Abstract: The subject of this research is the concept and functions of law. The goal of this work lies in determining the levels of interaction between time and law. The author examines the two levels of such interaction – external and internal. The first establishes the nature, concept, properties and functions of law, as well as its evolution in time (traced on the example of performance of the normative legal act). The second reveals the temporal tools used in law for regulating legal relations (for example, timeframes and terms). Special attention is given to the first of the aforementioned levels of interaction between time and law. As the main research method, the author applies the dialectical method of cognition. The author is first to attempt of interdependent examination of time and law for determining the concept of law and its functions. Framework is established for further research with consideration of the determined two level of interaction – external and internal, as well as the detailed examination of such categories as legal time, stability, inconsistency, continuity, dynamism, etc.

Abstract: The subject of this research is the concept and functions of law. The goal of this work lies in determining the levels of interaction between time and law. The author examines the two levels of such interaction – external and internal. The first establishes the nature, concept, properties and functions of law, as well as its evolution in time (traced on the example of performance of the normative legal act). The second reveals the temporal tools used in law for regulating legal relations (for example, timeframes and terms). Special attention is given to the first of the aforementioned levels of interaction between time and law. As the main research method, the author applies the dialectical method of cognition. The author is first to attempt of interdependent examination of time and law for determining the concept of law and its functions. Framework is established for further research with consideration of the determined two level of interaction – external and internal, as well as the detailed examination of such categories as legal time, stability, inconsistency, continuity, dynamism, etc.