Role and Functions of Law Law 421 July 16, 2012 Dr. Stephen Loro The role and function of law in business and society is essential due in part because legal matters influence how both business and society operate. Understanding law and its purpose allows us as individuals in society and perhaps in our role in business to organize, prepare and plan our course of action. One of the fundamentals associated with law as we know it is the United States Constitution. In addition to the Constitution each individual state has an established Constitution; each has a part or purpose in the legal practices that govern us in society and in business. According to the textbook the Constitution has three functions the first being to set up a structure for the federal government and rules for modifying the constitution, second provide powers for branches of the government and third to grant protections and liberties for United States Citizens from illegal or unlawful government practices.
Every company involved must do its part of resolving any legal disputes, such as drafting a choice-of-law clause. Drafting this clause is a good beginning because it helps both parties protect and define specific laws. If a legal dispute does arise both parties may want to consider other options before taking any legal actions, options like; the original contract, the partnership, relations and investments with the country in which the company is located, and government laws where business is transacted. A factor that may not have a favorable outcome
Utilitarianism focuses on: | | | | | Correct Answer: | the consequences of an action. | | | | | Question 3 | | | Equity Capital Corporation provides other firms with funds to expand operations. Questions of what is ethical involve the extent to which Equity has | | | | | | Correct Answer: | an ethical duty beyond those duties mandated by law. | | | | | Question 4 | | Establishing which duties take priority over others determines a firm's views on corporate social responsibility. | | | | Correct Answer: | True.
This could in some instances include family members or close friends of the person who committed the crime.” (2006, p.1) The impact of such crimes is long lasting in particularly for violent crimes. The victims of violent crimes, if the survive at all; suffer from both physical and psychological scars. These scars can often result in tremendous loss both in their personal lives and or their work lives. When a victim has suffered from a horrific crime, the courts have occasionally considered victim's compensation as a means of at least to a degree making up for individual’s losses. Smith (2006) defines victim compensation as a “form of income redistribution designed to redistribute wealth from offenders to victims of crime” (307).
The forum in which the dispute will be settled is also a vital consideration. Culture and ethics may play a big role in the decision of the forum. Possibly jurisdiction may be considered as well? What factors could work against CadMex’x…………………………………… “Dealing with foreign laws could pose a problem----we need to have someone with relevant expertise in Candorean law and extensive knowledge of international business. Why hose local laws, when there are well accepted international laws for such transactions”.
It helps to judge objectively. It is not only the main purpose to live social life, but also deeply involved in business. People, who own company, make company’s own law in the business world. It is not only profit business but also governmental entity. Law and code of ethics are similar meaning.
Chapter 1: Law: the body of rules of action or conduct that has binding legal force. Laws must be obeyed by citizens subject to sanctions or legal consequences. English Common Law: created by the judicial system, and is the basis of the legal system in US. Civil Law: based on codes or statutes. Louisiana is a civil law state.
Short Answer What is the rule of law? Under the rule of law, all members in the United States, including but not limited to citizens (individuals), institutions, public and private and end thee state itself is to follow the rules and laws of the land. These members can also be punished in the court of law as anyone and else; everyone and everything on held on the same scale. 5. Short Answer Define the following terms in one or two sentences: 1. standing to sue- a doctrine that determine whether or not the court will hear a federal case.
Court History and Purpose 1 Court and Its Purpose The judicial system interprets and applies the law through a system of courts, each with a specific position and function. The judicial system serves a very important purpose in interpreting the law. Its purposes is to fairly administer justice, protect rights and liberties, settle disputes, and interpret the Constitution. The three main functions of courts are upholding the law, protecting individuals, and resolving disputes. (Siegel, Schmalleger, & Worrall, 2011).
Role and Functions of Law Paper Gabriel Berumen LAW/421 March 25, 2015 Prof Danielle Diaz The Function and Role of Law in Business and Society There are many factors that build up and affect business and society. Law plays a big role in these two and in many other subjects. To understand the role it plays, we must first have an understanding of what law is. There are a plethora of sources you can check to get a definition for the term. Melvin (2011) “Law is a body of rules of action or conduct prescribed by controlling authority, and having legal binding force.” (Melvin, 2011, Chapter 1).