The Role and Functions of Law in Business and Society Term Paper by SBurtis

The Role and Functions of Law in Business and Society
A brief look at the role of law in the functioning of both business and society in general.
# 152663 | 1,267 words | 2 sources | APA | 2012 | US
Published on Apr 11, 2013 in Business (Law) , Law (General)


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Description:

The paper outlines the complex structure of the United States' legal system and how it works to ensure fairness, order, safety, and efficiency for a successful society. The paper reviews the role of a constitution, statutes, administrative regulations and decisions, and common law, and also looks at executive orders, treaties and ordinances. The paper identifies the different classifications of law and the various types of courts and discusses the role of law in this author's job in Macy's department store. The paper aims to show how law is a vital component of everyday life for society as a whole and for business in particular.

Outline:
Constitutions
Statutes, Administrative Regulations and Decisions, and Common Law
Executive Orders, Treaties, and Ordinances
Classifications
Courts
Role and Functions of Law: My Present Job Industry
Conclusion

From the Paper:

"For the successful operation of business and society, law is a necessary and vital component. Society cannot run effectively and efficiently without mandates regarding social behavior. By providing standards and expectations - a code of conduct and ethics - means of enforcement and a platform for legally settling disputes, the law is able to maintain a semblance of peace and order. The law has other functions as well: checks and balances of government power, facilitating the planning and realization of expectations, promoting economic growth and social justice, and protecting the environment we collectively live in. The law must exist to govern the actions of people and businesses. Society could not function without this important component, and the consequences to the people and commerce would be catastrophe and collapse. The U.S. legal system is not simple. It is a complex structure in which laws are broken down into several different categories: constitutions, statutes, administrative regulations and decisions, executive orders, treaties, ordinances, and common law (Mallor, Barnes, Bowers, and Langvardt).
"A constitution is the highest law in a country, city, state, or other location. Constitutions establish the fundamental principles of governing law. They allow governing bodies to establish separate branches of authority at all levels and to limit and grant specific powers to each branch, including placing limits on the passage of laws and the violation of individual rights."

Sample of Sources Used:

  • Mallor, J., Barnes, A., Bowers, T., Langvardt, A. "Business Law: The Ethical, Global and E-Commerce Environment." 12th ed. Burr Ridge: McGraw-Hill/Irwin.
  • Melvin, S.P. (2011). The legal environment of business: A managerial approach: Theory to practice. New York, NY: McGraw-Hill/Irwin.

Cite this Term Paper:

APA Format

The Role and Functions of Law in Business and Society (2013, April 11) Retrieved November 29, 2020, from https://www.academon.com/term-paper/the-role-and-functions-of-law-in-business-and-society-152663/

MLA Format

"The Role and Functions of Law in Business and Society" 11 April 2013. Web. 29 November. 2020. <https://www.academon.com/term-paper/the-role-and-functions-of-law-in-business-and-society-152663/>

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