Law is a set of rules created and enforced by social or governmental institutions to regulate behavior and to ensure justice. It is a complex field that intersects many other disciplines, including philosophy, economic analysis and sociology.
There are several main goals that law is intended to achieve:
Maintaining Order: Law lays down the minimum acceptable standards of behaviour in society (e.g., it is illegal to physically injure another person without justification). It also regulates human relations, e.g., a marriage must be approved by the law to be valid. It is responsible for settling disputes by punishing those who break the law and establishing a system of codes, guidelines and etiquettes for people to follow.
Legal Systems: Law provides a framework for regulating society in a number of different areas such as contracts, property and family. For example, the law defines the rights and duties of people with regards to tangible property, such as houses and cars, as well as intangible property, such as shares in companies. It is also responsible for regulating the activities of banks and the stock market, and setting tax rates.
In addition, the law protects people’s freedoms by prohibiting a range of unwelcome behaviour such as stealing and assault. The law also tries to prevent injustice by guaranteeing people a fair trial when they are accused of a crime. The law may also try to distribute or correct social benefits through distributive justice and redress the wrongs of individuals through corrective justice.