Law and Its Significance

[Name of the Institute]Law and Its Significance

Introduction

In order to govern social behaviour of social units, called human being, we require a system of law. It is the law, which shapes economic decisions, social conduct and political behaviour and serves as a mediator of social relations. Property is protecting through property law, which defines obligations and rights related to ownership and transfer of real property. Trading in businesses and financial trading is regulated through contract laws. For the protection of investment and assets, we have Trust laws. Tort laws allow compensation to the harmed in case of property infringement (for example, copyright infringement).

Criminal law protects the life of social units in case they are harmed. Criminal law allows the persecution of the person behind the crime. The framework for the protection of people and creation of law is provided by constitutional law. Government agency acts are evaluated against administrative law, while the international relations, trade, relations and other affairs are governed by the International Law.

Organism of Law

According to Aristotle, The Greek thinker, the rule of law is better than the rule of any individual. This statement underpins the deep concern which leads to the establishment of law and then, rule of law.

Legal system contains the code of responsibilities and rights of citizens. There are two distinctive concepts, civil law jurisdictions which are responsible for codifying laws and the common law, in which laws are made by a judge during any legal proceedings. In many societies, religion forms the basis of laws. The importance of law can also be understood by the fact that, law forms the basis of providing and ensuring justice, fairness and equality. According to a writer, Anatole France, the law prohibits rich and poor alike to sleep under bridges, beg in the streets and steal loaves of bread.

There are three main entities in a democratic state, which are responsible for creating and interpreting law including a democratic legislature, a fair judiciary and an accountable executive. There is a distinction between law and policy. Laws is the standards and compulsory regulations and rules which are same for the whole society, while, policies are those objectives which businesses and government sets for them self. There are three important entities which are responsible for enforcing and implementing law including police, military and democratic government. Although law works as a coherent system where sound functioning of independent parts is essential for the effective functioning of the overall system, but society is also a vital part which needs to support and abide by the law.Arguments and Theories Regarding Law

It is very difficult to give a straightforward answer to need for law. In the past, there were no practices for speaking against laws and lawmakers but today's society is far more expressive, questioning the legal processes and its effectiveness. These changes in an individual's behaviour are due to changes in society itself. A law is a command of sovereign, stated Hobber. Then we study the principle of utility which points to the benefit and usefulness of an action in order to implement ...