Enterprises Law.docx - Enterprises Law Tuesday 3:46 PM...

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Enterprises Law Tuesday, July 20, 2021 3:46 PM Tutorial Questions: Module 1 - Australian Legal System and Academic Integrity Week 1, Tutorial 1: Introduction to Enterprise Law (21/7/2021) Chapter 1 - Legal Foundations What is law?
These rules are recognised as legal rules (or the law) because they govern or regulate all community behaviour and must be obeyed by everyone. The consequences for breaking them are enforced through the judicial system. Law as a regulatory tool The law as a regulatory tool not only prescribes what people cannot do, it also informs people of what they can do and what they must do. For example, you cannot commit a crime, but you can own a property, and must pay taxes. Law guarantees our freedoms, permitting free enterprise and providing a means to settle disputes peacefully. Could a business exist without a legal system? Businesses could not exist without a legal system. To operate effectively and efficiently, business needs law to Regulate business activities To facilitate business transactions To settle disputes that can arise between manufacturers, wholesalers, retailers and consumers of goods and services

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