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

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: