments in the economy to protect legal rights. Many businesses have to keep in mind laws that are has pass in order to maintain a creditable company. Overall the law is the policy and the government helps to aid conduct, handling disputes, and deals with illegal actions. As you continue to read, I will def outline the functions and role of law in business and discuss the functions and role of law in my past to present job. Functions and Roles of Law Today’s purpose of business is to develop, produce, and supply goods and services to consumers. There are laws that are rolled out in business and society to help protected the consumers. These laws are most in detail in the US Constitional and are classified as Criminal and Civil Law, Substantive and Procedural...
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...Role and Functions of Law The knowledge of the role and functions of the law is very important for the day to day of the individual or businesses. Some functions and roles are essential and can change the life of the one individual, or the direction of the one business. In the present job the function and role of the law is more as a guideline and can help to have a good and clean career. According to the history, law has been defined in a variety of ways; a normally traditional general description of the law is an organization of regulations of achievement or performance arranged by controlling influence, and having legal required force. The Law is set down by an elected legislative party, and also takes structure in the judicial decisions and procedures of government agencies. The law in America has that make a general characteristic which are obligation, generate duties and privileges that reproduce conventional views of a given society. The law also has the mechanism to help to resolve problems from any duty and privileges and implement promises to those parties involved in court. Law can refer in any contract agreement or any privileges that involve more of those two parties and be as a referee. The functions of the law that are important in the day to day in business and society “is to provide for some system of order that defines crimes and levies punishment for violation of the crimes” (Melvin, 2011) Also, the role of the law is to insure the consistency and fairness...
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...Role & Functions of Law By: David Johnson Class: LAW/421 Due Date: 06 April 2015 Instructor: Alan Williams Laws are the rules of actions prescribed by controlling authority and involving legal force. Laws create duties and obligations that reflect given views of a given society. In business and society, the law serves many roles and functions to uphold its main purpose of promoting fairness and equality. It is said that, the roles of law in business and society can be classified into three different categories. Those categories are civil and criminal law, substantive and procedural law, and public and private laws. All of these categories of law help define not only what is right but also what is wrong. Criminal law is a protection of society and where crimes committed by the public are prosecuted by governing bodies. Substantive law provides an individual with rights and creates certain duties while procedural laws provide a structure and set rules for pursuing substantive rights. If an individual intentionally harmed another citizen, substantive law would state how this is a crime. Civil law is used in business and society to compensate individuals or businesses for losses as a result of another’s misconduct. It determines the amount of damages the victim has suffered and is settled with compensation. An example of civil law would be if a person was suing their business partner for not living up to their business contract. If the partner suddenly became enraged and...
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...Role and Functions of Law LAW / 421 July 18, 2012 Role and Functions of Law Law has a vital and important role in our society. Law is somehow rules created and applied by the government system for peace and order in the society. Law is intended to be interpreted and applied as correctly it was intended to, reasonable and just. Every law has its purpose, and there are many laws for every situation. This also applies to business. There are many laws addressed for the business environment and for every situation in it. The purpose of this laws in business, are intended to ensure that all business related issues and situations are running properly, without affecting their businesses and customers, and/or any consequences in between. In the case of companies, laws are addressed for them to comply correctly and properly with the function and purpose of their business, employees and customers. There are also in the business environment, the labor area, laws that are intended to protect the employees and their right as workers. And there are also many laws addressed to protect and ensure the best interest for the customers. But in business and more importantly addressed to companies, there are laws that prevents them to dominated markets too aggressively and/or completely, or controlling it at all. These laws are mostly as monopoly’s laws, which are addressed directly to prevent any monopoly action or state from any company. These normally are intended for bigger or larger...
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...The Roles and Functions of Law The nation’s highest court, the Supreme Court employs some of the highest sitting judges of the nation; it is such a prestigious position in fact the President of the United States chooses you for the position. Judge William O. Douglas stands as the longest serving Supreme Court justice, and one of his most famous quotes is “Common sense often makes good law” (Academic Dictionaries and Encyclopedias, 2010). That statement defines what the law and laws are: the rules and regulations that follow the logic of common sense. Laws serve the public and maintain several roles in society. The Function of Law Law is a “body of rules of actions or conducts prescribed by a controlling authority and having legal binding force” (Melvin, 2011). The law as we know it is essentially rules and regulations used by the governing body to provide aid in determining how society is to conduct themselves, handle domestic disputes, and handle criminal actions. It is also responsible for how those responsible for upholding the law conduct themselves. The law is responsible for shaping and maintaining the integrity of politics, economics, and society, while serving as a mediator to the relationships of people. Law has a large role in how society determines its ethical standards and how we conduct our daily lives. These functions include but are not limited to promoting social justice, economic growth, and personal freedoms, keeping the peace, protecting the environment...
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...Functions and Roles of Law Christopher Cruz LAW 421 Luke Martin July 9, 2014 FUNCTIONS AND ROLES OF LAW Before a person can begin to dissect the intricacy that is “law”, one must fully understand the basic foundation that makes up “law”. Law, According to Melvin (2011), is a “body of rules of action or conduct prescribed by controlling authority, and having legal binding force” (p.1). For the average individual, hearing the word law may depict an astounding amount of words that no one has ever heard of or illustrate and image of an individual dressed in a business suit that stands in front of judges and pleads cases. Yes, this is part of Law; however, there are many layers that help shape the definition that we have all come to “understand”. When discussing the importance of Law in businesses, it is crucial to understand that Law is brought to the forefront so that businesses are held to a standard that ensures the business is creating and executing both fairly and legally. Whether a business is forming a new Board of Directors or selling a stick of gum, businesses are bound by laws set in stone to ensure that the execution of each task is accounted for and implemented, legally. Additionally, it is important to mention, that having an understanding for basic levels of Law allows business to grasp the complex effects that may arise. For example, when my mother decided it was a smart decision to invest into a Health Care Facility, she quickly found herself needing the...
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