Law is a term that encompasses a broad set of social and governmental rules that govern human interactions. The precise definition of law is a matter of longstanding debate, with many different theories on its nature and meaning. Law can be created by legislative bodies through statutes, decrees and regulations; by the executive branch, through the creation of judicial precedent; or by private individuals through contractual arrangements or agreements. Law permeates all aspects of society, influencing politics, economics, history and culture in various ways.
The main function of law is to establish standards, maintain order, resolving disputes and protecting liberties and rights. The law is used to regulate human behavior and ensure that people live together peacefully, for example by setting the minimum wage or preventing murder. It is also used to regulate commerce and to protect the environment.
There are many different fields of law, ranging from employment to property and family law. Each field has its own specific rules, and there are a variety of different methods of enforcing these rules. For example, labour law focuses on the tripartite industrial relationship between worker, employer and trade unions and involves laws such as the right to strike; contract law covers commercial exchanges between entities with certain requirements, and property law includes ownership condition and rights. There is also criminal law and civil procedure, which refers to the process of a trial and appeals.
In addition, some of the rules that make up law may reflect a moral stance. For example, the rule against insider trading reflects the idea of fairness, and the principle of due process demonstrates a moral position against cruelty.