Business Law and Dispute Resolution

This assignment delves into the realm of business law, focusing on its impact on companies and their operations. It examines the role of government in law-making, discusses various sources of law, and highlights the importance of legal consultants like solicitors and barristers. The assignment further explores different dispute resolution methods such as arbitration, mediation, and negotiation, emphasizing their effectiveness in resolving conflicts fairly and efficiently.

BUSINESS LAW

Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
TASK 2............................................................................................................................................4
TASK 3............................................................................................................................................6
TASK 4............................................................................................................................................7
CONCLUSION................................................................................................................................7

INTRODUCTION
Business law stands for legal term which ensures that every company performance business
function ethically and try to comply with rules as imposed on them. It can encourage competition
through protecting rights and interest of people. Business law imposed duties and responsibilities
on directors and they are bound to fulfil in effective manner. In this report discussed criminal and
civil law (Gino and Ariely, 2012). Alternate Dispute Resolution is the legal system which is
introduced by legal authorities in order to resolve matter of parties through provide best possible
advice to them and try to meet their expectation as well. Solicitor and Barrister are considered as
legal consultant who are responsible to provide best possible advice to people (What Is Business
Law? - Definition & Overview. 2017).
TASK 1
English legal system
United Kingdom follow English legal system which is presented in systematic manner.
Every matter should be resolve either by criminal courts or civil courts (Weber, 2012). Matter
related to offence in entertain by criminal courts only and other dispute needs to be handle by
civil courts. On the other side, every person gets resolve their dispute in best and appropriate
way. Legal authorities have to follow systematic process in order to resolve conflict which arise
mong two or more parties.
Criminal and civil law
Criminal law stands for offensive activities which is done by person who is called as
criminal law in the eyes of law. This is the legal body which is related to crime. In consist
wrongful act like threating, physical harm to another person and so on. This process includes
punishment of parties who violate these laws (Deva and Bilchitz, 2013). Penalty should be
imposed on them as per the amount specified under provision of legal system. It includes both
body harm and monetary loss.
Civil law is another legal body which may entertain nay matter rather than criminal
dispute. In which remedies are available for people who considered as innocent (Ramsay, 2012).
Primary aim of this legal term is protect rights and interest of parties and maintain performance
in ethical manner. It includes monetary loss rather than physical damages. Furthermore, court
imposed penalty on guilty in order to recover damages caused to innocent party. As per the
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policies of law members are bound to fulfil rules, policies and procedure for the purpose of attain
target.
Sources of law
Laws can be frame by various sources. Information should be collect from each source of
law. There are different sources of law introduce for represent new policies and procedure as per
the requirement of country (Lee, 2012). Sources are like constitution, legislature, common or
case law, executive etc. Also these term are able to made amendments according to requirement
of firm.
Constitution
The constitution of United Kingdom is presented in unwritten form but consist various
rules and policies as related with performance of entire country. it can reduce rate of
discrimination which may arise among employees who are working in companies. Fundamental
rights and duties of citizen is mentioned under this. Through this it is clear that people having
freedom of expression, speech etc. Primary function of this legal term is to distribute powers
among legal authorities on the basis of their skills, specialisation and knowledge. Also ensures
that business organization may fulfil legal process at the time of establishment to windup of
company (Nard, 2014). Employers must ensure that members of firm use their collective efforts
for meet their objective.
Legislature
This source of law is different from one country to another. It may protect existing laws.
Parties are bound to file their case in courts and get best possible advice from them. Citizens of
United Kingdom are responsible target with in stipulated time period and comply with provision
of law.
Executives
In this concept presidents are covered under executives. They having power to take major
decision for the welfare of entire country. They can secure rights and duties of each person
which is helpful or them (Middleton, Lee and Stewart, 2017). Such person must be select with
the majority of votes of people and final decision of parliament. It should be done with final
decision of members of parliament.
Common and case law
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Case law is stands for legal concept which is used by judges at the resolve matter of
parties who lodge their complaints in court to get advice (Cane and Atiyah, 2013). Judges have
to look at previously discussed cases which is similar with current case. It is presented in legal
form. On the other side, common law is also used by judges at the time hearing dispute. Award
should be present on the basis of rules and policies of mentioned laws.
