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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