[PDF] Business Law Assignment

Business Law

Table of Contents
INTRODUCTION...........................................................................................................................1
SECTION 1......................................................................................................................................1
Task 1.....................................................................................................................................1
Task 2 ....................................................................................................................................5
SECTION 2......................................................................................................................................9
Case 1.....................................................................................................................................9
Case 2.....................................................................................................................................9
CONCLUSION .............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Business law comprises number of legislations and rules which are applicable on
business affairs. Management of organization should be done by complying with required laws
otherwise there may arise legal consequences. It also known as mercantile or commercial law
which is divided into two categories such as regulations of commercial entities and regulation of
commercial transactions (Clarkson, Miller and Cross, 2014). This report exhibits explanation of
parliament is sovereign, sources of UK laws, role of government in law making, implementation
and usage of common and statutory laws in justice courts. Furthermore, impact of company,
employment and contract law upon a business and different types of business followed by
difference between unincorporated and incorporated business are also included. In addition to
this, disputes resolution methods are discussed according to different cases.
SECTION 1
Task 1
a). Discuss the meaning of the statement “Parliament is sovereign” and various sources of laws
Parliament is sovereign holds a great meaning which is important in UK legal system.
This statement signifies that ultimate authority to pass or reject a law is with Parliament. The
government of UK review the legal system on a continuous basis in order to decided whether to
implement, amend or repeal any law. At the Queen's Speech, members from House of Lords and
House of Commons present bills in front of the Queen which is required to be passed by
following a set procedure. Legislations are a part of constitution which is why Parliament holds
the supreme power to enact laws (Parliament is sovereign, 2019). These can not be challenged
by any high court or other courts also, by any individual. A bill has to go through number of
stages till the Queen's assent is received. Process is as follows:
First stage- This is the beginning of the process in which a bill put before the houses in
the Parliament.
Second stage- The bill put up for voting after having a discussion. Amendments are
possible here.
Committee stage- After all the changes are incorporated, it is examined by an
independent committee.
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Report stage: Recommendation of committee is contained in a report form which is sent
to House of Lords within two weeks from last stage.
Third stage- In this stage, a bill is drafted which is to be implemented as a law.
Amendment is possible only when both the house have agreed to it.
Queen's assent- The queen's assent converts a bill into an act which is made applicable
through UK (Bill passing procedure, 2019).
Every citizen has to abide by laws and rules which are imposed by the Parliament. Apart
from this, there are sources from which knowledge of laws which are applicable can be known.
These are as follows:
 Primary sources: Legal information when kept in their original form are called primary
sources. Some of these are mentioned below:
Case law: Judgement of a case is recorded in a report which can be used in a new case.
Courts in UK follow doctrine of judicial precedents for case with similar facts and issues. There
is no creation of new law.
Legislation: Laws enacted by Parliament are compulsory for every individual to follow
them without any contravention. These cannot be challenged by any person or court. It can be
amended from time to time which should be known to every individual.
EU directives: The laws enacted by EU is required to abide by in order to have trade
without any hindrance. Till there comes a final answer for BREXIT referendum, this can be used
as a source.
 Secondary sources: Information extracted from primary sources when further
restructured in a new form or interpreted are included in this category. These are as
provided:
Legal encyclopaedias: There are many legal encyclopaedias which can be accessed for
knowing the meaning of legal terms. However, Halsbury's legal book is considered to be the best
comprehensive book which is used widely (Sources of UK law, 2019).
Parliamentary and non-parliamentary publications: These are discussion of both the
houses which are available in the form of debate and speeches and reports from government's
department which is uploaded on their sites.
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