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M1_A2_Impotance of the Legal System

To what extent can our legal system ensure order and stability in society and particularly,
in the world?
It is important to understand the legal environment of business. This environment includes but is
not limited to legal reasoning, critical thinking skills, and ethical norms. Which are followed by
the legal and administrative law process, public and private law, and relevant international law.
We know that there are three sources of law in our country, the legislative (statutory), judicial
(case law), and executive (executive orders). But there is another indirect source of law and it
includes legal, financial, economic, and ethics which have an impact on business. Without our
legal system the stability of our society would be very uncontrollable which would cause
businesses to fail in providing a safe work environment for their employees.
Give a recent example from your research concerning any alleged failure of the legal
system that led to instability in business and society.
Back in 2013 there was an event that caused a very big problem for the government of the United
States. Andrew Cohen wrote about How the Sequester Threatens the US Legal System.
Cohen explains how the alarming impact of the funding "sequester" on the nation's federal court
system. Citizens everywhere will see vital legal rights denied or delayed by the forced budget
cuts.(2013, Cohen). The cuts imposed by the sequestering had a negative impact on Federal
employees, and government programs, as well as law enforcement and litigation programs run in
the Federal government. Beyond a reasonable doubt, the sequester is having a profound and
pernicious effect on the government's ability to observe its constitutional commands -- and to
provide justice to its citizens (2013, Cohen).

How would you explain the importance of stability and predictability in our legal system
in the control of the recent problems in the financial services industry, (sub-prime
mortgages, Bernie Madoff).
Without stability and predictability in our legal system many people will have a difficult time
managing their affairs. Especially those who are stuck in an underwater mortgage.
Peter Drier, wrote 98 million households still owe more on their mortgages than the market
value of their homes (2014, Drier). If there is no intervention soon for these household they
are at risk of joining about five million household that have already experienced foreclosure
since the housing bubble burst back in 2007.
The government needs to allow the holders of these underwater mortgages to lower the
principal on these mortgages, this will make it a little easier for the home owner to make their
payments in full and on time.

References
Cohen, Andrew (March 11,2013), The Atlantic, How the Sequester Threatens the US Legal
System. Retrieved from: www.theatlantic.com/national/archive/2013/03/how-thesequester-threatens-the-US-legal-system/273878
Dreier, P. (2014, May 09). What housing recovery? New York Times
Retrieved from: http://search.proquest.com/docview/1522643522?accountid=34899

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