The Role of Law Essay
The Role of Law
Law is a system or collection of “principles and regulations established in a community by some authority and applicable to its people.” (Dictionary.com) In the past, people viewed law as an unchanging factor that was a part of the natural order of life. Today, most lawmakers view law as a flexible instrument that can be used to accomplish a chosen purpose. “One strength of this instrumentalist attitude is its willingness to adapt the law to further the social good. A weakness, however, is the legal instability and uncertainty those adaptations often produce.” (Mallor, 2007) A few of the most important functions and roles of laws are to peaceably settle disputes, check government power, …show more content…
The policy against restrictions on free competition is the basis for the antitrust statutes. “If the sole purpose of an agreement is to restrain competition, it violates public policy and is illegal.” (Mallor, 2007) There are some competition restrictions that serve legitimate business interests and are enforced, but are scrutinized very closely by the courts. The antitrust laws were led by “public demands for legislation to preserve competitive market structures and prevent the accumulation of great economic power in the hands of a few firms.” (Mallor, 2007) Large businesses were acquiring dominant positions within their industry by buying up small companies or forcing them out of business.
Consumer protection laws include product liability laws and federal regulations such as packaging