Law is a system of rules that governs human behavior, shapes politics, economics, history and society in many ways, and provides a framework for resolving conflicts between individuals or groups. These rules are enforced through mechanisms and sanctions imposed by the government. The four principal purposes of law are establishing standards, maintaining order, resolving disputes and protecting liberties and rights. Law has many branches, each addressing a different aspect of life. For example, contract law deals with agreements between people, criminal law governs the punishment of crimes, and property law explains what a person can and cannot possess — both tangible (i.e., land or buildings) and intangible (i.e., stock options or intellectual property) — and how disputes are resolved.
The term law can also refer to a body of laws in a given geographic area, such as a state or country. The word can even refer to a career in the legal field, as when Zola says she wants to become a lawyer. The term can also be used to describe the process of creating a law, or the study of law.
One way to understand law is to consider what distinguishes it from other systems of rule. The primary difference is enforcement and consequence. For example, if a person is caught stealing, they may be fined or put in jail, depending on the severity of the crime and the law. Laws can be created by either a sovereign, or by other entities such as corporations. They can be made in various forms, including statutes, regulations and court decisions. The last of these have the greatest legal weight because a decision of a court in a particular case can be used to decide other cases that might arise under similar circumstances. This principle is known as precedent or stare decisis.
Some critics argue that the prevailing interpretation of law is too narrow and fails to take into account the fact that some of these laws are meant to reflect moral positions. For example, a ban on insider trading is designed to protect investors from unfair advantage, which is a moral consideration. Similarly, laws that protect the rights of individuals against abuses by governments can be seen as having a moral basis.
There are several different interpretations of law, but the majority of these focus on the concept that there is a set of standards that must be followed in order to ensure a peaceful and productive society. The most important of these principles are enshrined in the Constitution and include:
