can send it to you via email. In fact, computer law is even a subspecialty within business law because of its importance in this realm. Legal basics such as ethics, court system structure, substantive law, and procedural law are foundational. Property – defines the rules and obligations in renting, buying, or selling property, whether it is a home, business, or land. ReferencesBushman, M. (2007). Some of the largest legal areas necessary in business include the following: Commercial law, a branch of civil law, comprises governance of commercial and business transactions in both the public and private realms. Hire the top business lawyers and save up to 60% on legal fees. Computer law analyzes and governs the impact of computer technology on other areas of. we might edit this sample to provide you with a plagiarism-free paper, Service Trust – defines the rules applied towards assets such as investments. Often, this involves the expertise of a specialist who can help entrepreneurs succeed in an area such as law or finance. (2007). Where this is most apparent is in its three classifications: 1.Criminal and Civil Law – Criminal law is the law through which public commitment of crimes are prosecuted by governing bodies, whereas civil law is the law through which private parties may bring lawsuits against one another for real or imagined wrongdoings. Business laws exist to create reliable standards for companies to follow. Taxation 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. 6.Protecting the environment. Some of the largest legal areas necessary in business include the following: 1. Instead the driver and only the driver would be the one at fault, and the victim would have only the driver to seek compensation or prosecution against. Criminal – defines the means through which any criminal act can be prosecuted and sees that the perpetrator is punished. Tort – defines the means by which an individual or company can receive compensation if themselves or their property are damaged or harmed in some way. Most recently, new areas of business law must navigate the effects of modern technology. Whether it is corporate, personal, or societal, laws are created to protect the interests of the masses. E.g. If you own a business, you'll need an attorney and an accountant to make sure you're in compliance and running smoothly. Reforms to the commercial code focus on identifying and correcting inconsistencies and gaps in the law. 2. However, more restrictive trade practices have also been introduced in the modern era. The Role and Functions of Law in Business and Society. A Bill refers to the final proposal of a law. These functions of law protect the interests of individuals and businesses through a system of rules, enforced by governing bodies. 5.Promoting social justice. Corporate law governs the formation of corporations and sale of corporate equities. Role and Function of Law Paper Andrew Urey LAW/421 July 10, 2013 Winifred Cannon Role and Function of Law Paper In society as well as a business, law plays a significant role in their daily operation. The purposes and functions of business law include maintaining order, protecting rights and liberties, establishing standards, and resolving disputes.3 min read. Businesses large and small must comply with the same legal regulations. 2.Checking government power and promoting personal freedom. Conclusion. 89 v. Department of Education, Zenith Radio Corporation v. United States, GET YOUR CUSTOM ESSAY William O. Douglas said, “Common sense often makes good law.” Well that is what laws essentially are, rules and regulations that make sure common sense is followed. It's important for business owners to understand how business law impacts commerce both domestically and abroad. While “common sense makes good law”, criminals and the dishonest do not necessarily have common sense, and it is up to governing bodies to protect not only the innocents from the criminals, but also to protect the criminal from themselves. Was this document helpful? Environmental law strives to mitigate the impact businesses have on the environment by limiting water and air pollution, regulating pesticide and chemical use, and establishing penalties for violating these laws. For a society to be efficient and effective, laws have to be put into place to regulate social behavior. Antitrust and competition are also included. According to the textbook, Business Law: The Ethical, Global, and E-commerce Environment, 13th Edition (Mallor, et al, 2007, p. 11), the most important functions of law include the following: 1.Peacekeeping. This practice area includes regulations and statutes related to businesses, individuals, and families in their roles as workers, citizens, and consumers. Maintaining order is necessary for a civilized society. The Functions and Role of Law in Business and Society The Functions and Role of Law in Business and Society If you need this or any other sample, we LAW is a set of rules of conduct, established by government, for all members of society to obey and follow. E.g. Disputes can also be resolved through alternative dispute resolution, which are official but less formal methods such as mediation and arbitration. Please, specify your valid email address, Remember that this is just a sample essay and since it might not be original, we do not recommend to submit it. 3. Business and the Constitution ch2.docx There are six (6) main functions of laws in a country. According to the textbook, Business Law: The Ethical, Global, and E-commerce Environment, 13th Edition (Mallor, et al, 2007, p. 11), the most important functions of law include the following: 1.Peacekeeping. (2004). According to Reference.com (2007), law is defined as: “rules of conduct of any organized society, however simple or small, that are enforced by threat of punishment if they are violated. Write a summary in a minimum of 1,400 words in which you discuss the roles of law and courts in today’s business environment. Academic Content. In addition to these four core functions, the law serves many other specialized functions. Purpose of Business Law. Contract law includes drafting, rights assignment, work delegation, transactions, agreements, breach of contract, and remedies for a br… Discuss the functions and role of law in your past or present job or industry. The Uniform Commercial Code (UCC) is part of contract law governing sales. Contract law includes drafting, rights assignment, work delegation, transactions, agreements, breach of contract, and remedies for a breach. Areas of commercial law include land and sea transportation, agent and principal, merchant shipping, insurance, partnership, guarantees, corporate contracts, sale and manufacture of consumer goods, hiring practices, and bills of exchange. Contract – regulates everything from buying a new computer to selling a business. substantive law would state that hitting someone with a car and driving off is a crime, while procedural law would define how the courts could try and sentence in the case. One could even say that laws are enforced ethics. If you need help with the purposes and functions of business law, you can post your legal need on UpCounsel's marketplace. pass plagarism.Include the following: Explain the origins of the U.S. judicial system and how the judicial system impacts and affects …

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