What is the role of the United States Constitution and the United States legal system in business regulation?
How does a Constitutional right affect a business and how does the legal system protecting that right?
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1. What is the role of the United States Constitution and the United States legal system in business regulation?
Since its inscription, the United States Constitution has been the foundation of laws and regulations regulating and governing businesses by the federal government. Right from its inscription, it gave the U.S. Congress the authority to regulate interstate commerce. Thus, the United States Constitution provides the basis for the business regulations used by the federal government, which are to provide minimal protections for businesses and its consumers. On the other hand, the legal system legislates the laws and regulation for regulating business and interprets (see examples below) the Constitution as they apply to the business regulations that are brought before the courts. (5)
In 1866 the Fourteenth Amendment secured citizens against the deprivation of property or equal protection of the law without due process. By the 1880s the fourteenth amendment was being interpreted by the Supreme Court to mean that property included the return on such intangible assets as stocks or bonds and that due process meant judicial review of the substance of law. This interpretation rendered the ...
This solution discusses the role of the United States Constitution and the United States legal system in business regulation. It then discusses how a Constitutional right affects a business and how the legal system protects that right. Supplemented with two articles on business regulation.