What's Law

What is Law?
Definition of Law:
Law[4] is a system of
rules and guidelines which are enforced through social
institutions to govern behavior, wherever possible.[5]
It shapes politics, economics and society in numerous
ways and serves as a social mediator of relations
between people. Contract law regulates everything
from buying a bus ticket to trading on derivatives
markets. Property law defines rights and obligations
related to the transfer and title of personal and real
property. Trust law applies to assets held for
investment and financial security, while tort law
allows claims for compensation if a person's rights or
property are harmed. If the harm is criminalised in
legislation, criminal law offers means by which the
state can prosecute the perpetrator. Constitutional law
provides a framework for the creation of law, the
protection of human rights and the election of political
representatives. Administrative law is used to review
the decisions of government agencies, while
international law governs affairs between sovereign
states in activities ranging from trade to
environmental regulation or military action. Writing
in 350 BC, the Greek philosopher Aristotle declared,
"The rule of law is better than the rule of any
individual."[6]
Legal systems elaborate rights and responsibilities in a
variety of ways. A general distinction can be made
between civil law jurisdictions, which codify their
laws, and common law systems, where judge-made law
is not consolidated. In some countries, religion
informs the law. Law provides a rich source of
scholarly inquiry, into legal history, philosophy,
economic analysis or sociology. Law also raises
important and complex issues concerning equality,
fairness and justice. "In its majestic equality", said the
writer Anatole France in 1894, "the law forbids rich
and poor alike to sleep under bridges, beg in the
streets and steal loaves of bread."[7]
In a typical democracy, the central institutions for
interpreting and creating law are the three main
branches of government, namely an impartial
judiciary, a democratic legislature, and an accountable
executive. Law distinguishes itself from policy as laws
are the standard rules and regulations that are
compulsory. Policies are objectives that an
organization or a government sets for itself. To
implement and enforce the law and provide services to
the public, a government's bureaucracy, the military
and police are vital. While all these organs of the state
are creatures created and bound by law, an
independent legal profession and a vibrant civil
society inform and support their progress.
source: http://en.wikipedia.org

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