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Introduction to Law and Its Impact on Business

What is law? - > The law may be described as a collection of enforceable rules applicable to the behaviour of citizens and institutions of an organised community, such as a nation. -> Who enforces the law? the police enforce criminal law. Crown prosecutors - decide whether you have a case to be prosecuted. Individuals enforce the law - in private matters via court. Lawyers argue case => Judge therefore decides on the outcome to the breach of the law. -> Citizens and institutions. - Citizens of a nation - under the law persons or citizens include corporate organisations as individuals. (Corporate body is a person subject to the law.) - Crown is subject to the law - part of the NZ constitution. - Community, such as a nation - Jurisdiction (is this the legal space that your actions can work within. Definition: the official power to make legal decisions and judgements) NZ has jurisdiction over 2 pieces of land not in nz (an island and part of the antarctic.) Functions of law: Freedom - of; speech or expression, religion, association. Command - you must do something e.g pay your taxes Protect - law protects privacy or property Prohibit - Remedy - fix - court ordering that you do or don't carry out an action. Damages to fix etc. Sanctions -> fines more criminal law Good Law: The majority of society considers to be fair and just. We abide by the law because we think it's just and fair. Sufficiently clear - knowledge of what you can and cannot do. Enforced and capable of being enforced. Legitimacy. Effectiveness. E.g. - laws criminalising murder. - Laws regulating breach of contract. - Laws criminalising marijuana - does the majority abide by the law, is it enforced to police or judges do anything about citizens smoking weed. - Copyright law e.g YouTube, streaming videos Why is law important for business? Law is everywhere. Affects where a business decides to set up e.g. tax laws. Protection for the company e.g software companies with the law protecting their created software. Social environmental standards -> employment law. Prefer to low environmental standards? Legal infrastructure. Companies want to settle where there is certainty and stability of law. The law affects their rights, obligations. Their ability to enforce their rights, as well as certainty and stability. Classification of Law: -> Procedural (The procedures to do with the law.) v Substantive (how to approach the law.) -> International (International law and how it affects NZ, e.g the UN.) V Domestic -> Public law (Regarding the public interests.) V Private (Civil) law (In relation to people and civilians.) - Public law concerned w matters that affect the State as a community; e.g Criminal law, constitutional law. - Private law e.g. Contract law, torts, property law. -> Some areas of law do not fall into one category as the case contains aspects of both: e.g. Insolvency law, company law, family law. Criminal law V Civil law - Wrongs against society -