Cengage Advantage Books: Business Law Today

Book Preface

Clarence Darrow’s assertion in the chapter-opening quotation is that laws should be created to serve the public. Because you are part of the public, the law is of interest to you. Those entering the world of business will fi nd themselves subject to numerous laws and government regulations. A basic knowledge of these laws and regulations is benefi cial—if not essential—to anyone contemplating a successful career in today’s business environment. Although law has various defi nitions, they all are based on the general observation that law consists of enforceable rules governing relationships among individuals and between individuals and their society. In some societies, these enforceable rules consist of unwritten principles of behavior, while in other societies they are set forth in ancient or contemporary law codes. In the United States, our rules consist of written laws and court decisions created by modern legislative and judicial bodies. Regardless of how such rules are created, they all have one feature in common: they establish rights, duties, and privileges that are consistent with the values and beliefs of a society or its ruling group. In the study of law, often referred to as jurisprudence, these broad statements provide a point of departure for all legal scholars and philosophers.