Role of law

The law, generically known as “a body of rules of action or conduct prescribed by controlling authority, and having legal binding force” is the bond that holds the society intact. The most recognizable function is to provide some system of order. According to Melvin, that basic fulfillment of the law has spread to mean not only a definition of crimes and determination of punishment for violation of crimes, but has evolved to ensure consistency and fairness. The law has grown to promote equality and justice in society and also serves as a system for resolving disputes, ensuring rights and protecting legal interests. The role of law in business has become imminent. Legal awareness is an attractive trait that limits a managers liabilities, empowers businesses to gain a competitive edge, awaken areas of opportunities and enforce proactive business planning.
In Society
American law is very diverse and it’s often helpful to break the law down into different classifications. A basic understanding of these laws and how they pertain to society helps to plan an effective business strategy. Looking at the primary and secondary sources of law gives a better understanding of how the laws are derived and the relevance it has to the particular business. Primary sources of law include constitutional law, statutory law, administrative law and common law at both the federal and state levels (Melvin 2011). Constitutional law is the greatest law. It serves as the ultimate blueprint of other laws. Constitutions provides a basic structure and powers of a government body and protect certain rights of individuals and businesses. Statutory law is created by a legislative body and approved or disapproved by the executive branch. For example congress. Administrative law is the source of law regulates the exercise of authority by administrative agencies (Melvin 2011). And common laws are those that aren’t bonded to the strict codes of court but are laws made by courts.