Business Law: Sources, Role of Government, Statutory Law, Common Law, Company Law, Contract Law, Employment Law

This presentation provides an overview of Business Law, including the sources of UK law, the role of government in the law making process, statutory law and common law in justice court, and the various laws and regulations related to company law, contract law, and employment law. It also discusses different types of business organizations and their advantages and disadvantages, as well as the ways to manage and fund a business. The presentation concludes with recommendations for legal solutions to resolve disputes.

Business Law

Table of Content
 Introduction
 Sources of UK law
 Role of Government in Law making process
 Statutpry law and Common law in Justice Court
 Company, Contract and Employment law
 Types of Company
 Advantges & Disadvantages
 Managed & Funded
 Recommandation to legal solution
 Conclusion

Introduction
The law which govern the business and all of the commercial sector is known
as business law. In present time, the alternate name of business law is
mercantile law. The most important thing which is required to be
considered in this law that every organisations must comply its terms and
condition for better result.

Sources Of UK Law
It is very important for any of the organisation to know about the legislation system
that how they commence law and what are those area which they need to cover
so that business activities can be managed successfully
Act of Parliament: The most successful body of UK for commencing the law is
Parliament as they commences any of the law as per the requirement of local
public. The responsibilities in this has been given to the member who represent
the Parliament House.

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Common Law: It is also one of the source where laws are commences as the
situation which arises. This law is helpful because it cover the weaker area of all
of the other source.
European Convention on Human Rights: This is one of those source which
discusses about the rights which are necessary to be given to every single person
living within the premisses of UK.
European Union Law: This is one of the source which is working within the
premisses of UK since very long period of time. The most of important thing
which is required to be considered is that it has been commenced near around
half of the total acts which has been commenced within the premisses of UK.

Role Of Government In Law
Making Process
It is necessary for any of the company to understand that only sources of law
doesn't help to run business organisation successfully but the thing which
is required to be understand is that how government shows their
participation in commencing law because that has the direct link with daily
basis transaction of an organisation.
In first reading, the member are needed just to overview the requirement of
bills and need to check that whether bill should be handed to anther stage
or not. The second stage is called second reading where existing member
checks that whether the points which are mentioned is valid or not.

Statutory Law And Common Law Is
Applied Within The Justice Court.
It is never an easy task to declare any of the decision because it is directly related with
the future of any of the particular organisation or individual. Whenever justice court
wants to declare any of the result they needs the help of various sources of law as it
makes work easy and faster. If cases are of simple in nature and previously
discussed in then it is said that justice court takes the helps of those laws which has
been commenced under statutory law. Where as justice court always faces the
problem whenever any of the new case come across them. In any of this situation
justice court tries to search the similar cases which might have been discussed in
any other part of the world else they declare their decision of own by commencing
new law this is how common law is applied in justice court.

Company Law, Contract Law And
Employment
The present scenario of law says that there are various laws and regulation which is
required to be complied by any of the business organisation as it helps to work in
very efficient manner. This laws have various kinds of impact as sometimes it
helps to achieve the target and sometimes it do create unnecessary problem for the
company. Below, there is the discussion about various laws and regulation.
Contract law: This is the law which tells that how any of the company is required to
work. The main benefit of this law is that chances of competing the assigned and
contract term is high. The advantage of of contract law is that it tells that in which
task is needed to be done and who can be involved so accomplishing it. The
positive impact of contract law is that it provides the guidelines due to which
chances of occurring errors automatically reduces.

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Company law: This law applies on each and every registered organisation where
various regulations are required to be followed. Company law has lengthy and
expensive procedure which is needed to be followed and that has been always been
the negative impact on organisation. The most significant benefit of company law is
that it help to manage every work in systematic manner and this is the reason that
chances of error automatically reduces.
Employment law: This law has been very crucial for employees and employer both. It
tells that what are the boundaries of any of the employees and how they need to
perform within the organisation. The best benefit of employment law is that it
allows to get actual amount of remuneration to employees and that helps to motive
worker to perform better in future through which organisational goals can be
achieved easily.

Different Types Of Business
It is necessary for any of the person to have the knowledge about business
organisation and how they are legally formed because that helps whenever
person requires to setup the business organisation.
Sole Proprietorship: This types of business is performed at smaller ground
were there are no such requirement of following various laws and regulation
Partnership: This types of business firms are required to involve number of
people together to earn higher amount of profit. The main benefit of
partnership firm is that number of formalities are very rear and very easy to
operate.

