Role and Functions of Law in Business and Society

The relevance of law and order in both business and society cannot be overstated. In this text, I address both the functions as well as the role of law in business and society. In so doing, I will also state the primary role played by law in my present job industry.

In basic terms, law permeates almost every facet of our daily lives. To properly highlight the role law plays in business and society, there is a need to first define the term law. It is important to note from the onset that law as a term does not have an assigned definition. In that regard, scholars and legal experts have over time attempted to define law by floating various definitions of the same. One of those who have attempted to define law is William Blackstone. According to Mann and Roberts...
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