The Rule of LawThe concept of the rule of law is

The Rule of Law
The concept of the rule of law is the cornerstone of any
democratic society and government. It is the law which is used
to decide disputes.
The law is one of the means for controlling the conduct of
businesses. The basic role of law in business decisions is
apparent. It contains business in its decisions and its selection of
alternative courses of action. Certain conduct is illegal, and if
individuals or businesses didnt follow the rule of law and their
conduct were declared a crime, they would be subject to
sanctions, e.g., fines or imprisonment. The sanctions will
include liability for damages, if the conduct is tortuous
(involving a wrongful act) or a breach of law. Besides, the law
and legal sanctions may be used to prevent certain conduct or to
require that certain things be done. If business decisions are not
made within the law, sanctions will be imposed. The law is the
foundation for the regulation of all business conduct and
decisions.
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