The nature of the law in doing business

Even though we compile a number of scholarly opinions on the definition of what law is, we will not be able to come up with a definition that satisfies all parties. However, at least from a number of scholarly opinions, an understanding that is mutually complementary is taken. We do not talk about whether we are satisfied or not, but provide an understanding of the legal meaning.

For this reason, from these definitions, the author will provide a definition based on the conclusions of the experts’ definitions. The goal is that students can understand fundamentally about law in order to study the next course in business law.
“Law is a set of regulations that regulate the social life of the community, which is made by the competent authority, is coercive, contains orders and prohibitions which, if violated, will receive strict sanctions”.
Based on the above definition, it can be described:

1. The set of regulations governing the social life of the people means that the law is made in writing which consists of rules governing the interests of the community and the state.
2. Created by an authorized institution is that the law is made by an institution that is … Read More