Hamburg is one of the earliest written set of laws known to man. Hamburg was the ruler who created the set of codes for his people with the sole p repose of preventing chaos. Today, laws and our system of government exist for the same reason specifically maintaining stability, protecting property, and preserving the state. Laws are not a question of what is “good” or “bad”, but rather a social contract citizens compose to k pep order.
Adversely, the study and adoption of ethics answers the questions of appropriate huh man conduct. And acts as a compass for citizen’s behaviors and choices. Within this world of law an d ethics, exists an economy driven by businesses and organizations. These business can be p publicly held entities, large corporations, or small enterprises. The law and ethics society develops greatly affects how businesses operate and It Is Important to study their creation, existence, ND enforcement to properly operate a successful business.
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To understand the essentials of law, a business must know the definition. Law Is defied Ned as “a rule of civil conduct prescribed by the supreme power In a state. Commanding what is right, and prohibiting what is wrong. ” In the simplest terms, the function of law Is to presser eve the stableness of our social, political, and economic system by seeking Justice. ” The fair, equitable, and impartial treatment of competing interests with due regard for the common go ” Is the definition of Justice.
Law cannot exist without justice, yet Justice can exist without law. Due to the definition and purpose of law, many confuse its meaning with morals. An import deference between law and morals is that law administer sanction, while morals are considered a personal standard. Laws are derived from the U. S.