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Limited Liability Company: It is the corporate structure where owners are not
personally held liable for any of the debt which arises on the organisation. LLCs
have the characteristics of corporation along with sole proprietorship or
partnership. There is a legal procedure that is needed to be followed by LLCs
while incorporating any of the business
Corporation: This form of business organisation are established for the performing
the business activities are international market too for the purpose of earning more
profit. This types of organisation are mainly involved in the manufacturing sector.
There are number of regulation which is needed to be followed by corporation in
order to achieve its target on specified time period.

Advantages And Disadvantages
Business Organisation Advantage Disadvantage
Sole Proprietorship There is no incorporating
cost which is needed to be
paid.
This types of association
don't get the right to sue and
be sued.
Partnership Several tax benefits are
given.
Partners and Firm are same
as liability is not limited.
Limited Liability Company This types of organisation are
flexible when it comes to
paying tax.
There are several additional
cost which is needed to be
paid.
Corporation Unlimited number of people
can connect with company as
a shareholder.
The lengthy process of
incorporating takes additional
time to incorporate the
company.

Managed And Funded
Business
Organisation
Who will manage it? Way to raise capital
Sole Proprietorship This types of business
organisation is required to
manage by investor himself.
They can raise capital through
the way of personal investment
and credit credit is also one of
the available source.
Partnership The partners will take the
responsibilities to manage
every single work..
Personal assets of partner is
one of the source of raising
fund, banks loan, Credit Card is
also one of the way.
Limited Liability
Company
Manager and member takes
the responsibility in it.
Bank loan, credit card and
additional investment by
member are the main source of
funding.
Corporation Directors, Company
Secretary, Member are the
one who manages the daily
affairs.
Issuing share,debenture, bond,
peer to peer lending are the
main source of funding within
corporations.

Recommand The Legal Solutions
Legal Solution can be defined as the way through which solution are being
given by any of the expertise panel. The way of finding the legal solution
is important because it consumes the the time and money both. Some of
the ways through which disputes can be resolved are listed below:
Negotiation: It is the easiest process to resolve the dispute by the means of
negotiating the terms and condition of agreement. Here, parties try to solve
their dispute of their own. It is one the less expensive process to solve the
dispute

Recommand The Legal Solutions
Legal Solution can be defined as the way through which solution are being
given by any of the expertise panel. The way of finding the legal solution
is important because it consumes the the time and money both. Some of
the ways through which disputes can be resolved are listed below:
Negotiation: It is the easiest process to resolve the dispute by the means of
negotiating the terms and condition of agreement. Here, parties try to solve
their dispute of their own. It is one the less expensive process to solve the
dispute

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Mediation: this process of solving dispute is very suitable in modern era as
suggestion are being given in it. The parties need to decided that whether
they want to follow the suggestions or not to solve the dispute or not.
Conciliation: Under this method of solving the dispute, conciliator tells the
disputed parties that how they can solve their dispute by meeting the
maximum term and condition of contract. It is helpful because it consumes
time and money both.
Arbitration: This form of solving dispute is being adopted the most because
disputes are solved through legal methods as contract are being prepared in
it. The number of arbitrators should not be in even number.

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Recommendation: It has been recommended to Mr Alex and Mr Ali that they
must try to solve their problem through the method of arbitration. In this
method they will get the chance to solve the problem which has been
arising in front of them. Also, it will help them to never arise same kind of
issue again.

Conclusion
The above file describes that law has its own important which tells that how
any of the organisation is required to take business decision. The legal
system of UK takes the help of various sources to commence law so that
none of the section can be weak and that will directly reflect on results.
Investors are required to comply with each and every section while
commencing any of business organisation to operate it in successful manner.
The motive behind selecting the alternative ways to resolve the problem is
very simple that disputed party wants to solve the problem as soon as
possible and that is possible only through alternative ways.

References
Allen, W. T., 2017. Our schizophrenic conception of the business
corporation. In Corporate Governance. (pp. 79-99). Gower.
Bayern, S., 2016. The Implications of Modern Business–Entity Law for
the Regulation of Autonomous Systems. European Journal of Risk
Regulation. 7(2). pp.297-309.

Thank You