Gulf Regional Legal Environment of Business Essay - 1

Gulf Regional Legal Environment of Business - Essay Example There lies the presence of Sharia courts especially in the Gulf Region along with the existence of civil courts which help to preserve the law and order of the region (WSG, 2012). The various purposes of law which is prevalent in the Gulf Region include promoting the aspect of social justice, serving as a moral guide for the citizens, assuring personal freedoms and most importantly preserving law and order. The concept of business law is described as the enforceable rules and guidelines of conduct which administer the activities of the buyers as well as the sellers in business market exchanges (The McGraw-Hill Companies, n.d.). In relation to the business law, it has been viewed that there lies the broad accessibility of arbitration procedures which are encouraged as a way of finding resolution for any sort of disputes relating with the aspect of business law especially in the Gulf Region (WSG, 2012). In this paper, the concept of law as well as its importance to the society along wi th its various sources will be taken into concern. Moreover, a complete analysis of the case study on the basis of the concept of Tort of Law will be portrayed in the discussion. Discussion Importance of Law to the Society The major importance of law to the society is that it provides the enforcement power to the state in order to administer the behavior of the individuals belonging to any particular society. The different laws act as a formal based system of social control which exercises their absolute power at the particular time when there lies the non-effectiveness of the informal forms of social control (Tischler, 2010). The other crucial significance of law to the society is that it keeps the society running. Moreover, in the absence of law, there lies immense probable chance of occurring chaos as well as conflicts between the various social groups of a community. The introduction as well as the application of the various laws facilitates to preserve the orderly form of the s ociety and also to keep the world safe by a large extent. The role of law has been viewed to be a system of rules as well as regulations which emphasize upon the directive of maintaining the interrelation between the people along with their conflicting interests. With the non-appearance of any sort of established laws in the community, people would be free to take various decisions on the basis of their own ideas which can ultimately raise social conflicts considerably (Raz, 2009). Sources of Law Generally, the various sources of law include formal as well as material sources. In this regard, the formal sources are viewed to be the sources from which the law attains its force as well as validity. Conversely, the material sources of law refer to the different procedures which give rise to the evolution of the materials that are viewed to be the significant components of law (Dixon, 2007). In this similar context, it has been viewed that the different law sources especially in the Gul f Region include the Islamic law, Constitutional law and Legislation. The other law sources in the Gulf Region comprise the establishment of Abu Dhabi Court Law, Sharjah Court Law and Social Security Law among others. The Sharia courts are viewed to be