Law: The Glue of Business

LawAgreement – that’s business in one word. Two or more parties agree to shared promises. Honored agreement is good business while agreement dishonored is bad business.

Previously, an agreement could be settled with a firm handshake. Folks understood the meaning of the act and society was designed to support it. These days, it’s seldom that way.

Now, people’s understanding of an agreement varies – greatly. Hence, laws have been adjusted to fit the times.

The legal system is a vital tool needed to put everyone on the same page and also, to make adequate arrangements for anyone who decides to get off the page. The law unifies understanding; it is the oil of agreements.

I’m aware that some countries have weak legal systems. It’s no wonder why it’s difficult to do business in such places because agreement gets fluid and results take time – and are sometimes hard to sustain.

Ideally, the law is designed to create order. And order breeds prosperity. However, as we grapple with reality, it helps to know what obtains and properly play our part in our business dealings.

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