BUS 206 The U.S. Legal System and Law
And what exactly is business law? Business law is a body of rules that governs how businesses
are created, run, dissolved, and interacted with. This might be trade, sales, merchandising, or
commerce. Additionally, both governmental and private enterprises are covered. The application
procedure that must be skipped in order to run the firm, taxes, or general liability insurance are
only a few examples of these requirements. Why do we need business law and what does it
serve? Beyond merely the first stages of firm establishment, business law is essential.
Additionally, business law promotes order among similar businesses or brands. It aids in
defending the liberties and rights of citizens, including company owners, employees, and
customers. Additionally, business law aids in establishing norms of to follow and aids in
resolving disagreements should they occur.
Let's take a step back and examine the American legal system and the parts of our government.
Legislative, executive, and judicial branches of our government are all equal. Congress, the
Senate, and the House of Representative make up the legislative branch, which is in charge of
enacting laws for our nation. The Executive branch is the next, and it has the authority to enact
and carry out the laws that the Legislative branch has established. The President and Vice
President are in charge of this branch and have the authority to issue executive decrees. The
Judicial Branch is the last one, and it's the Supreme Court's exclusive responsibility to implement
and interpret the laws that the legislature has approved. As you can see, all three branches
cooperate with one another and each has its own authority that can be checked by the others,
preventing any one branch from becoming overly dominant. We refer to this as checks and
balances.
The U.S. Constitution must be acknowledged as the foundation of our judicial system. The
