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To be recognized at law, the loss should involve damage to property, or psychological or bodily damage; pure financial loss is rarely recognized for the award of damages. Despite those primary features, however, there has never been a typically accepted or even systematic formulation of the rule of law . The concept that the law ought to contribute to useful ways of channeling and constraining the train of public power Law News could be interpreted in numerous ways; such differences are particularly apparent over time and throughout different polities. After World War II, issues concerning the power of companies and their haphazard rulemaking procedures led to the enactment of the Administrative Procedures Act in 1946. The APA governs the process by which federal agencies develop and concern regulations.