Introducing the Law
Chapter 1
Introducing the law
Chapter 1 | Introducing the law
1.
2.
3.
4.
5.
Law and life
The nature of law
Justice, ethics and politics
The sources of law
The Australian legal system
Law and life
Chapter 1
Introducing the law
You already know about the law ...
•... from your personal life.
•... from your business activities.
•... from the media.
•... from popular culture.
•There are very few aspects of life that are not regulated by law.
The nature of law
Chapter 1
Introducing the law
Defining the law
•Law is:
– the set of rules,
– made by the state, and
– enforceable by prosecution or litigation.
•Business law is:
– The set of rules regulating businesses and business activities made by the state and enforceable by prosecution or litigation.
Law’s ideals
The purpose of law
•Law:
– resolves disputes,
– maintains social order,
– preserves and enforces community values,
– protects the disadvantaged,
– stabilises the economy, and
– prevents the misuse of power.
Categories of law
Figure 1.2
The changing law
•The law changes regularly because of:
– political change,
– the need to fix problems with the law,
– changing community values,
– pressure from lobby groups, and
– changing technology.
Justice, ethics and politics
Chapter 1
Introducing the law
Law in context
Figure 1.3
Law and justice
•Justice can be understood as fairness, such as fair compensation or punishment, a fair decision or a fair distribution of resources.
•The notion of fairness has influenced the development of business law in many ways.
Law and justice
•The relationship between law and justice may not be necessary, but it is desirable.
•There are three types of justice:
– Distributive justice;
– Procedural justice; and
– Retributive justice.
Law and ethics
•A legal choice is one that complies with the law; an ethical choice is one that is recognised as ‘good’ and
‘right’.
•Law and ethics generally correspond, but:
– a decision that is legal may not be ethical, and
– a
Introducing the law
Chapter 1 | Introducing the law
1.
2.
3.
4.
5.
Law and life
The nature of law
Justice, ethics and politics
The sources of law
The Australian legal system
Law and life
Chapter 1
Introducing the law
You already know about the law ...
•... from your personal life.
•... from your business activities.
•... from the media.
•... from popular culture.
•There are very few aspects of life that are not regulated by law.
The nature of law
Chapter 1
Introducing the law
Defining the law
•Law is:
– the set of rules,
– made by the state, and
– enforceable by prosecution or litigation.
•Business law is:
– The set of rules regulating businesses and business activities made by the state and enforceable by prosecution or litigation.
Law’s ideals
The purpose of law
•Law:
– resolves disputes,
– maintains social order,
– preserves and enforces community values,
– protects the disadvantaged,
– stabilises the economy, and
– prevents the misuse of power.
Categories of law
Figure 1.2
The changing law
•The law changes regularly because of:
– political change,
– the need to fix problems with the law,
– changing community values,
– pressure from lobby groups, and
– changing technology.
Justice, ethics and politics
Chapter 1
Introducing the law
Law in context
Figure 1.3
Law and justice
•Justice can be understood as fairness, such as fair compensation or punishment, a fair decision or a fair distribution of resources.
•The notion of fairness has influenced the development of business law in many ways.
Law and justice
•The relationship between law and justice may not be necessary, but it is desirable.
•There are three types of justice:
– Distributive justice;
– Procedural justice; and
– Retributive justice.
Law and ethics
•A legal choice is one that complies with the law; an ethical choice is one that is recognised as ‘good’ and
‘right’.
•Law and ethics generally correspond, but:
– a decision that is legal may not be ethical, and
– a