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Law in the Business World

Essay by   •  December 3, 2012  •  Term Paper  •  718 Words (3 Pages)  •  1,298 Views

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Law in the business world can be defined as protection for the consumer and the business. Laws are set by the government to make society better and business transactions easier. Laws protect the business world so we all can feel comfortable in our environment and have a fair and equal balance while doing transactions within our business. Laws control our social standards, ethical standards, and honesty all around.

The constitution contains law set up by our forefathers to keep the business man equal and honest creating less chance of monarchy. The constitution has set laws controlling trading and on the imports and exports of our country keeping transactions with in the spectrum of fair and honest. The constitution explains that the state law and federal laws can differ within specific guidelines. "This is known as the Supremacy Clause and it invalidates any state law that is in direct conflict with federal law. The power granted by the supremacy clause to override a state law is called preemption. In order for preemption to occur, the federal law must be directly in conflict with the state law to the point where the two laws cannot coexist. (Melvin, S. P. 2011 Pg. 32). "Congress has the power to regulate the activity so long as it has a substantial economic effect on interstate commerce." (Melvin, S. P. 2011 Pg. 32). This is apparent in the case "Cipollone v. Liggett Group, Inc., et al., 505 U.S. 504 (1992)" Liggett was sued under state law and tried to prove that they were in the right under federal law. Liggett was safe as the Supreme Court ruled that they were covered by federal law even though the state laws were not met.

Our president protects and governs the laws of the land such as treaties, executive orders and ordinances. Treaties are made to solve issues between countries; countries create ordinance laws to keep issues from arising and the president passes executive law to keep all countries in check and to try to prevent war.

When running a business it is smart to pay attention to the part of government law that may affect your business. There are several powers that Business owners need to be aware of. (1) the power to regulate commerce( Commerce Clause ); (2) taxing the citizenry and commercial entities and spending government funds (tax and spend provisions); (3) bankruptcy, patents, and copyrights; and (4) a more general implied authority to make all laws necessary for carrying out its enumerated powers ( Necessary and Proper Clause )." (Melvin, S. P. 2011 Pg. 29) Litigation may be subjective to these categories: "Government actions that are in this category are subject to the least amount of scrutiny. In order for the court to uphold the action, the government need only show that their action advanced a legitimate government objective (such as public welfare, health, or safety) and the action was minimally related to the government's objective. Government actions that

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