Law421 Role And Functions Of Law Research Paper

934 Words4 Pages
Role and Functions of Law Paper LAW421 September 23, 2015 Sheila Parrish-Spence, Esq. Role and Functions of Law Paper Business law is a complex mix of state, federal and municipal statutes. These laws work collectively to ensure expectedness and equality. They also support competition by guarding property rights. It does matter how small or big a business transaction is the law makes available a way for everyone to understand his or her duties and obligations. Corporations depend on the meanings of law to safeguard their business transactions while handling business relations. Legal counsel, arbitrary contracts, order, safety, establishing a good relationship with consumers, vendors, etc. are a few functions of business law (,…show more content…
Corporations rely on the functions of law to protect their business dealings while managing business connections. Legal counsel, arbitrary agreements, order, safety, establishing good rapport with consumers, vendors, etc. are a few functions of business law (, 2015). Like you or I, businesses have to pay taxes on income they earn, and tax law determines how businesses pay taxes. Business owners can choose from one of several business options that the Internal Revenue Service’s offer in regards to tax (, 2007). Antitrust law is to encourage corporate competition by restricting anti-competitive behavior. An example is a monopolization and, agreeing with a competitor on product price fixing. The antitrust laws require that each company establish prices and other terms on its own, without agreeing with a competitor. The government can stop businesses from merging or force businesses to divide into different companies to encourage competition (,…show more content…
How they affect your employment practices, and procedures. Federal and state employment laws regulate questions you can ask possible job candidates to how employees are treated. Here are a few Federal employment and labor laws that could affect your business (All Law, 2015). Civil Rights Act of 1964 prohibits discrimination because of race, color, religion, sex, and national origin (All Law, 2015). Pregnancy Discrimination Act of 1978 is an amendment to Title VII of the Civil Rights Act. It prohibits discrimination based on pregnancy, childbirth, or related medical conditions and applies to all terms and conditions of employment, including hiring, firing, promotion, leave, and benefits (All Law, 2015).. The Americans with Disabilities Act of 1990 prohibits employment discrimination against qualified individuals with disabilities (All Law, 2015). The Age Discrimination in Employment Act of 1967 prohibits age discrimination against individuals who are forty years of age or older (All Law,

More about Law421 Role And Functions Of Law Research Paper

Open Document