Business Laws INTRODUCTION

Business laws

Table of Contents
Table of Contents
Table of Contents
INTRODUCTION...........................................................................................................................1
P.1 Sources of law........................................................................................................................1
P.2 Role of government in law making.......................................................................................2
P.3 Company, employment and contract law impact on business...............................................3
P.4 Different types of organization are legally formed................................................................4
P5 How organisations are funded................................................................................................6
P.6 Legal solutions to solve disputes...........................................................................................7
Conclusion ......................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Business law is a commercial law that make guidelines, rules and regulation. It is set of civil,
commercials and ethical law. So this law is made for manage of business in organization and
resolve disputes. It has purpose is protected to rights and authority of business (Beatty,
Samuelson and Abril, 2018). This report will be cover that sources of law, role of government in
law making, effect of legal system effect of contract and legal law on business, different types of
organization that legally formed, funded and managed.
P.1 Sources of law.
Many types of sources of laws are present in United Kingdom that some laws applicable in
whole country. Four types of sources of law like legislation, common law, European union law
and European convention on human right.
Legislation :- it is a law that is passed by legislature. Parliament mainly play role in laws and
legislation. London is an only country that pass legislation for four countries. UK parliament
contain two houses like house of common and house of lords. In house of common has 650
members in parliament and all are responsible for particular and specific demographic area. All
Electors give vote to MP to select for constitute. The house of lord has 800 members and 600 of
them are appointed through recommendation of prime minister.
Common law :- legal system of England and wales is common so senior appellate courts take
decision and make laws so it is followed by all business. That means senior judges has to take
decision according to previous judgment for same case. Before making decision judges has to
evaluate all previous cases as well as decision.
European union law :- United Kingdom is a part of European law and it has to follow all laws
of European law. So if UK want to change laws and legislation of their country and make new
amendments so it has to make decision according to European law. It is a source of laws for UK.
European convention on human right :- it is an international human rights that regulate and
apply between 47 states. Through this law ordinary human get basic right and freedom so it helps
in increase democracy in European countries. It is very best source of law in United kingdom
that make rules and regulation for rights of peoples (Davidson, Forsythe and Knowles, 2015).
Statutory law :- it is a source of law that is created by legislature for particular and specific
purpose. It is use by all types of agencies and business because it is made by government.
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P.2 Role of government in law making.
Government play vital role in making law in United kingdom and public bills are passed by
ministers of government. It also has right to change laws and other private bills are also pas by
them. Bills are make and regulate from house of common and house of lord and it includes all
information that is related to law so government make laws about taxation. Following is the
process:-
First reading :- it is a legislation part that firstly reading in both house of parliament that means
government of UK pass any laws and legislation and it reading in both houses in front of all
members.
Second reading :- second reading of bills of law are reading in common house of parliament in
front of all members and they hear. Then they making decision and give vote for bills.
Government bills are not reading in house of lord in second stage.
Committee stage :- bills are come for examination by members of committee stage after second
reading that is completed by common house. Standing committee evaluate bills and it is
evaluated and examine by 16 to 20 members of parliament. Chairmen give vote only at the event
of tie and new member of standing committee is appointed for every new bill. Bills are refereed
to committee of whole house when bills are very important and it passes very quickly. Financial
bills and armed forces bills are divided between committee and standing committee for
evaluation.
Report stage :- at this stage decision of committee has report to whole house in two weeks. It is
a lengthy process because it examines bills and report housing so all members has opportunity to
give any amendments for add in report.
Third stage :- draft of bills is reviewed at this stage and in common house of parliament third
reading is not conduct because this reading is done in house of lord and all process is repeated
that bills examine by both house and passed by them (Allen, Kraakman and Subramanian, 2016).
Royal stage :- it is a last stage and through this stage royal assent is get by queen of the bill and
it declared by both house. Then legislation is listed in parliament. Act of parliament give
authority to government ministers to produce legislation.
Statutory law and common law applied in courts:-
Statutory law means law made by government and legislature for purpose. This law can
create by all types of government like local, state and national. This law is always applicable in
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