“A significant development in the modern-day state is the notion of the ‘Rule of Law”. This generally means that no-one
is above the law. This emanates from the idea that the law is based on fundamental principles which can be discovered, but which cannot be created by an act of will. Two of the most important sources of law in many countries are legislation and case law. If ambiguity or vagueness exists
in either or both of these two important sources of law, then a state of general legal uncertainty prevails. The Rule of Law preserves and protects the rights and
property of individuals and corporations. It safeguards against arbitrary governance, dictatorship and mob rule and
is central to the stability of government, the preservation of human rights and the economic and social development of
society.”
