Understanding the Concept of Law
Law is a set of rules created by the state which form a framework to ensure a peaceful society. It is enforced by mechanisms and if it is broken sanctions can be imposed. The study of law provides insights into how laws are drafted and adjusted over time. It also highlights societal and judicial viewpoints on issues of reason, morality, order and honesty.
The concept of law is complex and many books containing different ideas about it have been written. Generally, though it is widely agreed that there are four principal purposes of law: establishing standards, maintaining order, resolving disputes and protecting liberties and rights.
There are many types of law that affect people’s everyday lives. Some examples include contract law which outlines agreements to exchange goods or services, property law which regulates the possession condition and rights of tangible and intangible assets and evidence law which stipulates which materials are admissible to build a case in court. Other areas of law are labour law, governing the tripartite industrial relationship between workers, employers and trade unions; banking law which outlines how much capital banks must have and financial regulations that govern investment; and environmental law, regulating public utilities such as water, gas and energy.
In a broader sense, the term “law” can be used to describe anything that must be obeyed. For instance, household rules are often described as laws because they must be obeyed. Likewise, an instinctive or spontaneous behavior such as running to save someone’s life from danger can be described as the law of self-preservation.
As well as regulating people’s relationships with each other, law has a significant influence on the economy and commerce in societies. Banking law regulates how much capital banks must have and financial markets are governed by the principles of company, contract, property and tort law. Environmental laws protect the world’s natural resources from pollution and energy law regulates how public utilities such as water, gas and electricity are run.
While it is important for governments to create a stable legal environment, it is equally crucial that people respect the law. It is impossible for a society to function properly without adherence to the law. Consider what would happen if people ignored traffic laws or stopped to shoplift from shops: the police would be overwhelmed and the streets of your town would quickly become dangerous places.
Law is a fascinating subject which teaches students how to think like lawyers, acquiring distinctive ways of thinking and learning a new language. Like children, it takes time for law students to develop an affinity for this new language and its forms, subtleties and nuances. However, it is an incredibly rewarding subject to study that can shape a person’s future for the better. Law provides a wide variety of career options and the opportunity to work for an exciting industry that affects everyone’s daily lives.