Business Law: Sources, Government Role, Key Legislation, Legal Formats

This document provides an overview of business law, including the different sources of law, the role of government in law making, key legislation for new businesses, and different legal formats. It discusses the importance of following laws in business operations and the implications of various legal frameworks. The document also explores the different types of business organizations and how they are managed and funded. Overall, it provides a comprehensive understanding of business law and its relevance in the corporate world.

Business Law

Contents
INTRODUCTION...........................................................................................................................3
PART 1............................................................................................................................................3
1. Different sources of law.....................................................................................................3
2. Role of government in law making and how statutory and common law is applied in the
justice courts...........................................................................................................................4
3. Explanation of the key legislation, regulations and standards that a new business needs to
be aware of.............................................................................................................................5
4. Differentiate between legislation, regulations and standards to analyse potential impacts
upon business..........................................................................................................................6
5. Different legal formats.......................................................................................................7
6. Critical evaluation of how different organisations are managed and funded.....................9
PART 2..........................................................................................................................................10
Recommend legal solutions for resolving a range of disputes using examples...................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Business ethics or law is that legal division that controls the company's corporate operations.
This is important for the efficient and lawful operation of the business. In addition to the main
legislative legislation, there are statutes of varying relevance. This must be recognized that to
accomplish the objectives, laws ought to be followed in certain cases. In order for this topic to be
discussed, a number of issues should still be focusing on what legislation will be enacted as well
as what the lawyer should be doing within the legislation. The report provides the description
including its legal system, the history and role of the law, followed by the reference to the
judiciary in equity and statute law. In addition, the implications of various modes of legislation
and administrative solutions to corporate problems were often discussed in the different legal
frameworks of an organization and its management, together with how they are funded.
PART 1
1. Different sources of law
England's constitutional system is focused on a specific unwritten document for the printed
part of it, including legal laws. This is separated into criminal and civil sections and has their
own legal framework. Different countries treated it as a foundation for the development of the
legislative system. This Constitution contained other principles and regulations. Throughout
other ways, it has evolved and broadened its scope. Within the English legal framework various
forms of tools are needed to explain the usage of objects some of its example is as follows:
This applies to increasing types of organisations that are worthy of becoming a company,
partnership and many others. Furthermore, in the case of violation of certain rules of contractual
law, damages and punishments may also thus be levied. In many other terms, commercial law
refers to the legal field which regularly regulations business activities.
Primary sources: In the original, continuous or supplemental type, these documents mostly
first-hand knowledge such as:
Case law: It is among the most authoritative sources and in different cases, includes
decisions. They emerge to erase any inquiries given the current system in the context of a
statement.

Legislation: For the portion of the Constitution, there have been governmental bodies that
have rendered various types of legislation available in paper. Statues and laws for citizens
staying in UK are also included.
Secondary sources: The evidence from the primary sources was considered to render the
legislation comprehensible to everyone for examples:
Constitutional encyclopaedias: Demonstrating specific vocabulary knowledge is provided
in various forms of encyclopaedias such that clarity can be gained to support users. In Halsbury,
England and Wales legislation is the popular legal textbook.
Publications: This involves the debate, the Members of Parliament’s speeches. There are
other main elements highlighted regarding the legislation to be passed. There are already – anti-
parliamentary papers and articles conducted by branches of government.
Law committee: A centre was appointed by the British Government to investigate the
regulatory system (contract inside the part of the world). We suggest and promote improvements
to the existing law structure. These are suggestions for review from representatives and the
general population.
Textbooks: These are just the articles written by recent graduates. The vocabulary used is
readily interpreted and often used by various people, and could be quickly studied by an
individual.
2. Role of government in law making and how statutory and common law is applied in the justice
courts.
The government is helpful in promoting the attitude of individuals and organizations which
has been developed by turned and guidelines governing the country. Its role was divided
within three parts
Executive function: Managerial feature is basically a position is linked to the supervision
and compliance of national legislation. The King, president as well as other government
members would sit on the board. .
Legislative position: There are two Commons houses i.e. House of Commons and House of
Lords that have the task of presenting measures for their translation into acts in the legislatures.
Law enacted controls the conduct of the country's people.
The position of the UK's high court corresponds to the past of different courts. Cases are
considered by the judiciary to make rulings and support the parties in settling the conflict. Thus,

