Law is a system of rules governing a society. It is the foundation of the state, and defines the limits of a nation’s power. Law shapes politics, economics, history and society in many ways and serves as a mediator of relations between people. Its precise definition is a matter of debate. A general distinction can be made between civil law jurisdictions, where a legislature codifies and consolidates their laws, and common law systems where judge-made precedent is accepted as binding law. Both can be influenced by religion. For example, Islamic Shari’a law is the primary legal system in Iran and Saudi Arabia. In modern societies, the law has also expanded to include military and bureaucratic powers that earlier writers such as Locke and Montesquieu would not have predicted.
In a society, the law aims to keep peace and maintain the status quo, protect minorities against majorities and provide for orderly social change. The extent to which these objectives are achieved is largely a function of the country’s political structure. Governments may be authoritarian, democratic or a combination of both. Those that do not serve the interests of their people are likely to fail to fulfil the fundamental functions of the law.
The most familiar areas of the law are criminal and civil. Criminal law deals with offences against the state and involves penalties such as imprisonment or fines. Civil law, on the other hand, focuses on disputes between individuals or organisations. These disputes can be the basis for lawsuits.
Some areas of the law are highly technical and specific. Air law, for example, concerns the regulations on aircraft. Property law relates to ownership of land and things attached to it, including mortgages, leases and easements. It encompasses both’real’ and ‘personal’ property, as well as intellectual property and company law. Financial regulation sets minimum standards on the amount of capital that banks must hold, as well as rules on best practice for investment. This is intended to insure against the risk of a financial crisis, such as the Wall Street Crash of 1929.
In addition to its practical uses, the law is a subject of scholarly inquiry in fields such as history, philosophy, economic analysis and sociology. It is also a source of fascination for many young people, who aspire to careers as lawyers or judges. The term law can be used to refer to the profession of advising people about the law, representing them in court or giving decisions and punishments. See also: legal profession; legal education; jurisprudence.