Law is the set of rules that govern society and ensure a peaceful life for its members. If the rules are broken, punishments can be imposed. The precise definition of law is the subject of debate, and different systems have different rules. However, there are some common elements to most laws.
A legal system must be based on principles of equality, justice, and liberty. It must also allow for the free flow of information and commerce. It must be free of corruption, and it must be governed by an independent judiciary.
There are many kinds of laws, including criminal, civil, and administrative law. Civil law relates to disputes between individuals, while criminal law deals with offenses against the state or nation itself. Administrative law relates to the operations of government. For example, there are rules for bankruptcy, evidence, and court procedure.
A legal principle is stare decisis, which means that a court should follow the rulings of earlier cases with similar facts. This is how caselaw builds up, and it allows a judge to make a decision that will apply to future cases with the same facts. This is why it is so important for courts to review their decisions and decide if they are still correct in light of new information or changes in circumstances.