the role of the majority of the representatives of state is to guarantee that there is still a sufficient
amount of judges in different counties to avoid gaps in decision-making. This stance would be
made clearer by the knowledge of legislation rules and professional legislation in legislative
tribunals. Below is a difference between the two:
Statutory rule: This statute is made accessible in printed language by the legislature.
Sculptures Act securing and maintaining the day-to-day functioning of residents. If, in almost
any event, an issue may not be resolved even before arbitration by the president or a judge, this
can reverberate under concrete law for the purpose of deciding the dispute. Throughout the event
of a crime an person should be punished as is directly proportional to the seriousness of the act.
Civil law: This is statute formed from the legal judgments of the prosecutors, the judiciary
and the laws. The historical tradition, however, appears to operate on moral standard philosophy
that, though, will be secondary. It is unfair under this law to treat the same facts things in
different situations.
3. Explanation of the key legislation, regulations and standards that a new business needs to be
aware of.
The legal framework involves different types of rules that can be rendered in the form of
research to trademark our business. In having a legal aspect of the business, they are essential of
a product. The effects of the above laws must be interpreted with the impact on the business
underlying:
 Company law: The United Kingdom does have the corporate statute
of 2006 which is specific to the country's businesses. In fact, in the
case of any breach or disgraceful infringement, penalty and sanction
shall occur and a company cannot be formed without registering
mostly with Land Registry. This offers the basis for administrators to be
compensated, MOA and AOA created, funds raised, etc. Of example,
the company wants to nominate a new executive, who can only be
named by the specified process at the business members' meeting.
Throughout the incident of any breach of this concept, the enterprise
as well as its executives is responsible for paying fines.
 Employment regulation: The legislation is intended to defend workers and their rights
against prejudice. There are many laws, for example the Equalities Agreement, the

Employment and Education Act etc. Many misconduct cases, which all these laws
prohibit in favour of those working within the organization, have also been recorded in
the past. Candidates were reported to also have a propensity to collaborate with
businesses who respect their employees without discrimination. This memorial almost
always intends to give a fair opportunity to reduce to a considerable graduate disputes or
issues. Of example, if an individual who works for a company considers himself
oppressed against, then the individual involved should interpret employment for
equality.
 Contract rule: Businesses enter into contracts with the company deals. Rules and their
conditions of operation for the arrangements have been enforced. There are also essential
requirements that establish a legitimate agreement which must be fulfilled in order to get
court recourse as a consequence. It helps to provide a fair support to the individuals
involved in a deal. Within the UK no one here is forgiven for that, except even for
economic reasons several deals for the sale of products are reached among sellers and
buyers. Therefore, it is regulated by the Selling and Delivery of Products Act of 1954. If
an infringement of the terms and conditions happens, the whole transaction can be
dismissed and there should be no more effect to the contract. For example, a contract has
indeed been concluded between A and B involving the purchase of goods for and we've
also paid 50% of the amount. A does not provide B with the commodity within the
appropriate amount. In just such a case, B can carry the Supreme Court particular action
against A.
4. Differentiate between legislation, regulations and standards to analyse potential impacts upon
business
Key difference: To regulate conduct, it is the implementation of laws and legislation set
up by institutional structures. State agencies create such rules. Anyone will follow the rule,
namely private citizens, councils and organisations, and also major stars, groups and transparent
foundations. The guidelines are laws that entertaining a society at large proper working, and
preserve peace and compassion between its kin. The regulations are essentially identical to the
statutes, in terms of interpretation.
Messages aim at providing subtle nuances (laws or preconditions) for particles,
systems and institution. They ensure success, complexity and effectiveness when used in a

