What are laws? How are they different from ethics? In your ...

[nummyann]

What are laws? How are they different from ethics? In your opinion, why do we need laws and ethics to exist in society? Explain using suitable examples.

Question 2

Contractual capacity is the ability to:
 A) read and write.
 B) sign a written contract.
 C) understand that a contract is being made and to understand its general nature.
 D) understand the legal meaning of the contract being made.

[14vl19]

Answer to Question 1

Laws are governmental rules prescribing conduct and carrying a penalty for violation. Meanwhile, ethics are principles that determine the morality of conduct, its motives, and its duties. Our laws set a minimum standard for behavior. Ethics set a higher standard of behavior.
We live in a complex society. Every time we have business dealings with others-working, making a purchase, starting a business, traveling, renting an apartment, or trying to insure against loss-we have the potential for a dispute. The law seeks to establish rules so that we will be able to peacefully resolve those disputes that arise. The law also sets the rules of conduct for many transactions so that we will know how to avoid disputes. The law thus tries to establish a stable framework to keep society operating as smoothly as possible.

Students can give various examples to illustrate a situation where having a law helps in better functioning of the society.

Answer to Question 2

C