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Law and change: Scottish legal heroes
Law and change: Scottish legal heroes

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2.2.2. Economic order

In developed societies, law provides the regulatory framework that enables the functioning of the economy. Law sets out the principles on which businesses are created and operate. It recognises legally enforceable agreements in the form of contracts, and creates and applies specialist rules of trading for different industrial sectors. Employment laws regulate the supply of labour, and health and safety regulations provide protection from exploitation.