BL 2990 Lecture 4: Business Law Chapter 1-7
Document Summary
Chapter 1: introduction to law and legal reasoning. Law- a body of enforceable rules governing relationships among individuals and between individuals and their society. One of the most important functions of law in any society is to provide stability, predictability, and continuity so that people can be sure of how to order their affairs. A judge"s fu(cid:374)(cid:272)tio(cid:374) is (cid:374)ot to make the laws that is the function of the legislative branch of government but to interpret and apply them, they have some freedom to interpret the laws however. Dates back to the days of the greek philosopher aristotle (384-322 b. c. e. ), according to him natural law applies universally to all humankind. (cid:862)(cid:374)atu(cid:396)al (cid:396)ights(cid:863), (cid:862)good(cid:863) (cid:448)s. (cid:862)(cid:271)ad(cid:863), fo(cid:396) (cid:271)usi(cid:374)ess, f(cid:396)ee of dis(cid:272)(cid:396)i(cid:373)i(cid:374)atio(cid:374) i(cid:374) the (cid:449)o(cid:396)kpla(cid:272)e. Positive law- the body of conventional, or written, law of a particular society at a particular point in time.
