The Basics of Law
The law is a system of rules that govern behaviour within a society. It is often enforced by a state through penalties. It has many different functions, including keeping the peace, maintaining the status quo, preserving individual rights and freedoms, protecting minorities against majorities, promoting social justice, and providing for orderly and peaceful change. Different legal systems serve these purposes differently. For example, a nation ruled by an authoritarian government may keep the peace, maintain the status quo and protect individuals against majorities, but it might oppress minorities or prevent political opponents from speaking out.
Law can be based on written or unwritten constitutions, group legislative decisions and executive regulations, or established by judges through precedent. The latter is referred to as the “doctrine of stare decisis” in Latin, meaning to stand by decisions. In common law legal systems, judicial decisions are explicitly acknowledged as laws on equal footing with statutes adopted through the legislative process and with executive decrees and regulations.
Law encompasses a vast number of topics and covers every area of life. Some of the most important subjects are taxation; banking; labour law; criminal and civil procedure; property law; contract law; tort; and family law. Moreover, there is also immigration law; nationality law; intellectual property law (such as copyright) and trust law. In addition, private companies that manage services such as energy, water and telecommunications are bound by varying degrees of law.