Role and Functions of Law Paper: Liggett Group, Inc

Law in Business and Society
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The business realm and the society are complex entities that require guidelines to ensure that they are running in the most optimal patterns as possible. This means that there is need for specific elements that have to be followed to make sure that all the persons involved are in check. Laws are thus an integral and crucial part of the business realm and society (Killion, 2010). Laws can be defined as a body of rules that a controlling authority enforces and they have an intrinsic element of being legally binding. Ideally if the rules are not enforceable and there are no authoritative bodies to make sure that all the elements are followed, chances are that the body of rules will not have much impact in business or society (Clark, 1942). The laws have to have some checks and balances such that, anyone that is found to break the rules has to be punished for it. In the society much like in the business society, different people have different interests, and the laws act as a way of regulating the different interests to make sure that there are no parties violating the rights of others (Gale, 2007).
In business, the law plays a very subtle role in making sure that they control the business enterprises right from the structures to the various functions within each business entity (Gale, 2007). This means that, the laws do not just control the business internally but also externally relative to the way it interacts with external business entities such as customers, government agencies, suppliers and stakeholders. This means that despite the fact that business owners are at the helm of control, they still have to observe the laws (Gale, 2007). In business, laws ensure that the employers protect their employees and treat them fairly without violating the employees’ rights as humans and as staff. The case Cipollone v. Liggett Group, Inc., gives a good example of the elemental control that the law has over businesses (Law.cornell.edu, 2016). This means that businessmen have to conduct legitimate businesses that do not take advantage of th...