Business Law: English Legal System, Sources of Law, Contract Law

Business Law

Table of Contents
INTRODUCTION...........................................................................................................................3
PART ONE......................................................................................................................................3
English Legal System..................................................................................................................3
Classification of Laws.................................................................................................................4
PART TWO.....................................................................................................................................5
Sources of Law............................................................................................................................5
Process of Making Legislation....................................................................................................6
Meaning of Delegated Legislation and Examples.......................................................................6
PART THREE.................................................................................................................................7
Contract Law...............................................................................................................................7
Consideration and its Rules.........................................................................................................8
Postal Rule...................................................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
The legal system of a country is crucial to its overall governance. The government enacts a range
of laws to administer and regulate the country, as well as to ensure that all of the country's
operations are supervised. Different legislation handle various areas of a country. Commercial
enterprise regulation and business activity administration are two separate topics of business law.
It's also known as commercial law or business law. Contract law, corporate law, employment
law, and a variety of other laws are all included in business law (Wilson, 2021).
The major goal of this report is to have a deeper understanding of the United Kingdom's
legal system. It also seeks to identify distinct legal sources. Its goal is to figure out how the
legislative process affects the various types of organisations that have been established. It also
seeks to comprehend contract law and its implications for prospective business.
PART ONE
English Legal System
In the United Kingdom, there are separate legal systems for England, Wales, Scotland, and
Northern Ireland. The British constitution is not codified and is based on a number of different
sources. Some are statutory laws, which are stated in the constitution, while others are unwritten,
such as constitutional conventions such as ministerial code, and so on. The English legal system
is structured in such a way that the rulings of the higher courts bind the lower courts. The
Supreme Court, commonly known as the House of Lords, is the highest court in the legal
system's hierarchical. Until the Lord Chancellor issues a statement, the rulings of the higher
courts causes binding effect on the decisions of the lower courts. According to the statement,
higher court judgements can be overturned if it appears to be in the public interest. Although the
Supreme Court is the highest decision-making authority in the United Kingdom, the European
Court of Justice's judgements are binding on all courts in the country. Furthermore, there are
several courts, such as the European Court of Human Rights and other bodies, whose decisions
are influential but do not bind British court system (Hobsbawm, 2021)
According to the hierarchy, the Court of Appeal is below the Supreme Court. In addition,
the court is divided into two sections: civil and criminal. The rulings of both courts have binding
effect on the courts below them. Young v Bristol Aeroplane Co. Ltd [1944] states that there is an
exemption to the binding effect of civil division. In the Criminal Division, however, if the court