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Do you think we can lead live our lives without laws and order? How would people behave in the case they where no boundaries or limitations exist? What if people are not bounded byto any laws or rules? Wouldn't it be a messed up situation if this happens? ThusSubsequently, it wouldn’t be wrong to say that it is necessary to for people to follow have the laws and rules that should be followed by people so in order forthat everything to be is organized and functions smoothly. There are Mmany laws are made throughout the world; each country has its own set of rules, principles and regulations according to country’s constitution and culture. which a person has to function. When In case people are violatinge these rules then a certain kind of punishment is must be given to the that person who violated the law. Even in a corporate legal entityfirm , you need to follow a certain set of procedures so as to run your business operations smoothlyefficiently. Starting from the Cyprus