Law: Meaning, Nature and Characteristics

Subject: Business Law

Overview

Law is a body of regulations that are enforced by power. It is a collection of ethical guidelines. It is in this manner that a court renders its judgment. Public or private law both exist. Public law is organized into three categories: criminal law, administrative law, and constitution law. Public law is concerned with the general public. Private law issues also pertain to the individual. Law is the outcome of ongoing endeavor to create a practical set of social rules. It is not purely scientific because it is founded on eternal truth. Every aspect of the person's life is impacted by it. Following are the characteristics of law:

  • Justice is a goal of law, and it is always achieved through the legal system. The goal of the law is to give people justice.
  • Create a peaceful and healthy relationship between the individuals who live in society. The law is designed to maintain this relationship by offering security.
  • Everybody is assumed to be aware of the legislation because it is ubiquitous (spreading or distributed throughout). It controls human behavior in three ways: through prohibition, requirement, and permissiveness.
  • Law-related ignorance is not an excuse.
  • The state establishes a set of laws that control how people behave.
  • It is produced and kept up by the government. It possesses a certain degree of homogeneity, fixity, and stability.
  • It is supported by a coercive power.
  • If it is broken, retribution follows.
  • It is a manifestation of popular will, and in order to give it definiteness, it is typically put in writing.
  • It has to do with the idea of "sovereignty," which is the most crucial component of the state.

Meaning of Law

Law is a body of regulations that are enforced by power. It is an interpersonal relationship between people. It has an impact on the social and economic structure. It is a set of moral guidelines. It is in this manner that a court renders its judgment. It is a rule made by a society, community, or government that is applicable to everyone who lives under it. Every civilized society is affected in terms of its political, economic, and social systems. It has an impact on everyone, either directly or indirectly, and regulates almost all known human activities. Social behavior is governed and regulated by those laws and regulations, which may be upheld in court. It works to control a person's behavior. It is enforced to keep the state's peace, security, and justice. Law and justice are connected. It is dynamic in nature and will be altered in accordance with the needs of the state; it is not static.

Public and private laws are both possible. Public law is separated into three categories, such as constitutional law, administrative law, and criminal law. Public law is concerned with the public or what appears to be the public as a whole. Private law issues also pertain to the individual. It is divided into specific categories like sales, sales contracts, negotiable instruments, etc. These topics typically relate to the business world.

According to Hooker, "Law refers to any kind of rule or cannon whereby actions are framed."

According to Salmond, "Law is the body of principles recognized and applied by the state in the administration justice."

According to Austin,"Law is a rule of conduct imposed and enforced by the state."

Black’s Law Dictionary: A rule or method according to which phenomena or actions co-exist or follow each other.

According to Justinian, "Law is the king of all mortal and immortal affairs..“

Ulpian defined law as “the art of science of what is equitable and good."

Black Stone says, "Law in it's most general and comprehensive sense, signifies a rule of action, and is applied indiscriminately to all kind of actions whether animate or inanimate, rational or irrational"

A sovereign state exists. The unique and most significant component of a country is its sovereignty. It is the state's ultimate authority over all of the people and areas that it governs. Through its laws, the state demonstrates its sovereign authority. The State's Government, which consists of representatives chosen by the populace, serves primarily as the legislative and judicial branch of government. Each law represents the state's formulated will. It is supported by the State's absolute power. It is an order from the state (sovereign), supported by its power of coercion. Every legal infraction is dealt with by the state.

Nature of Law

Law is the outcome of ongoing endeavor to create a practical set of social rules. It is not purely scientific because it is founded on eternal truth. It has an impact on all of the person's activities. Following are the characteristics of law:

  • Justice is a goal of law, and it is always achieved through the legal system. The goal of the law is to give people justice.
  • Create a peaceful and healthy relationship between the individuals who live in society. The law is designed to maintain this relationship by offering security.
  • Everybody is assumed to be aware of the legislation because it is ubiquitous (spreading or distributed throughout).
  • It controls human behavior in three ways: through prohibition, requirement, and permissiveness.
  • Law-related ignorance is not an excuse.
  • It is a set of regulations established by the government.
  • It governs how people behave.
  • It is produced and kept up by the government.
  • It possesses a certain degree of homogeneity, fixity, and stability.
  • It is supported by a coercive power.
  • If it is broken, retribution follows.
  • It is a manifestation of popular will, and in order to give it definiteness, it is typically put in writing.
  • It has to do with the idea of "sovereignty," which is the most crucial component of the state.

Ignorance of Law is not excuse

The phrase "Ignorance of Law is Not Excused" is derived from a Latin phrase that signifies that all members of a society or community must be aware of the law. Unaware of the law, a person cannot circumvent it. Unaware of the law, a person cannot avoid their responsibilities in the event that they break the state's laws. According to this idea, even if a person is unaware of the law, they must nonetheless abide by it. As an illustration, a state will punish a person for operating their business activity without their consent. Whether or not a person is aware of the law is irrelevant. Whether he is conscious or not is irrelevant. A penalty will be imposed by the state. He or she will face legal repercussions. So, not knowing the law is not an excuse.

Types of Law

There are two main kinds of law. They are:-

  1. National law
  2. International law

National Law

The body of rules which regulates the actions of the people in society and it is backed by the coercive power of the State. There are two types of national law and they are:

  • Constitutional Law: The supreme law of the nation or state is its constitution. It is spelled out in the state's or nation's constitution. The structure, authority, duties, and interrelationships of the three branches of government are outlined in the Constitutional Law. Additionally, it establishes the people's relationship with the government as well as their fundamental rights and obligations. It might be referred to as the law of the laws of the nation in the sense that all laws made by the state are based on the authority granted by the Constitution.
  • Ordinary Law: It is sometimes known as municipal law or national law. It is created by the government (legislature), and it establishes and controls the public's conduct and behavior. In it, the relationships between individuals and their associations, organizations, groups, and institutions are laid down. Legislators establish laws, the executive executes them, and the court interprets and applies them to particular situations.

International Law

The corpus of laws known as international law serves as a guidance and a direction for how states should behave in international affairs. The states' desire to abide by international law's rules is supported by that fact. It is not supported by any form of coercive authority and is the law of nations.

References:

Akrani, G. (2011, 09 2). Kalyan-city. Retrieved from http://kalyan-city.blogspot.com/: http://kalyan-city.blogspot.com/2011/02/what-is-cheque-definition-kinds-and.html

Bragg, S. (2011). accounting tools. Retrieved from www.accountingtools.com: http://www.accountingtools.com/questions-and-answers/what-is-a-bill-of-exchange.html

Ghai, K. (n.d.). your article library. Retrieved from http://www.yourarticlelibrary.com/essay/law-essay/law-meaning-features-sources-and-types-of-law/40363/

Shrestha, R. P. (2007). Business Law. Kathmandu: M.K.Books.

Things to remember
  • Law is the product of ongoing endeavor to create a practical collection of social rules.
  • Law is constantly used to deliver justice. The legal system enables people to receive justice.
  • Law is intended to protect people while maintaining harmony in relationships.
  • Three types of legal restrictions are permissive, required, and prohibitive.
  • The idea of "sovereignty," the most significant component of the state, is tied to law.
  • Because "Ignorance of Law is Not Excusable," all members of a civilized community are required to know the law. Unaware of the law, a person cannot avoid their responsibilities in the event that they break a state's law.

 

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