reliable way. They could display themself as a sort of intentional connection that offers
understanding of the subject under discussion (Roach, 2016).
To build a company, it needs to abide by various standards, ads and rules that allow it to
operate easily. Regulations, advertisements and standards were set up to insure that everybody is
handled the same way. One of the three guarantees that all organisations should have to obey
certain laws, so as not to contest such laws.
5. Different legal formats
There are numerous kinds of business organizations which rely on legal criteria, capital
structure and amount of persons. The styles are dealt with below:
The property as well as the board members relies on the various forms of company
organizations. Those comprise single possession, alliance, mutual holding and Capital Company.
 Sole Proprietorship: This is a kind of business society where a person has to take
control of the corporation and carry its profit and disadvantage. The business
organization has the characteristics, is really well structured up and easily closed, will
make easy decisions and operate on it efficiently, clear marketing and versatility in the
operations.
 Cooperative community: This is a cooperative group with citizens coming together to
achieve mutual collective gains. Fellow Membership is intentional and open to everyone
and each has its own autonomous statutory position and is controlled equally.
 Partnership: It is a form of trade arrangement where at least two eligible persons are
allowed to perform a law-abiding company but may gain the cost. Within culture, a vast
amount of supporters' energies are linked and properly exploited through the aid of
making the correct decision. Depending on this, the preferences of the vast number of
people are assured by taking advantage of simple individual robotic knowledge. As all
products are adaptations of the advantages and failings of the market, they look into the
business (Mayss and Reed, 2018). Their main drawbacks are: limitless risk, punctuality,
restricted resources, unexploited service and a lack of mutual awareness between
subscribing.
 Joint stock Company: This is a part of business wherein investors purchase stocks in the
stock of a company. To a certain point each entrepreneur provides a part of the team that

is dictated by their promotions. Investors may pass their deals to another without the
company’s involvement having any effect on going forward.
Sole Proprietorship:
Advantages Disadvantages
Small start-up and operating costs. This has infinite risk: sole proprietor's
particular property is responsible to fulfil back
responsibilities.
Have less guidance and fewer instructions. It faces challenges, thus collecting money to
keep the company running.
Partnership:
Advantages Disadvantages
Go to tax appraisal The partners face a relentless danger of trade
similitudes and obligations.
Very quick to show The internal operations and assets of each
organization can be affected by a single
coalition.
Co-operative society:
Advantages Disadvantages
This post sells a bit, because there are no
expenses to advertise it.
Even though it has people and certain low-
paying stocks, it may consume money in a
small sum.
He'll hand out fantastic pay and place to his
workers.
This needs thought that is cautious and
extreme.
Joint stock company:
Advantages Disadvantages
Shareholder responsibility is restricted to the
exact amount.
Effectiveness is poor and failures may arise as highly
compensated management have low interest.
More citizens are driven to spend money;
therefore they will collect more money to
operate modern industries.
The administrators of these companies and other board
leaders have more economic benefit incentives, because
they are knowledgeable of the firm's financial situation
and may purchase and sell stock appropriately.

6. Critical evaluation of how different organisations are managed and funded
Many market organizations have specific levels of operation, as the requirements and
strategies suggest. The specifications for managers and indexing will determine the size
including its operations as well as the amount of workers who work underneath the proprietor:
 Sole proprietorship – It's really fair for an easy, low-capital and relatively healthy
company. Companies that involve employment, like hand looms, workshops and
painting, the employment of jewellers, etc., are usually known as independent property
classes.
 Partnership: Membership available, providing legal means of assistance, health
departments and so forth. There have been companies, who require good mid-level
money. Discount trade, potential departments, trade rooms, and small units of output will
act as organizations (Kelly, Hammer and Hendy, 2014). One important source of
financing for a fresh or growing relationship is the partners' own wallets, wealthy and
otherwise. Think how many of their own personal capital they should bring into company
and expect their friends to do the same. Sources may involve deposits, securities and
shares and also portfolio mutual funds. Partnerships as well as other firms customarily
resort to institutions to support their activities for a loan. The marketing strategy, coupled
with the company profit predictions during the next five years, is important to convince
the bank that they are in a danger worth borrowing. The bank would always appeal at the
partners' expertise and knowledge when taking a judgment on lending.
 Co-operative society: Established to resolve underlying financial problems or fix
concerns in the most disadvantaged communities. These are established to procure low-
cost products, home renovation, on-the-market product launches, consumer sales, which
are fair to support growth etc.
 Joint stock Company: This form of partnership is regulated by specific persons and
legally bound by common agreements and guidelines. It is funded by investing or
receiving funds from certain financial entities that are not banks (NBFCs).

