Law is a
system of rules and guidelines which are enforced through
social institutions to govern behavior, wherever possible.
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."
powered by
Loading More Stories