Treaties
This is considered as legal agreement as framed by two or more states in order to fulfil
their legal obligation and meet consideration. Every state is capable to come under contractual
relationship with each other (MacCormick and Weinberger, 2013). They may select person as
representative who can meet criteria of law. Such as age, work experience, skills, knowledge,
qualification etc. They sign written document with each and mentioned various terms and
conditions. Due to this it is clear that legal obligation of person is considered as consideration of
other. As they are responsible to meet target imposed on them.
Comparison
English legal system Rumanian legal system
English law is spread in diverse nations like
USA, Canada, Australia and New Zeeland.
The Legitimate Court of Romania acts as an
self-governing legal authority and is not part
of the ordinary court system. The military
court system is organized into three tribunals,
the Territorial Military Tribunal and the
Military Court of Appeal.
They are bound to comply with law and
based on written form.
This based on unwritten format.
This legal concept is based on United
Kingdom. In this legal authorities are bound
to follow systematic process of law.
It is based on Romanian. In this members are
not able to follow systematic legal system
It is also benefited by the developed
economy and is doing well in its field.
There are different IIT multinational
organisations present in Romania which
provides benefits to same nation.
Act of parliament
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Government of UK play significant role in making of law. Firstly, legal authorities frame
bill of draft with appropriate policies and send the same to parliament in order to receive loyal
consent. In case consent is not received within specified time period than it is deemed to be
rejected (Hattam, 2014). But if it is accepted than bill becomes law and implement in entire
country. Parliament can frame new policies as well in order to protect existing laws. As the crime
increases, burden of parliament for frame new laws is also increase accordingly.
Consumer and employment law
Consumer law govern relation among company and customers. Various remedies
provided to buyers for the purpose of secure their rights and interest. The Consumer Protection
Act 1986 is the legal which may consist several rights and liabilities of person who are act as
customers. Rights will be protecting consumers and liabilities need to be fulfil by them. Business
organization are responsible to enhance formal relationship with customers through meet their
level of expectation.
Employment law can maintain effective relationship among both employees and
employers. Employment Act 1946, consists several rules and defined that employers have to
provide best quality of working environment to employees in which easily perform function.
Also they are responsible to maintain health and safety at work place. In case employees got
injured during the course of employment than firm have to made payment to injured person
equal to damages caused to them or amount specified under law whichever in higher. Try to
resolve dispute among workers which may arise on workplace. As they are bound to comply
with roles and responsibilities as per legal term (Lin, Baruch and Shih, 2012).
TASK 2
There are different types business organizations are introducing in United Kingdom which
contribute in continuous growth and development of country. Legal process to start and windup
is different from one entity to another (Middleton, Lee and Stewart, 2017). Owners have to start
business with set of mind. They are responsible to fulfil legal procedure as imposed on them.
Sole trader- After the amendments in law, single person can start his own business
without interference of other persons. Government not interfere any business activity of this
entity. Person who individually establish firm is known as sole trader. But in order to set up
business he have to obtain approval from legal authorities. Initially, fill application form along
with non-refundable fee for get approval (Middleton, Lee and Stewart, 2017). If legal authority
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reverts them on application than reject application, then person is not able to start business.
Reasons for rejection of business can be not fill application form properly, fee not submitted
equal to mentioned under provision, person restrict to do such act and as per members of law
may think fit. Registration of such firm is optional for them. Sole trader has to run formal
transaction with the name of sole proprietorship only. Person require less amount and time for
start and windup of firm. Decision should be take individually without inference of any other
person.
Partnership firm- According to the rule of business law, partnership firm can be
established by two or more persons known as partners (Middleton, Lee and Stewart, 2017). All
these members collect their money together and use them to establish firm which is known as
partnership firm. They must have same goals and objectives. Registration of this firm is optional
for them. All partnership signs legal contract with each and sign document which is known as
partnership deed. In which they mentioned various terms and conditions. Also try to meet legal
obligation of them. Profit sharing ration shall be decided by partners mutually or can be set by
legal authorities as well. Such rate should be fixed on the investment amount which ever person
made to become partner initially (Middleton, Lee and Stewart, 2017). Partnership deed consists
further information such as number of members, their name and address, profit sharing ratio and
much more. All such information is required for them which are used in future time.