PART 2
Recommend legal solutions for resolving a range of disputes using examples
Contract law: An agreement is a legally binding arrangement among two or more
individuals under which each accepts a contractual duty to be met. Most facets of daily life
include arrangements, like owning properties, filing for a car loan, submitting papers relating to
jobs and committing to terms and conditions. Compliance disputes concerning arrangements can
commonly occur because one side refuses to meet the legal duty that it has decided to do.
Employment law: Employment law is defined as the area of law governing the connection
between employer and employee. Then if the company has more than one person, then it is
possible that the company must use employment law. This popular legislation forbids
discrimination depending on the colour, ethnicity, age, or national origin of an individual in jobs.
This ensures that certain things cannot be addressed legitimately when recruiting, dismissing,
encouraging, reimbursing, or on some other part of the work.
Company law:
Case 1: Gordon is ready for 2017; but also 2015 and 2016. Starting from this point, it
defines the act of agreement which; is supposed to obtain a minimum salary of £ 10,000 and a
fee of 9 per cent. There really is no transition in the agreement afterwards; furthermore, there is
just a signed contract among Gordon and Fred on compensation. Through Consent Policy and
contractual policy, though, there is no warning that; Gordon is entitled to forfeit his pay.
Comparably, the legislation allows the company to provide fair costs for its efforts and loyalty to
the customers. Equally, the company will give Gordon a fair fee as a promise.
Case2: As per contract law among consumers and the professional mutually supportive; the
balance will be charged directly upon completion of construction and beginning of management.
The fully utilise both the configuration program as well as the network and phone lines. Janet
can't be treated with care from now on depending on a site application setup. In fact, all site
packages and cell phone towers are heavily correlated; this ensures the websites do not operate
even without phone lines. By that scenario Janet was never at disadvantage of spending up to 3
weeks for the benefits of an unavailable network.
Case 3: Winding up complaint will be used for certain tenants who have commitments of
more than £750 for the community and despite daily tenant participation the organization refused
to respond.

1. Pay off creditor: Through this alternative you will keep a careful buffer from this
circumstance by paying considerable attention to just the leader of a borrower who has requested
an application.
2. Negotiate CVA: Similarly, Blackhorse can share unfinished with its credit officer and
activate the instalment at a later defined date and may entered into a contract to reimburse the
outstanding balance on the negotiated date of its loan.
3. Disagree the debt: This will be included where there is ample proof from Blackhorse that
even a borrower's offer is false.
4. Debt-taking: Blackhorse will even go for advancement to take account of creditor’s
financial mortgage.
CONCLUSION
In the last of report, it has been concluded that in business law a party violates an
agreement by failure to execute the other participant also can prosecute for financial damages, or
can request the judge to compel the other person to act as pledged in the some specific situations.
This field consists of both state and federal legislation, and covers several specific topics with the
general aim of preserving the interests of employees. An act of compromise allows keeping
away from a problem between two different sets very clear and necessary. Specific forms of
cooperatives are created by the wishes of the community. Any of them are significant social
power structures: buyer cooperative societies, partners in development, advertisement
partnerships, private workers, farm associates and fixed deposits.

REFERENCES
Books and Journals
Basedow, J., 2017. BREXIT and business law. China-EU Law Journal, 5(3-4), pp.101-118.
Beatty, J.F., Samuelson, S.S. and Abril, P., 2018. Essentials of Business Law. Cengage Learning.
Dimatteo, L., 2016. International business law and the legal environment: a transactional
approach. Taylor & Francis.
Ibp, I., 2017. Romania Business Law Handbook Volume 1 Strategic Information and Basic
Laws. Int'l Business Publications.
Jan, K. and Harm, W., 2019. A Basic Guide to International Business Law. Routledge.
Kelly, D., Hammer, R. and Hendy, J., 2014. Business law. Routledge.
Mann, R. A. and Roberts, B. S., 2011. Smith and Roberson’s business law. Cengage Learning.
Mayss, A. and Reed, A., 2018. European Business Litigation. Routledge.
Miller, R. L., 2016. Business Law Today, Comprehensive. Cengage learning.
Roach, L., 2016. Card and James' Business Law. Oxford University Press.