STEN 3970 Study Guide - Midterm Guide: Contingent Fee, Subrogation, Estoppel
18 Apr 2018
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The role of law + 3 reasons we need law. Law sets the basic standards of behaviour that are enforced by governments and also by individuals and groups with the help of governments. The legal systems helps avoid and resolve disputes. 1) law is needed to protect persons, property and society as a whole. 2) law gives government power to act for the benefit of society as a whole (taxes, police, fire) Rule of law: established legal principals that treats all persons equally and that government obeys itself. Public law: law that regulates the conduct of government and the relations between government and private persons. 3) law regulates individuals interaction with each other. Allows us to plan and organize our affairs and we can bargain with others for mutual advantages. The law provides certainty in determining contractual and property rights. Private law: law that regulates the relations between private persons/groups of private people.
