What do the principles of public policy govern?

The principles of public policy are primarily concerned with the legal framework that governs society. These principles reflect the collective interests, values, and norms that are deemed beneficial for the public and society as a whole. Public policy serves to regulate issues that affect the community, such as laws ensuring public safety, health, welfare, and morality.

This option emphasizes how particular laws and regulations emanate from the need to promote societal order and protect the public interest. Public policy can influence various areas, including contract law, administrative action, and civil rights, providing a guiding framework that seeks to balance individual freedoms with the common good.

In contrast, private business contracts, financial transactions, and social interactions, while they may be influenced by overarching public policy, are typically governed by specific legal rules and regulations that can differ significantly from the broader principles of public policy itself. Public policy plays a role in ensuring that such transactions or contracts do not go against the general welfare of society, but it is not the overarching framework that governs them directly.