Law is a system of rules which social institutions enforce to oversee behaviour. Law serves as a social mediator of people’s relations and utterly shapes society, politics, and economics. Property law, based on John Locke’s theory of property, defines the obligations and rights that regulate the transfer of real and personal property. Contract law regulates every agreement made, ranging from buying an apple to trading on the stock market. There are many more branches of law, ranging from constitutional to administrative, and trust to criminal.
The Greek philosopher Aristotle famously said of law: “The rule of law is better than the rule of any individual”. Two conflicting views on law were those espoused by Thomas Hobbes and John Locke. The latter believed law enlarged the freedom of those who lived under it: The end of law is not to abolish or restrain, but to preserve and enlarge freedom. For in all the states of created beings capable of law, where there is no law, there is no freedom.” Hobbes, on the other hand, believed that law was a repressive force which was necessary to curb freedom as without law, “the condition of man…is a condition of war of everyone against everyone.”
The Greek philosopher Aristotle famously said of law: “The rule of law is better than the rule of any individual”. Two conflicting views on law were those espoused by Thomas Hobbes and John Locke. The latter believed law enlarged the freedom of those who lived under it: The end of law is not to abolish or restrain, but to preserve and enlarge freedom. For in all the states of created beings capable of law, where there is no law, there is no freedom.” Hobbes, on the other hand, believed that law was a repressive force which was necessary to curb freedom as without law, “the condition of man…is a condition of war of everyone against everyone.”