Business Law: Legal System, Sources of Law, and Impact on Organizations

Business Law

Table of Contents
INTRODUCTION...........................................................................................................................3
PART 1............................................................................................................................................3
1)Explanation of the legal system, different sources of law, the role of government in law-
making and how statutory and common law is applied to businesses.........................................3
2)Critical reflection of the legal system using examples to demonstrate strengths and
weaknesses...................................................................................................................................5
3)Explanation of the key legislation, regulations and standards that a new business needs to be
aware............................................................................................................................................5
4)Impact of different law upon business organisation.................................................................5
5)Explanation about different legal structure in public and private sector with their advantage
and disadvantages........................................................................................................................6
6)How different organisations are managed and funded in both public and private sectors.......7
PART 2............................................................................................................................................8
1)Brief overview of Contract law, employment law, Company law, etc....................................8
2) Salient legal points of each case..............................................................................................8
3)Suggest an appropriate legal solution to each of the problems................................................9
4)Provide justification for the advice and solution given............................................................9
5)Compare & contrast the effectiveness of the given recommendations..................................10
6)Critically and evaluate the use of the appropriate legal solutions suggested in comparison
with alternative legal advice......................................................................................................10
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Law itself plays crucial part for any of the business entity. The law which governs
commercial activity is knowns as Business Law. Business law is defined as law & regulation
which tells about the activity which is to be considered while making any of the decision for
future goals. The assignment report is based on business law where detail knowledge regarding
various topics well be discussed which is can be crucial for conducting business activity in future
time period. Report is based on two different parts where first part will relate with laws and
regulation and types of entity and they are commenced. Similarly, second part will reflect about
three different case studies and how cases can be resolved without involving the procedure of
court.
PART 1
1)Explanation of the legal system, different sources of law, the role of government in law-
making and how statutory and common law is applied to businesses.
Any of the nation has to become strong from the side of legal system because if they fail
in this particular area then maintain economic level becomes very difficult task. Also, it creates
problem in maintaining peace and silence. But, at the same the UK government have set specific
standard in case of legal system where they follow specific patter and all of the order is finalised
by Crown person i.e., Queen. This process is being followed since the commencement of Royal
Assent Act 1961. The legal system of UK has managed its working style in that particular
manner where any of the law is checked in number of stages due to which chances of errors
reduces (Rutledge, 2014).
Law forming process is never easy and in that particular situation it is necessary for any
of the nation to find out those important sources which can allow them to commence law.
Similarly, UK legislative body have distributed its power to number of bodies which forms laws
within the premises of UK.
 Legislation: It need to be understood that legislation plays the necessary role where it
that particular body where role of parliament increases. In this process House of Common
and House of Lords have to pass bill through different stages which automatically
reduces the chances of error within legal system.

 Directives: After post world war, European nation forms the treaty where they allowed
European Union to form those laws and regulation which are effective for their nation
and even UK was the part of this treaty. Even this source of law was very much effective
for UK that it has commenced almost half of the law and even it is allowing them to
attain positive result.
 Case laws: Although, government and directives takes proper initiatives to commence
law and regulation but still it is not possible to cover all of the law and in this particular
situation it need to be understand that judges of higher level court have been authorised to
commence law as per requirement (Raz, 2017). This laws are also equally important that
even it allows to resolve the case in short time duration.
 Treaties: Government of UK is also the pat of International law where there are some of
the laws and regulation are being formed by them. The laws which are formed under
International law is needed to be followed and even it is result oriented as well.
It is necessary to understand that Legislative bodies gives power to parliament where they are
allowed to commence law for the nation and looking at the situation whenever they commence
any of the law, different stages are needed to be cleared so that law can be enforced. The detail
process of enforcing any of the law starts with draft present in front of First reading. The role of
first reading team is to give only title as per the points mentioned within the bill. Then after,
second reading has to take decision whether bill can be further discussed or not where opinion is
presented by the members. After all this, committee stage has to take responsibility where thy fix
those points which are problematic in nature where further report stage brings amendments and
passes the bill for third reading. In this particular stage, voting process is conducted which
simply explains or decided whether bill should be passed for commencing new law or not. If
member becomes agree then they further transfer it to House of Lords where conduct all of this
stage for cross verification (Bayern, 2016). Finally, bill is given to queen for obtaining Royal
Assent on it.
Statutory law and common law is important in context of business organisation where
entities must be able to followed their laws and order. Statutory law is formed at initial law by
hose of parliament which simply applies upon business entity and all of the organisation must
have to follow. But, common laws are formed by judges where they form any of the new law