Business Law: Sources, Role of Government, Impact on Business, Types of Organizations, Dispute Resolution

Business Law

Table of Contents

INTRODUCTION
Commercial legislation is a vast field of law which regulates the business. It is often
known as the branch of the civil law which regulates the issues of private and public law. It
generally governs the corporate contracts, sale and manufacture of the goods and hire practices.
It is important to make such legislations which can regulate the working of the businesses so that
smooth running is ensured and corporations are protected from the legal consequences in case of
non compliance (Clarkson and Miller, 2020). Laws evolve over the centuries and adopts the
changes as and when needed so that it can work with new technologies and behaviour of the
society. This report shall cover different sources of law, overview of the company, employment
and contract law and role of government in law making . moreover it will cover forms of
business organisation, its management and funds and different forms of alternate dispute
resolution.
TASK 1
P1 Explain the different sources of law.
The UK is mainly divided into three jurisdictions which involves England and Wales,
Northern Ireland and Scotland. Each of the jurisdiction have its own laws and court system but
there are many laws which apply in whole UK or may apply in one, two or three jurisdictions
(Keizer and Wevers, 2019). The common sources of law in UK are discussed below-
Primary source
 Case laws- These are fundamental and primary source of law which includes the
decisions of the court. These are called the common law which are declared by the
judges. It has same validity and relevancy as the statutory law. It includes both
substantive and procedural rules which are derived from inherent jurisdiction of court. Legislations- The UK does not have the written Constitution rather it is wholly codified
and partly written. Parliament is the supreme law making authority in UK which enacts
laws which cannot be challenged in any court of law. Mainly, there are two types of
legislations, primary and delegated. The former are enacted by the Parliament and the
later is made by the authority of the Parliament.
Secondary source