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Business Law - Assignment Solution

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Added on  2020-10-22

Business Law - Assignment Solution

   Added on 2020-10-22

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Table of ContentsINTRODUCTION................................................................................................................................3TASK 1.................................................................................................................................................3P1 Sources of law that the organisation needs to comply with...................................................3P2 Application of Statutory and common law in courts.............................................................4Task 2....................................................................................................................................................5P3 Impact of Employment and Contract Law on Business.........................................................5Task 3....................................................................................................................................................6P4 Solutions for the range of business problems........................................................................6Task 4....................................................................................................................................................7P6 Solutions based on a country's legal system..........................................................................7REFERENCES.....................................................................................................................................92
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INTRODUCTIONLaw is a mirror to a civilized society. It leads people towards a better future and for that it isnecessary to obey such laws. It can be different in various territories and it is essential to understandthat laws which are being enforced, actually helps in betterment of the society? It is not alwaysnecessary that laws are for the advancement of the society sometimes it may lead to sufferings. So itis necessary to check upon such laws (Bagley, 2010) . After understanding the main purpose of law,implication of statutes can be made on formation of Business Future Ltd which is an associationwhose initiative is to provide assistance to new start ups at market place. Hence, this paper istargeting over the nature of English Legal System which includes the structure of business law andits impact on the establishing a start ups.TASK 1P1 Sources of law that the organisation needs to comply withFor establishing an organisation it is necessary to abide by the legal obligations of the state. Abusiness can be initiated in two sectors, private and public, and in this context we are dealing withthe private sector. A private sector is further divided into three types of business organisation;Sole Trader, it is an individual business i.e. only one person handles the assets and profits ofthe business, also he is liable for the lose that the business incurred (Pepper v Hart (1993, HL) .Partnerships, generally there are three types of partnerships, Unlimited, Limited and LimitedLiability Partnership. An Unlimited Partnerships, is such in which the liability of partners areunlimited, so if the company cannot pay the debts all are responsible for such debt also for theprofits and loses, as they are distributed according to the shares they hold in the firm. A LimitedPartnership is like a general partnerships except unlike general partnerships it has at least oneGeneral Partner and one Limited Partner (Bodie, Kane and Marcus, 2014) The partner have limitedliability in such of partnership. A Limited Liability Partnership is a recently created one, it isregistered partnership and owns the asset of business as juristic person. The LLP is fully liable forthe debts and liabilities and the partner loses their capital after the insolvency.Last one is, the Company, it is a legal body of association or group of people for conducting abusiness. A business may be incorporated as a registered company, it is created by a procedure asprescribed in statutes (Fisher v Bell (1961) .Since the organisation, CP, is sole trader as it is handled by two brothers, for its expansion itmay become incorporated company under the Companies Act 2006, so they have to abide by the3
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