Management and Organizational Studies 2275A/B Chapter Notes - Chapter 1: Business Ethics, Neutral Party
22 Sep 2016
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Document Summary
The law is a set of rules and principles intended to guide conduct in society, primarily by protecting persons and their property, facilitating personal and commercial interactions, and providing mechanisms for dispute resolution. Facilitating interactions: the law of contract, for example, provides a way for parties to enter into binding agreements, thereby creating a measure of security and certainty in their business operations. Contract law allows business enterprises to plan for the future and to enforce their expectations. Contract law: rules that make agreements binding and, therefore, facilitate planning and the enforcement of expectations: the law functions to prevent disputes and to facilitate relationships, law"s more significant role is facilitative. Paul dimovski: the creation of certainty in business relationships of one of the most important contributions that law can make to the commercial arena, litigation: the process involved when one person sues another.
