Paper

833 Words Aug 14th, 2013 4 Pages
Running Head: Business Law

Business Law

Jaya Daniel

6/10/13

LAW 421

Rules and regulations are important in society. They are needed to make sure things go in a calm and collective manner. Without rules and regulations, society could go into chaos. There are many types of rules and regulations. Each aspect of our lives has some time of rule or regulation. It ranges from written rules for daily conduct or unwritten rules for behavior. These rules are set to make sure one that one person’s behavior does not negatively affect another person. The law plays a very important role in the day to day operations of a business as well as a society. These laws can regulate how
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“Business managers and owners should also be aware of the impact of constitutional laws and protections of individuals and business entities across a broad spectrum of sectors (Fundamentals, pg 26)
Although the general functions of law appear to probe rather simple, the United States legal system is actually very complex. Laws are broken down into several different types. These include constitutions, statutes, common law, administrative regulations and decisions, treaties, ordinances, and executive orders. In the company I work for, which is an insurance company, we deal with rules and regulations on the daily basis. We provide insurance for many businesses and so when dealing with them, we have to make sure we are following the rules and regulations of their state as well as the federal government precisely. The result of breaking these rules can end with civil cases that can cost the company millions of dollars as well as that individual losing their job and facing monetary loss and jail time (depending on the violation they are convicted of). When a change occurs, the company is quick to inform their employees of such a change. It is important the employees make note of the change and adjust to that change. The results of how this person or persons are dealt with (who violates these rules and regulations). This is very true

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