Business Law Aspects - Assignment
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Added on 2020-11-12
Business Law Aspects - Assignment
Added on 2020-11-12
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Different sources of law........................................................................................................1P2. Role of government in law-making and application of statutory and common law injustice court.................................................................................................................................2TASK 2............................................................................................................................................5P3. Potential impact of company, employment and contract law on a business.........................5TASK 3............................................................................................................................................6P4. Different types of business organizations formed legally.....................................................6P5. Explanation as to management and funding of business organizations................................8TASK 4............................................................................................................................................9P6. Legal solution for resolving disputes along with recommendation......................................9CONCLUSION..............................................................................................................................10REFERENCES:.............................................................................................................................11.......................................................................................................................................................11
INTRODUCTIONBusiness law is the legislation that governs commercial transactions or dealings in trade.It has two distinctive areas: (a) regulation of commercial entities through company, partnership,agency and bankruptcy and (b) regulation of commercial dealings by laws of contract and relatedrules. In UK corporations are required to follow various Act, rules and code for smoothfunctioning of business (Cownie and et. al., 2013). These regulate sales and purchase of goodsand services within the national boundaries of UK. This report exhibits various aspects regardingbusiness law in UK such as sources of law and role of government, potential impact of company,employment, contract law, different types of business structure, their raising and management offunds and recommendation legal solutions for solving disputes. By the end of this file, one willunderstand entire mercantile law in UK. TASK 1P1. Different sources of lawEnglish legal system is based on the common law of England and Wales and is dividedinto criminal law and civil law. UK has judicial precedents which have been developed over theyears through decisions of judges. Every ACT that exist in UK has been made by theWestminster Parliament. There are various sources of law which are as follows: 1.Primary Sources: These are the first hand information that have not been used in thepast and are usually order, decisions or regulations given by a court, legislature, Presidentor state governor. Case Law: These are the decisions taken by judges in UK courts and are published in“law reports”. A case law contains reliable facts, issues and determination along with theprinciples on which case has been concluded (Collison and et. al., 2014). In EnglishLegal system, doctrine of judicial precedents has a great role and are of binding nature forfuture legal decisions. Legislation: UK Parliament has the supreme authority to pass a law and enact it as ACT.UK has a partially written constitution and for written part various Acts have been madeapplicable throughout the country. These are render superior to all other sources, hence,can not be on the validity in courts. 1
2.Secondary sources: These are the data and information that have been explained,interpreted and analysed before. Such sources include encyclopedias, law reviews etc.These are as follows: Legal Encyclopedias: Halsbury' Laws of England is the only authentic source that is usedin England and Wales and is arranged alphabetically (Llewellyn, 2016). It providesinclusive information about various laws applicable in UK. The information so containedhas been written by or in consultation with leading lawyers who have expert knowledgein the field. Parliamentary and Non-Parliamentary publications: Former is a set of command papers,debate of Parliament, House of Commons and house of Lords papers. Latter is report andconsultation papers that have been provided by government departments and agencies.These are important to know the history as to why an ACT has been enacted.Law commission: UK has constituted an independent body to monitor and review theimplementation of law and recommend the areas where new legislation or amendment isrequired. Committee consult with public at large and interested parties together withexperts before taking any decision. Law Journals: These are the source of extensive information which covers general aswell as specific area of law. Further, these include academic arguments and news lettersin order to update the knowledge of practitioners regarding laws. The legal issues aredescribed in detail. Textbooks: These are treated as one of best sources before proceeding for a research on alegal topic. The matters are written by various authors for students. Some examples oftextbooks on legal areas are, Chitty on Contracts, Smith & Hogan's Criminal Law etc. P2. Role of government in law-making and application of statutory and common law in justicecourtUK has a partially written constitution on which various ACT have been passed to givelegality for the actions of UK people (De Lacy, 2013). Every citizen in the country is bound tocomply with the provisions of laws that been made applicable by the government. The majorreason for such legislations is that government has a responsibility to run the economy. The livesof people are governed by the enactments made by government. Hence, it has a vital role in law-making in UK. Government assess the areas of a state in terms of taxation, health, welfare,2
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