Registered business organization- On the basis of rule of business law companies are
needs to require huge amount of money and time. Owners must spend huge at initial stage. These
are of two types called as private and public companies. Members who establish firm have to
follow rules or regulation and imposed on them. Public firms are those in which 50% shares are
hold by government. Thus, legal authorities influence business activities. But in case of private
firm, legal authorities not influence any activity (Middleton, Lee and Stewart, 2017). Public
limited have to use at the end of public organizations and only limited must add at the end of
private firms.
Legal laws are having greater impact on a company performance because it helps in
controlling the fraudulent activities by imposing numerous of acts. Along with this, it aids in
overcoming distinct problems and managing things in suitable manner. Additionally,
implementation of acts is playing eminent role by managing things in appropriate way. For
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example; prevent the rights of employees and consumers with the help of consumer proetction
act and employees acts.
Legal steps for establish company
Fill application form- Initially, person who wants to establish company have to fill
application form with non-refundable fee. Which means in case application will reject but
amount will not refund to them (Gino and Ariely, 2012). After checking, legal authority either
reject or approve. In case authority neither accept nor reject than it is deemed to be rejected. But
if they receive approval then members are able to form company and conduct transaction with
the firm only (What Is Business Law? - Definition & Overview. 2017).
Minimum and maximum number of members- At-least 2 members requires to start private
firm and maximum should be maintaining 200. On the other side, 7 members minimum require
in order to start business and maximum infinitely. This is the basic rule of business law which is
needs to be maintained by companies
Selection of name of firm- Owners needs to be select name of firm which is not
previously registered by any other company.
Registration- Members needs to be obtain certificate of registration from parliament in
order to conduct transaction with the name of company only. Government have to satisfy with
the documents which is submitted by members to them. After satisfaction, authorities can
provide certificate of registration (Gino and Ariely, 2012).
Role of director
A Director has been considered as part of a collective body of Directors known as the
Board, which is responsible for control as well as direction of the affairs of the business
organization. They have to receive notice of meeting and responsible to attend meeting conduct
by company (Gino and Ariely, 2012).
TASK 3
Alternate Dispute Resolution is the legal term which is introduce by courts in order to
resolve dispute of parties. Mediators have to provide opportunities to parties for put their views
and ideas in effective manner (Gino and Ariely, 2012). This legal proceeding introduces by
courts when they are overburdened with number of cases. It can offer fair, fast and cheap justice
to people. These are of few types-
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Arbitration- This is the effective way to resolve dispute of parties who lodge their matter in
order to receive fair and fast justice (Gino and Ariely, 2012). It can be done outside the courts.
Person who conduct legal activities is known as arbitrator. He acts as mediator and firstly listen
views of each party. In which dispute must be summited with the mutual agreement among
parties. Final decision provided by arbitrator is known as arbitral award. It should be present in
written form and must sign by all.
Mediation- This is another dispute resolving process. In which person act as mediator who
is responsible to hear reasons of dispute and resolve matter accordingly. Parties have to be agree
on final decision given by them.
Negotiation- In this legal process, parties who lodge their complaints have to negotiate their
rights and interest. After complete negotiation matter can be resolve by mediator.
TASK 4
There are two main two main legal consultants mentioned under business law called as
solicitor and barristers. The primary aim of them is to resolve dispute of parties and provide best
possible advice to them.
Solicitor- He is the legal consultant which provide legal advice to parties. Various roles
and responsibilities are imposed on them as per the policies of law. The main duty of solicitor is
to provide best advice to clients. They are expert in law and become legal consultant after
receiving proper knowledge, degree and qualification. They do practice in law firm and continue
work here.
Barrister- Such person is considered as specialist in law and act as lawyers and
responsible to appear in courts (Gino and Ariely, 2012). Try to understand roles and
responsibilities imposed on them as per the provision of business law.
In fact, number of legal laws are implement for protecting employees from exploitative
activities. Along with this labour laws are aiming to facilitate employees with necessary benefits
which is required to overcome distinctive problems faced by workers. For example; legitimate
bodies are imposing laws against discrimination laws, unfair trading and so on. Their main
objective is to offer best facilities to their employees for promoting retention at workplace which
helps in controlling problems occurring at organization.
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CONCLUSION
From the above project, it is depicted that business govern entire activities of companies.
Directors are responsible to control their performance. In above report, discussed role of
government in law making process. Law introduce several sources of law which are helpful
made new amendments and try to protect existing laws.
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