Business and commercial law : Assignment

BUSINESS LAW

Table of Contents
INTRODUCTION...............................................................................................................1
Section 1............................................................................................................................2
TASK 1...............................................................................................................................2
1. Analysing the point ‘Parliament is sovereign’ and sources of UK laws.....................2
2. Role of government in law making process and what is the use of statutory and
common law in Justice court.........................................................................................3
3. Impact of Contract law, Employment law and Company law in business sector. ....3
TASK 2...............................................................................................................................4
1. Types and Formation of different business organisation..........................................4
2.Advantages and disadvantages of unincorporated and incorporated business with
its difference between in terms of starting process. .....................................................5
3. What are the advantages and disadvantages of company over partnership firm.....6
Section 2............................................................................................................................7
1. Solve disputes of different cases with appropriate case laws with legal solution.....7
CASE 1..........................................................................................................................7
CASE 2..........................................................................................................................9
CONCLUSION ................................................................................................................12
REFERENCES................................................................................................................13

INTRODUCTION
Business law can be explained as the part of law which helps to deal with
business and commerce and it is also considered as the branch of civil law through
which it can deal with private and public law (Business Law and Legal Definition. 2018).
It guides how to start, end, purchase and manage all types of business. It is also known
as commercial law or mercantile law. It includes tax law, intellectual property law,
negotiable instrument law, contract law, corporate law etc.. It is necessary as it helps to
solve the dispute and other various problem regarding business by way of monetary
compensation, by method of Alternate Dispute Resolution (ADR).
The main purpose of this law was to establish standards, maintain orders,
resolving disputes and even protecting the rights of every individual. For taking any
appropriate decisions regarding business at least every individual must have some
knowledge regarding mercantile law. The main scope of business law is in the field of
law relating to Contract Act, Sales of Goods Act, Companies Act, Partnership Act, etc.
Every law are derived from some particular sources and in the same way even
Business law is also derived from certain sources. The main sources are different
agreements, common law, constitutional law, administrative regulations and statutory
law. Business law rules are also legal obligations which is imposed on every individual
and this are enforced by the Sovereign(Sharfman, 2014). It enhance the ability to take
decisions without breaching any rules which are framed by government and if any one
doesn't follow the guidelines then they might be imposed with different penalties which
may even include imprisonment.
As per the requirements, this report will help to clear different doubts regarding
all laws which are formed in UK. Who have the supreme power to decide which law
should be implemented and which should not. Why in UK “Parliament is Sovereign” and
will try to find out the sources of UK law. There will be discussion regarding statutory
law and common law and how it is applied in Justice court and how various law will
influence any business entity.
In Second section, discussion will relate regarding types and formation of
business with pointing out the major pros and cons of incorporated and unincorporated
association. Different case laws are solved regarding dispute matters with examples of
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similar case laws which were already discussed in Companies House with providing
appropriate recommendation with the help of Alternate Dispute Resolution.
Section 1
TASK 1
1. Analysing the point ‘Parliament is sovereign’ and sources of UK laws.
‘Parliament is sovereign’ means every rights authorities are assigned to single
body where interference of any legal bodies are not allowed which even includes the
supreme court. Once law is declared from the the House of Lords means it is
enforceable and no one is entitled to point out that particular laws are
unconstitutional(Kaplan, Weisberg and Binder, 2014). In the month of October and
November, the speech of Queen at the state of opening parliament plays important role
because all government bodies declare there individual program after that speech.
Parliament have the power to overrule any law at any point of time.
UK laws are formed with consideration of four different countries which includes
England, Scotland, North Ireland and Wales. The different sources of UK law are
Common law, Legislation, European Union Law (EUL) & European Convention on
Human Rights (ECHR).
 Common Law: In UK, common law are prepared by judges on the basis of day
to day affairs either related to civil wrong or criminal wrong. Commons law are
those law which can be converted at anytime, according to required situation.
Judges have the power to consider the past decisions either it can be of UK or
any part of the world. Judges mainly introduce this only if legislation have not
defined any particular section for the judgement.
 Legislation: The process of making law with the help of different supreme
authorities representing parliament. For passing any legislation the approval of
UK parliament is compulsory which is located in London (McMillan, 2012). In
legislation, law are prepared only after the approval of House of Commons and
House of Lords where House of Common consists 650 members and House of
Lords consists 800 peers. It is one of the primary source of law.
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