Law is a set of rules that are created and enforced by social or governmental institutions to regulate behavior. It has been variously described as a science and as the art of justice. Laws can be created or enforced by the state through legislation; by executive decrees and regulations; and by judicial precedent in common-law jurisdictions. Private individuals can also create legally binding contracts and arbitration agreements, which are alternatives to standard court litigation.
Some scholars believe that law is essentially coercive and has the power to force people to do things they would not otherwise do. Others argue that this understanding of the law underestimates the value of the law in society. For example, the law may help keep peace in a community and preserve the status quo, even if it sometimes oppresses minorities or other groups. The law can also help people plan their lives with confidence that they will be able to comply with the legal consequences of their actions.
A large number of laws exist in the world, covering a vast range of topics. For example, contract law governs all types of agreements to exchange goods or services; criminal law covers all felony and misdemeanor crimes; and property law defines people’s rights and duties toward their tangible property (like homes or cars), intangible property (like bank accounts or shares of stock), and other possessions.
The nature of law varies significantly from nation to nation. For example, a nation ruled by an authoritarian government can keep the peace and maintain the status quo, but it could also oppress minorities or other groups. A democratic or socialist country might have a more tolerant view of different viewpoints and might be better at encouraging social change.
Another important aspect of the law is how it relates to morality. For example, a law that prevents insider trading might be seen as reflecting a moral position against unfairness. In addition, a religious law might reflect the ethical principles of a certain religion.
The law is defined by the rules of a particular society or culture, and it can be modified by these societies or cultures over time. For example, the law of gravity may be described as a natural law because it is based on the physical properties of apples and the Earth. It can be amended by the scientific method, and it can be changed by the actions of a group of people.