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Business Law English Legal System Essay

   

Added on  2020-07-23

15 Pages4728 Words26 Views
Business Law

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3P1 Different sources of law and legislations that are required to be followed by organisation..3M1 Effectiveness of Legal system in context of current reform as well as development...........4P2 Role of government in lawmaking and how statutory and common law is applied in courts......................................................................................................................................................4TASK 2............................................................................................................................................6P3 Identifying the way contract, employment and company law has potential effect onbusiness ......................................................................................................................................6M2 Differentiating and examining the potential effect of standard, regulation and legislationon organisation............................................................................................................................7TASK 3 ...........................................................................................................................................8P4 Appropriate legal solution for range of problems faced by companies................................8P5 Justification related to above suggested solution ..................................................................9M 3 Positive as well as negative effect of legal solution on organisation.................................9P 6 Legal solution based on a different country’s legal system...............................................10M 4 Contrasting the effectiveness of these recommendations..................................................11CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................121

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INTRODUCTIONBusiness law is a combination of all the laws that provide guideline to operate thefunctions of the business, laws are based on certain norms and regulations and it is compulsoryfor the organizations to follow them in order to perform business activities effectively andefficiently. Administrative regulations are included in business laws along with federal and statelaws. This report is based on the various sources of laws, role on government in law making,effectiveness of the legal system and impact of contract law on organizations. This report alsolay emphasis on the legal solutions of the business problems. P1 Different sources of law and legislations that are required to be followed by organisationLaw is defined as a set of rules that is developed by government or legislation in order tocorrect the procedure. These set of regulations are to be followed by all the people in the country.Business law is defined as the set of rules that are to be followed by the individual who isestablishing new company, conducting business activities or facilitating commercial transactions.It assists business entity in developing the understanding about the way several legal principlescan be applied in business. Business law also help entrepreneur in identifying the various factorsthat might have effect on organisation. The several legislations are developed by government inorder to assist companies in resolving business related or commercial issues. Legislation is lawthat is formed by a legislature. Objective behind development of norm by legal authority is toensure fair trade practices in the country. Regulations and norms help in ensuring the faircompetition among firm operating in same industry. The legislation in UK is originated mainlyfrom five sources these are: common legislation, constitutional law, treaties and administrativelegislation. In addition to this, some norms in UK are influenced by the EU legislative system.The major as well as important source of legislation is Act of parliament.Legislation-This is the law which is developed by legislature. Legislation is considered to be themost significant source of law which is originated by the act of parliament. Supreme Court inUK is the primary or chief legislature in the parliament of UK which has the authority to passlegislation which is to be implemented in the country. Such types of legislations are applicableonly to that country in which it is passed.3

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