In this essay the student will define the functions and role of law in business and in society in reference to the case brief Cipollone v. Liggett Group, Inc., et al. Also, the student will discuss the functions and role of law in her present job. Last the student will provide the conclusion followed by the list of references.
Functions and Role of Law Defined in Business and Society
According to , law is a body of rules of action or conduct advised by controlling authority and having the legal means to do so. Law can be a written code such as seen in legislature as well as judicial decisions and actions in government agencies (Melvin, 2011). Law brings order to chaos! In The Legal Environment of Business: A Managerial Approach, law is a system of order that defines crimes and levies punishment for violations (Melvin, 2011). The text also states that it is a system for resolving disputes by providing a basis for deciding the legal interests and rights of the parties (Melvin, 2011). In business, law encourages healthy business relationships between the seller and the end-user. Law holds businesses and consumers of their products accountable for their actions.
Law allows for reliability in business planning and commercial transactions (Melvin, 2011). Managers use business attorneys to help minimize business risk and the cost associated with doing business. In society law can be broken into two categories, civil and criminal law. In civil law parties can be compensated for their losses as a result of another person’s conduct (Melvin, 2011). However, in criminal laws are created to protect society and the violators of such laws receive penalties such as fines or imprisonment. Functions and Role of Law Defined in Los Angeles County Probation Department In business and society law provides rules and regulations that must be followed as a means of protection for the business world and society as a whole. There are Public and Private laws. Public laws are derived from some government entity, while private laws are recognized as binding between two parties even though no specific
In conclusion, the student defined the functions and role of law in business and in society. Also, the student discussed the functions and role of law in the Los Angeles County Probation Department. Last the student provided the conclusion followed by the list of references.
Kerzner, H. (2009). Project management: A systems approach to planning, scheduling, and controlling (10th ed.). Hoboken, NJ: Wiley.
Meredith, J. R. & Mantel, S. J., Jr. (2012). Project management: A managerial approach (8th ed.). Hoboken, NJ: Wiley.