Business Law: Sources, Government Role, Statutory and Common Laws, Legal System, Impact on Business Organization

This report provides an overview of business law, including its sources, the role of government in developing laws, the application of statutory and common laws in the court of justice, the legal system in the UK, and the impact of company, employment, and contract law on business organizations.

Business Law

Contents
Introduction.................................................................................................................................................3
Activity 1.....................................................................................................................................................3
Activity 2.....................................................................................................................................................7
Conclusion...................................................................................................................................................7
References...................................................................................................................................................8

Introduction
Business law is the body of rules and regulation which governs the business and
Commerce as it is considered as the branch of civil law. It deals with the issues related to private
and public law. The United Kingdom regulates different corporate laws such as Companies Act
2006, Insolvency Act 1986, and other courts. Further, the corporate Law is also broken down one
in two fields which includes corporate governance in corporate finance (Contractor and et. al.,
2020). These laws are important because they are used to maintain the business and their trade
practices in order to save the rights of the company e workforce and other persons who are
connected with the organisation. This report is about a template which talks about the legal
system and the different sources of law. The role of government, with respect to development of
law and how statutory and common laws are a pride before the Court of Justice. The difference
between legislation, Regulation and Standards. It is also discussed how the business organisation
used to manage and funded with the relevant examples.
Activity 1
Critically determines the legal system and law with the relevant example.
Sources of law
Legal system as a structured mechanism which used to provide the different remedies in
order to resolve the disputes. It has three functions which includes adjudication, legislation and
execution. The Judiciary is empowered to hear the issue and resolve it according to the laws
which are made by the Legislature (Croce, Tenca and Ughetto, 2017). Legislative functions
include determining the rules and regulations which are required in order to get proper
functioning of the society. Executive helper function to execute the rules and regulations which
are made by the Legislature and ensure that other authorities are working according to the
prescribed laws. There are several sources of laws but major did them are divided into two
categories which are discussed below:
Primary sources: these are the laws which are made by the document evidence pictures
etc. and whose information are contained in the original form:

 Case laws: the decision was by the courts in any of the dispute are considered as a
decision which will be e applicable in sane facts issues (Desai and Kroll, 2017). Every
judge used to consider the basis of judgment which was passed in the earlier cases.
 Legislation: the constitution of the UK sparsely returns uncodified law. The rules and
regulations which have been passed from the written portion of a constitution called as in
legislation which was enacted by the UK Parliament or some other Supreme authority.
No one has a right to raise the question with respect to their applicability of such laws.
Secondary sources: the information which can be interrupted and coated by the researchers
Scholars authors they are treated as the secondary source of law (Gallego‐Alvarez and et. al.,
2020). Some of them are discussed below:
 Parliamentary Publications are considered to know about the background and the history
with respect to the particular law which was made by the authorities.
 Law journals: these are academic Publications which used to provide extensive
information with respect to any of the topics (Michalos, 2017). This might be specific or
general and the author keeps the legal provisions in very simple and intelligible form so
that the reader can understand it easily.
 Textbooks: the laws which are written in the bare acts and other places the interpretation
of why some of the authors and scholars are also included as the source of law. These are
used by the students or any person in order to research how to get knowledge about a
particular topic of law.
Role of government in developing laws in nation
The government is responsible in order to determine how the country is run and for that
they used to manage various things in day to day life. The government used to plan different
slabs with respect to the taxes and also determine how the public money should be used in an
effective manner so that the authority can deliver the best to their public. The government has
different powers which can be deadly granted in order to devault institutions in Scotland, Wales
and northern Ireland (Hidayat and Van Klinken, 2018). The government of the UK has a right to
represent the other Nations at the international platform. The government is working in order to
maintain the smooth functioning between every sector and Developers sound economic
infrastructure which is necessary for the nation. The city is also investing the huge amount of
money in order to develop their capitals such as energy, power, transportation system,

