Tuesday, 28 August 2012

MEANING & NEED OF LAW


In Man’s association with people in different capacities, he is expected to observe a code of conduct or a set of rules. The objective of these rules is to make human association possible & conducive for the welfare of the state & its people.

LAW IS A GENERAL TERM:
To a Citizen : rules to obey
To a Lawyer: vocation
To a Legislator: rules which he has created
To a Judge: guiding principles to apply to decision.

Since it is not possible to give a single accurate definition, the term law is preceded by an adjective e.g. Civil Law, Criminal Law, and Mercantile Law. Law includes all the rules and principles which regulate our relation with other individuals and with the State.

State regulates the conduct of its people by a set of rules.
Such rules of conduct, if recognised by the State and enforced by it on people are termed as Law.

IS LAW STATIC?
Law is not static. As circumstances & conditions in a society change, laws are changed to fit the requirements of the society. As such, law prevailing in a society at any point of time must be in conformity with the general sentiments, customs & aspirations of its people.

OBJECT OF LAW
Object of law is order; result of order is that men are enabled to look ahead with some sort of security as to the future.

In the Indian Context it is to establish Socio - Economic Justice and remove existing imbalance in the socio- economic structure.

NEED FOR THE KNOWLEDGE OF LAW

IGNORENTIA JURIS NON EXCUSAT
(IGNORANCE OF LAW IS NOT AN EXCUSE)

A businessman should be aware of legal principles so as to help him in avoiding conflict with the persons with whom he comes into business contact.

SOURCES  OF LAW
(With respect to Mercantile Law)

THE ENGLISH MERCANTILE LAW
Customs, usage and tradition
Decisions of Judges in similar situations
Act of parliament
Laws prevailing among traders
Roman law…..

LAW ENACTED BY PARLIAMENT OR STATE LEGISLATURE
PRECEDENTS SET BY PREVIOUS JUDICIAL DECISIONS
CUSTOMS AND USAGE



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