Law is the system of rules that a community recognizes as regulating its members’ actions. It may be enacted by a legislature, resulting in statutes; established by executive decree or regulation, as in many modern systems; or set through precedent by judges, as in the common law system of the United States. The precise definition of law has been the subject of long debate and study. For the most part, laws are intended to protect a person’s property and life. Often, a crime committed in violation of a law is punished by incarceration or fines. However, some legal scholars have criticized the use of coercive force as the primary tool of law.
The most important function of law is establishing standards for a society. For example, the law may define how much capital a bank must have and the minimum standards for investment practices. The law also serves to maintain order and a sense of stability and fairness by punishing those who violate social norms. In addition, the law provides a framework for resolving disputes and protecting liberty and rights.
Law is a wide field that encompasses numerous branches. Some examples include contract law, which lays out people’s rights and obligations in exchange for goods or services; property law, which establishes ownership of tangible items such as land, houses and cars; and family and criminal law, which regulates marriage, parenting and incarceration. The law also applies to the economy, in such areas as taxation and trade.
Traditionally, legal education was centered on studying treatises that examined older English case law. These studies were useful, but the format was not well suited to communicating quickly changing law to new attorneys. For this reason, the law review was developed in the nineteenth century to provide a more current and concise legal resource.
As a result, the legal industry continues to evolve rapidly. Technology and innovation have changed the way in which legal research is conducted, and online resources continue to expand and improve the quality of law students’ education.
For example, legal software now allows lawyers to search through thousands of statutes and cases in seconds. This kind of technological advancement has made law a more accessible and valuable field to study. Additionally, the internet has allowed people to interact with law from anywhere in the world and share knowledge about it. This has opened up more opportunities for people to become lawyers and make a difference in the lives of others. Regardless of the changes in technology and law, one thing that will always remain is the need for accurate information. Having reliable, comprehensive legal resources is critical for both practitioners and those who are curious about the law. This is why Oxford Reference is here to help. Our law collection includes trusted, authoritative resources covering all aspects of the law and legal profession. With more than 34,000 brief definitions and in-depth, specialist encyclopedic entries on every aspect of the law, Oxford Reference makes it easy to find the facts you need.
