To "flaunt the law" is to carry the law around with you, showing it off as you strut, saying "hey, check out my law...I know, it's a pretty sweet law. It cost me quite a lot. Do you have a law like this? You don't? I'm sorry. Did I mention I went to Cornell?"" Maybe making a copy of the law, and having it framed.
To "flout the law" is to show contempt (or very little respect) for it.
To "flounder" is to move clumsily.
To "founder a ship" is to sink it.