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The correct description of law is that it encompasses both rules for resolving conflicts and planning affairs. This broad definition captures the multifaceted nature of legal principles and their application in society.

Law serves as a framework for resolving disputes by establishing rights, responsibilities, and processes that govern interactions among individuals and organizations. By providing mechanisms for conflict resolution, the law ensures that there are systems in place for individuals to seek justice and remedy grievances, which is essential for maintaining social order.

Additionally, law also functions as a set of guidelines that aid in planning affairs. This includes regulatory frameworks that govern business practices, contracts, property rights, and many other areas critical for facilitating economic and social interactions. Such regulations help individuals and businesses plan their activities while understanding the legal boundaries and obligations that exist.

This comprehensive perspective on law allows for its application in both contentious situations and in everyday planning, ensuring that individuals and entities operate effectively within a structured legal environment.