According to HG.org, businesses laws are implemented to provide all organizations in the marketplace with fair conditions to succeed. The actions of businesses, their owners and their employees are regulated by laws meant to protect businesses from other entities that want to cheat them and vice versa.Know More
According to the National Business Education Association, all businesses must be created to exist under the laws of the place where they reside. For businesses operating between cities or internationally, they must comply with all laws that affect them in both regions. Because business law is vast and complex, a business needs to have lawyers to interpret and advise proper action to ensure compliance.
"The Legal and Ethical Environment of Business" explains that to aid businesses and their legal staff, governments create regulating bodies. Agencies such as the U.S. Securities and Exchange Commission exist to protect investors and consumers by holding businesses accountable for any dangerous or fraudulent practices.
HG.org explains that business law is meant to provide guidelines by which businesses are able to avoid litigation. It is beneficial to seek the counsel of lawyers who specialize in business law before a business forms because these lawyers are acquainted with the pitfalls the new business seeks to avoid. A good lawyer is able to structure contracts and exchanges such that the business remains compliant with law to minimize liabilities while remaining as profitable as possible.Learn more about Law
Funny laws in U.S. states include Kansas' mandatory pledge that senators have not ever participated in a duel with fatal weapons, and a law in Maine that regulates play during bathroom breaks during a form of bingo. In Massachusetts, it is illegal to perform only part of the national anthem.Full Answer >
According to the University of Louisiana at Lafayette, natural law refers to those laws that derive their legitimacy from moral reasoning and are based on what is believed to serve the best interests of the common good while positive laws are those that obtain their legitimacy through legislative means and are enforced by civil or political authority. Based on a strict interpretation of natural law, any legal statute that conflicts with natural law is unjust and should not be obeyed. According to positive legal theory, the legitimacy of a law is not relevant to its morality, but rather stems from the power of the authority that enacted it.Full Answer >
Federal law covers most cases of buyer's remorse in all 50 states, including solicited sales, timeshares and homeowner loans, while some states have laws to protect rueful consumers with certain contracts, such as gym memberships, and can extend the federal cooling-off period, according to the AARP. Buyer's remorse laws do not apply to automobile purchases.Full Answer >
As of 2015, federal health insurance laws prohibit discrimination based on pre-existing conditions and disallow annual coverage limits. They also ensure that consumers without workplace insurance have access to insurance, according to the U.S. Department of Health and Human Services, and they mandate U.S. citizens to carry health insurance.Full Answer >