communication, education, health and many others (Kranich and Wald, 2018). The holidays also
give stress to the developers of other territory sectors such as Banking, Finance, Insurance etc.
The government is responsible to adopt different strategies in order to efficiently utilize their
natural and economic resources. The government in the state also plays a major role in order to
maintain the peace and safety measures within the territories with the help of an effective
administrative system. The state government is responsible to run defense, police and court of
law which will be helpful to them in order to maintain the peace and order.
Statutory and common laws are applied in the court of justice
Statutory law means the return law which used to be passed by the body of Legislature.
This law is developed with the help of a system of principles and rules of law which are put forth
by the statutes (Ratten and et. al., 2020). To amend these laws the legislature has to develop and
separate statutes for the same. It is the fundamental structure with respect to the legal system
which is bases on the statutes. It is generally are formed as written act of expressions which are
made by the will of the legislatures. The law encompasses all the rules and regulations in order to
regulate the society and consider the future cases.
Common laws are such laws which are developed from the judicial decisions. The
operational level of this law is procedural law. It is based on the recorded judicial presidents and
can be amended by the statutory law (Rivera, 2019). This law gives pre-eminence to the law as it
is consider as the unfair to treat the same facts with respect to the different manner in different
situations. The similar cases which are reported in the future and the court can give the same
judgment which is followed from the previous cases. It is also known as the case law in legal
system as the judges uses the prior cases in order to resolve the issues in the present case
scenario with the facts and issues.
These both laws play a major role in order to decide any of the cases before The
Honorable Court. The statutory law is the long which is returned and laid down by the legislative
body in order to govern the conduct of the citizens in the UK. The common law evolved from the
decision made by the Court (Teichmann, 2020). Many times it is also called a case law. Before
deciding any of the cases, every used to look after the statutory and common law so that they can
conclude the issue in an effective manner.

Legal system
The United Kingdom has three separate legal systems, one each for England and Wales,
Scotland and Northern Ireland. The nation has an unwritten constitution in that there is no single
document which sets out the rights of an individual situation and how the government should be
acted in order to develop their Nation. The constitutional conventions play an important role with
respect to non legal and unwritten sources of constitution as they do not require a proper
procedure for the development of any of the statutes (Williams, 2017). The Parliament comprises
two separate houses one the house of commons and the other is House of Lords. Both the houses
have their representative body, their members which used to be elected with the specified
qualifications and also they have their speakers. They have their chairman which has a duty to
impartially ruling upon the procedural points. They have a systematic procedure in order to
develop any of the new law's and also with their amendments.
Company, employment and contract law has an impact on the business organization
Every business enterprise use to follow all the rules and regulation and other guidelines in
order to attain their targets in an effective manner. The company has developed their
memorandum of associations and articles of association with respect to the contact law,
employment and company laws (Trad and Kalpić, 2017). As these laws must be followed by
every organization so that they can satisfy the needs and wants of their employees and other
individuals who are directly and indirectly are connected with the firm. Legislation, regulations
and standards are used by the organization as it helps them in following the rules and regulations
which are provided by the authority (Veltri, De Luca and Phan, 2020). This is used in order to
develop their firm legally and helps them to satisfy the desires of their employees.

Activity 2
Covered In PPT
Conclusion
From the above it can be concluded that business is an Enterprise which used to buy and
sell products and services in order to earn profitability from it. There are different sources of law
in the United Kingdom which used to govern the functions and operations of an organisation.
The government also plays an important role in order to develop the law so that they can
maintain society. In every Enterprise they are required to follow the norms and regulations of
company, employment and contract law as it helps them to deal with customers, employees and
other individuals. The report also talks about the different types of business organisation which
can be legally formed and the best organisation which must be adopted by an individual is the
public limited company because it has many pros and cons and easy to develop it. They provides
proper channels to manage their functions and raise their funds. It is important for the
organisation to get effective legal advice in respect to resolve their issues.

References
Books and Journal
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Croce, A., Tenca, F. and Ughetto, E., 2017. How business angel groups work: Rejection criteria
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Gallego‐Alvarez and et. al., 2020. An analysis of business ethics in the cultural contexts of
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Hidayat, S. and Van Klinken, G., 2018. Provincial business and politics. In State of
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Kranich, P. and Wald, A., 2018. Does model consistency in business model innovation matter? A
contingency‐based approach. Creativity and Innovation Management, 27(2), pp.209-220.
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Enhance Good Quality of Life (pp. 53-61). Springer, Cham.
Ratten and et. al., 2020. The journal of family business management: a bibliometric
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Rivera, H.C., 2019. National Action Plans on Business and Human Rights: Progress or
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Teichmann, F.M.J., 2020. Money laundering in the jewellery business. Journal of Money
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Trad, A. and Kalpić, D., 2017, June. A Neural Networks portable and Agnostic Implementation
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International Conference on Computational Intelligence and Virtual Environments for
Measurement Systems and Applications (CIVEMSA) (pp. 153-158). IEEE.
Veltri, S., De Luca, F. and Phan, H.T.P., 2020. Do investors value companies' mandatory
nonfinancial risk disclosure? An empirical analysis of the Italian context after the EU
Directive. Business Strategy and the Environment, 29(6), pp.2226-2237.
Williams, R.S., 2017. What's Next?[The end of Moore's law]. Computing in Science &
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