CMA Foundation · Fundamentals of Business Laws and Business Communication · Primary and Subordinate Legislation
Which statement best describes law in the sense used in business law studies?
Law is a body of rules of conduct recognised and enforced by the State to regulate behaviour in society, with penalties or remedies for breach. Moral codes and private association rules lack this State backing, and law is not confined to the Constitution.
- AAny moral rule that members of society consider desirable
- BA body of rules recognised and enforced by the State to regulate conduct in societyCorrect
- COnly the rules written in the Constitution
- DRules framed by trade associations for their members
Explanation
Law is a set of rules of conduct that the State recognises and enforces through its authority, with sanctions for breach. Moral rules lack State enforcement. Association rules bind only members, and law extends beyond the Constitution to statutes, precedents and more.
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