Business Law: Sources, Impact, Formation, and Dispute Resolution

Business Law

Contents
INTRODUCTION.......................................................................................................................................3
TASK 1.......................................................................................................................................................3
P1 Various sources of the laws................................................................................................................3
P2 Process of law making together with role of government and application of statutory and common
law in courts............................................................................................................................................4
TASK 2.......................................................................................................................................................5
P3 Potential impact of different laws on businesses................................................................................5
TASK 3.......................................................................................................................................................7
P4 How business organizations are legally formed..................................................................................7
P5 How business enterprises are managed and funded............................................................................8
TASK 4.......................................................................................................................................................9
P6 Recommend different dispute resolution for resolving disputes.........................................................9
CONCLUSION.........................................................................................................................................10
REFERENCES..........................................................................................................................................11

INTRODUCTION
The law is the combination of regulations and rules that mainly regulates citizen’s
behavior. Likewise, the business law is mainly enacted so that the functioning and working of
enterprises may be regulated in order to ensure smooth running. It is the broad field which
consist of many legislations such as contract, data protection, health and safety legislations,
employment law, companies act and many more. Every enterprise consist of various employees
that are considered as their valuable asset as they are behind the success and growth of
organization so it is important to subject them from to some rights so that they are protected from
exploitation (Zharylkapova and et. al., 2017). This report shall cover the English legal system,
business laws and its impact on it and different business organizations. Further it will add
management and access of funding for businesses and various alternate dispute resolutions.
TASK 1
P1 Various sources of the laws.
The English law can be referred to as those rules and regulations which are followed in
the civil and criminal disputes. The English legal system is generally administered by the justice
courts who apply the statutory and common law in order to resolve the dispute. There are various
sources of legislations that are discussed below-
Primary
These are regarded as the original law source and authoritative in nature as they are enacted
by the authority that has power to make the laws. Various primary sources are discussed below-
 Case laws- It is the primary and fundamental source of law which consists of the
judgments and decisions given by judges in cases. It is published in law reports and
comprises of facts, issues, legal principles, reason and decision. These cases and its
decisions are binding for future judgments and the subordinate courts are bound to follow
the judgment of Superior Court. It is also regarded as the common law.
 Legislation- It includes those laws which are made by authoritative and supreme
authority of law that is called Parliament. There is no written constitution in UK so the

principles of the Constitution are written in the laws which are made by parliament
(Sihabudin, 2019).
Secondary
These are regarded as best way to begin the research on the law as it comprises of various
law commentaries. Some of them are narrated below-
 Legal encyclopaedia- This comprises of the cases, issues and key points and is regarded
as the best way to start the law research.
 Law journals- It mainly covers the specific and general areas of law and comprises of the
case commentaries and articles so that legal issues are understood with clarity and in a
detailed manner.
 Textbook- These are written by the academicians so that the students can research on
different legal topics and also bring clarity in their law concept.
 Parliamentary non parliamentary publications- The former includes the debates,
command papers and other documents while the latter deals with reports brought from
different government agencies and departments (Addink, 2019).
P2 Process of law making together with role of government and application of statutory and
common law in courts.
The Parliament is the supreme authority who has the power to make the legislations. It is
such place where in each member meet so that the law making process can be began. For
enacting a law, a bill is proposed in the Parliament which is a new idea or the draft that
undergoes various steps through discussions and debates. The process of making of law is
narrated thereunder-
 First reading- This stage involves arrival of the bill and only the name is read in either
house.
 Second reading- It is a stage which includes discussions and the debates on the purpose
and key areas of the bill. There is no voting at this stage.