- Maintaining peace, prosperity and security in the society. Like it prohibit the killing of a person and theft etc.
- Provide facilities to the people to make their own arrangement like it provide
a. Freedom of contract
b. Right to register the company
c. Right to make a will
d. Enjoy your land
- Provide standard to settle dispute. Like Formal Court, Arbitration and other alternative dispute settlement mechanism. In the absence of this people will seek to get justice as per their expediency.
Nature of law
From the above discussion we can extract some nature of law and it is also helpful to understand law.
- Generally law is made by the state.
- It regulate the human behavior
- Law always aims to maintain peace and security in the society.
- Law penalize the offender
- The law is dynamic and changeable
- Law varies time to time and place to place
- Law treats all people alike that is to say no one is above the law it is equally applicable to farmer and president.
- “Ingorantia Juris Non Excusat” ( Ignorance of Law is no Excuse)
Although it is not possible for laymen to learn every branch of law, they can’t get excuse of ignorance of law. Person must acquaint himself with the general principle of the law of the country. Example Carrying arms openly in the street and catch up by police for violation of peace, you are not excuse though you don’t know you can’t carry weapon openly.
- All the activities that we perform demand legal information for correct action.
The law is generally everywhere and all are abide by it, so for correct action the information of knowledge of law is important. Example while crossing the road you should use Zebra cross, you couldn’t drive without license etc.
- To know about the facility given by the law
The law also has given number of facility to the people like tax exemption, discount, rights etc. To get or enjoy that kind of facility we should aware about the law as well.
On the basis of nature, function and objective of the law it could be classify into various kinds. But as a student of Business, the five kinds of law are important to study. They are
- Substantive law
- Procedural law
- Civil law
- Criminal law
- Business law
Substantive law
Substantive law refers to those sorts of laws that create and define the right and obligation of the person of the institution. Like the interim constitution of Nepal 2063 has given the right to religion, environment, property etc. Generally substantive law concerned with the end of the law.
Procedural law
If the rights given by the substantive law is taken away or infringe, the branch of law show the path to restore or get back that right. Those laws are called the procedural law. It doesn’t only enforce or restore the violated rights, also compel the person to perform the obligation. E.g. under the Company Act of Nepal 2063 you have a right to register the company. But if authority doesn’t register the company then you can proceed to the court and the procedure you have to follow is lay down by the law, and that is called the procedural law. Like filing petition within limitation
Civil law
Those laws, of which, the violation amount the punishment in the form of compensation or fine is called the civil law. Generally it deals about the relation of individual with individual. Like contract law, law of property and law on partition etc.
Criminal law
If the purpose of law is to protect the society as a whole rather than its member that law is called the criminal law. It includes that kind of law, of which violation amount the punishment in the form of Jail. The criminal law focuses on wrong against the whole society. It is directly related with the peace and security of the society. E.g. prohibiting the killing of person without lawful excuse as per the Muluki Ain 2020 Jyan Sambandhi ko mahal.
Business law
The laws that regulate the behavior of the mercantile person are called the business law.
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