Write a brief note on Rule of Law.
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Rule of law is a legal maxim that suggests that no one is above the law and governmental decisions must be made only by applying known legal and moral principles. ... The Rule of Law is especially important as an influence on the economic development in developing and transitional countries.
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The principle that all people and institutions are subject to and accountable to law that is fairly applied and enforced; the principle of government by law.No country can maintain a rule of law society if its people do not respect the laws. Everyone must make a commitment to respect laws, legal authorities, legal signage and signals, and courts. ... The rule of law functions because most of us agree that it is important to follow laws every day.
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