Business Law Assignment: Sources of Law in Co
Added on 2020-06-06
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Business Law
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P 1 Different sources of law that organisations must comply with........................................1P2 Role of government in law making and different laws applied in the justice court..........2M1 Effectiveness of legal system...........................................................................................4TASK 2............................................................................................................................................4P3 Employment and contract law has potential impact on the businesses.............................4M2 Analyse and differentiate regulations, legislations and standards...................................6TASK 3............................................................................................................................................6P4 Legal solution for the business..........................................................................................6P5 Justification for use of appropriate legal solutions............................................................7M3 Positive and negative impacts of legal solutions.............................................................7TASK 4............................................................................................................................................7P6 Recommending legal solutions of different nation's legal system....................................7M4 Compare effectiveness of recommendations...................................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONBusiness law provides legal protection to organisation in order to carry out tasks in abetter way. Present report deals with significance of sources of laws in the company.Furthermore, role of government in law-making is also listed in this report. Various laws such asConsumer Rights Act, 2015 and labour laws, Employment Rights Act, 1996 are also presentedwith relevant business cases. Moreover, rights of employees are listed which needs to beprovided by employer. Furthermore, legal solution for business problems and justification of thesame is also discussed in the report. TASK 1P 1 Different sources of law that organisations must comply withLaws are implemented by government in order to have fair business practices and assuch, organisations has to follow the same so that tasks and activities may be accomplished inthe best possible manner. UK's government has implemented laws from time to time so that fairbusiness may be done in effective way. English legal system consists of various criminal andcivil laws which provides fair judgements quite effectually (Allen and Kraakman, 2016).Furthermore, these laws imparts justice to people or organisation when any discrepanciesoccurred between them. The English law is applied to England, Wales, Scotland and NorthernIreland. There are mainly four sources such as Legislation, Common Law, European Law andEuropean Convention on Human Rights. Moreover, with regard to company, statutory and common law is applied on theorganisation. Statutory law of UK is the written law implemented by the Parliament of thenation. The law is taken into account by originating decisions provided by various other courtsand as such, statutory law is formed. This applies to organisation so that no unfair business mayprevail in the country and customers may be provided with better quality goods in the bestpossible manner. Thus, statutory law provides legal protection to buyer of goods and as such,organisation must comply with the same. Hence, legal framework is governed to organisation bycomplying with statutory law quite effectually (Berg, 2017). On the other hand, common law is applied to citizens and organisation. The business islegally binded to abide by this type of law in order to carry out tasks and activities without facingany legal repercussions. The decisions are made by Senior Appellate courts and are legally1
binded on the company. The common law is applied on the business so that business may followthe rules and regulations in the best possible manner. Thus, law governs organisation to carryout daily tasks in effective manner by complying with rules and regulations of such law. On the other hand, Company Act 2006 is one of the main corporate law in UK whichregulates entire businesses to carry out activities as per the guidelines of Act. This is the mainsource of company law implemented in practice by the Act of Parliament of the nation. It hasnumber of sections which are almost 1300 and 16 schedules forming legal company law in thecountry (Blount and Nunley, 2015). The Act provides common law principles and also listsdown duties of directors. Furthermore, new provisions are listed from time to time for bothpublic and private organisations. The Act provides general provisions for formation and valid name of organisation,constitutional documents, matters related to issue of shares. Furthermore, auditors' liability tocheck for the accounts of the organisation for extracting fair financial statements to users offinancial information in effectual way. Hence, company law and other sources of law arerequired to be complied by organisation so that fair practices may be accomplished with muchease. European Union law also lists down rules such as financial standards etc. This help toprovide rules to company so that fair activities can be done. The workers should provide safetygloves and hand protection gloves should be provided for health and safety of workers.Legislation means process of enacting laws by UK government.P2 Role of government in law making and different laws applied in the justice courtThe government provides legal framework which is required to be followed by people. Inrelation to this, English legal system implements law in the Parliament by considering variousstages from its inception to the written law which is last stage where law is formed and is legallybinded on all. It can be said that after analysing bill from various decisions and approval fromcourts, then at last final approval is made by the highest court and as such, law is enacted. Thus,law has to be followed by the organisation and citizens (Mikami, 2016.). For assessing this,various stages of bill passed and how law is enacted is listed below-Bill- It is the primary stage, bill is formed and is presented to the particular court that handlescases in relation to bills. With regards to this, there are bills such as public bills, private and2
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