Role and Functions of Law

Question: #5659

Phoenix Professor

LAW 421

XX/XX/14

Write a 700- to 1,050-word paper in which you define the functions and role of law in business and society. Discuss the functions and role of law in your past or present job or industry. Properly cite at least two references from your reading.

Format your paper consistent with APA guidelines

Solution: #5660

Role and Functions of Law

Role and Functions of Law Phoenix Professor LAW 421 XX/XX/14 Write a 700- to 1,050-word paper in which you define the functions and role of law in business and society. Discuss the functions and role of law in your past or present job or industry. Properly cite at least two references from your reading. Format your paper consistent with APA guidelines Introduction In order to truly understand the functions and role of law in business and society, we must first define what law is. Law can be defined as “a body of rules of action or conduct prescribed by controlling authority, and having legal binding force” (Melvin, 2011). In the United States, the Supreme Court is the highest court in the land. The Supreme Court consists of nine judges who are selected by the President of the United States and are also known as Supreme Court Justices. The longest serving Justice, Justice William O. Douglas, summarized what law is when he said “Common sense often makes a good law” ("Common Sense Often Makes A Good Law ", 2006-2014). This paper will discuss the functions and role of law in business and society. The Function of Law Modern day law can come in many forms. Some of those forms include legislations and policies which are passed and enforced by a controlling body or government. The purpose of these laws is to regulate how society functions and interacts with others. In additions, laws set the standards of what is considered right or wrong behavior within a society. According to Melvin (2011), “the current state of law is that it creates duties, obligations, and rights that reflect accepted views of a given society.” For example, murder is wrong but defending your life against a murderer is right. Law also regulates conflicts between individuals and families, speed limits, and community standards like education and health standards for restaurants. Depending on the severity of the law broken, an equal punishment will be handed down. For example, if you break the speed limit you will have to pay a fine. If you commit premeditated murder, you will likely face the death penalty. Laws are passed with the intention of protecting the members of a society and making it a safer place to live. In addition to regulating and setting standards for behavior within a society, laws also regulate and set standards for how business should be conducted. Business laws set the ethical standard and expectations for businesses by defining which business practices are ethical and which are unethical. For example, an employee taking credit for another employees work is an example of unethical behavior within the business environment. According to Vitez (2014), “Companies use legal advice when making important business decisions to avoid potential legal liabilities when selling goods and services. Business law also helps companies generate more sales through the use of contracts or agreements with other companies. These agreements may be needed to ensure that proper pricing and customer service is maintained during the business relationship. Changes to previous agreements or contracts may also need to be reviewed by the company’s legal...