Business Laws
Added on 2020-01-07
14 Pages4219 Words131 Views
Business law
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31...................................................................................................................................................32...................................................................................................................................................4TASK 2............................................................................................................................................63...................................................................................................................................................6TASK 3............................................................................................................................................84...................................................................................................................................................85...................................................................................................................................................8TASK 4............................................................................................................................................96...................................................................................................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12
INTRODUCTIONThe term law can be defined as the set of rules and regulation which are enforced bycertain governmental authority for the society. The main motive behind the implementation oflaws for the society is to safeguard and to protect the rights and the duties of an individual.Besides rights and duties of an there are certain laws which are implemented for safeguarding theactivity conducted by business organisation(Hoffman, 2014.). It is a very well known fact thathalf of the world is governed business activities that is why it is very important fro thegovernment of implement certain rules and regulation for the protection of the rights and dutiesof business organisation. One of the example of such laws is business law which will cover allthe aspects related top business. The main motive of this project is to showcase the importantaspect of business law. The aim of the project is to create a better understanding about differentprovisions of law.TASK 11A particular process to be followed by the different governmental bodies in order to makelaw into force. When a law has to be made by the government, they analysis the situation andcollect the information from various sources to frame an effective law. It is very important thatwhenever a law is implemented, then such establishment should benefit the person or theorganisation as well as such la shall protect the rights and duties of the particular. For extractingthe original law, there are many kind of resources such as:-Primary legislation- in simple words, primary legislation can be explained as all those statutesand acts which are implemented by the parliament(Einzig, 2014.). There are basically 3 branchesof parliamentary system that is the judiciary, executive and the legislation. The most powerfulbranch of the parliamentary system is considered legislation which shall possess the power tomake laws as it contain the maximum right to vote for any bill which will turn into act if it getpassed. The other two bodies shall be bind to follow those statutes and the acts which are passedby legislature(Pathak, 2013.). Secondary Legislation- it is also known as the subordinate or the delegated legislation. Whenthe legislation branch delegate the power to form an act to ministers for making a secondarylegislation. These includes directive principles, regulations and decision made by the
commissions or the council. Secondary legislation is also considered as open of the importantsource of law as because these are passed ministers who are delegated by the legislation.Prerogative legislation are those powers given to certain official to create laws, rules orregulation(Haapio,Siedel, 2013.).Judicial Precedence- case laws are considered as one of the source of law because, in manycases landmark judgements are passed as well as it has been seen that in certain case laws, manynew regulation get established so case laws which has been passed by the court of law are alsoconsidered as very important source of law. They also helps in deciding various kinds of casesfoo various conditions.EU Law-the law which has been implemented by the European Union is know as EU law. Itbasically consist of the primary and secondary legislation. As European union is the mix of manycountries, so it is a possibility that many treaties shall be signed between them and those treatiesare dependent upon various kinds of agreements which will again work as the source of law. Sources of law are really important for any country as they help in establishing the new lawwhich will safeguard sole traders from various kind of situations. Sources of law also give ideato legislation or the court of law that what necessary changes could be brought(Rosias, 2012.).2Government plays a very important role in making the law as it is the only body whichwill assist and analysis the situation and propose an ideas to the other governmental bodies sothat a particular law shall be made. When a new law has to be passed in the parliament, aproposal came to it by government(Kolker, 2012.). The aim for establishing a proposal in theparliamentary body is to shape and address the society for the particular problems they havebeen facing related to the rights and the duties of an individual. Generally when a proposal isintroduced in the parliament then, it take a period of time to create them. For making a law aparticular process is to be followed by the government that isfirst of all the government agenda regarding making a law is to find the problem which thesociety is facing. Without the assessment of the problem, no proposal can be made and no ideacan be frame. Then after the problem is being identified a particular solution is being taken outby the government and in regard to that idea several group of people are considered that whetherthe idea made by the government on a particular situation is right or not(Porwal, Hewage, 2013.).After taking opinion from a group of people, a proposal is to be made by the government and
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