ACTG 2P40 Chapter Notes -Certification Mark, Liquidated Damages, Limited Liability Partnership
Document Summary
Chapter 1 introduction to law (2 contrasting theories of law) 1st stream of natural law is based on religious belief", when a religion sets moral and ethical values, it also makes rules of conduct- religious leaders! Scottish thinker david hume made significant contribution, hume identified different between physical laws and normative laws. Physical laws (law of gravity, law of physics) can not be broken and exist out of. Normative laws , not physical , law made up by government to create standards of behavior and regulating human conduct. The law is needed to prevent anarchy, to control human conduct to protect society , enforces punishment for deterrence: the authority of the government to act for benefit of. It authorizes government to act for society for benefits such as , providing policing, health care, fire fighters and education but government still follows.
