Business Law: Nature of Legal System, Impacts on Business, Legal Structures and Organizations

UNIT 7: BUSINESS LAW

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
LO1..................................................................................................................................................1
Explanation about the nature of the legal system........................................................................1
The role of government in law making and the way common and statutory law is applied.......4
LO2..................................................................................................................................................5
Potential impacts of the law on a business along with difference between legislation,
regulation and standards to evaluate potential impacts...............................................................5
LO3..................................................................................................................................................6
Unincorporated VC incorporated legal structure.........................................................................6
Different type of business organization and legal structure........................................................6
Classification of company...........................................................................................................7
Formalities required related to starting and registration of business...........................................7
LO4..................................................................................................................................................8
Brief overview of Contract law, employment law, Company law..............................................8
Salient legal points of each case;.................................................................................................8
Legal solution to each of the problems........................................................................................9
Justification for the advice and solution....................................................................................10
Compare & contrast the effectiveness of these recommendations............................................10
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Business law is a kind of knowledge that helps the businessmen and managers while
taking sound decisions regarding their work within the organization. There are countless laws
and regulations that applied within the commercial enterprise world. These laws can enable the
firm in defining the honourable activities, providing firmness and discarding risks along with
cognitive state. Moreover, they also helps in resolving the conflicts (McCorquodale and et.al.,
2017). This report will basically describes the complete concept of business law along with the
judicial scheme and statute law that influences the company within the UK. Apart from this, the
study will also highlight the description about procedure of law making along with differences in
common law and statutory law. The second part of the report will describe various essential laws
in discourse of given scenarios. Moreover, the potential effects of the law on an organization are
also will be assess. In the last section, legal solutions and advices will be given according to
provided case studies.
MAIN BODY
LO1
Explanation about the nature of the legal system
Law is basically a set of rules that are created and implemented by particular country
through social and political establishments to modulate the activities of its members. The
primary purpose of law is to maintain order, resolve disputes, establishment of standards and
also in order to protect rights of an individuals. There are five types of legal system i.e. civil law,
customary law, legal law, mixed law and religious law. The European country judicial scheme
follows a particular power structure, on top of which is the Supreme court (Canestrari, 2019).
The finding of facts given by this judicial body are binding on all the judicial bodies within the
hierarchy. Even after the Supreme court is given the advanced court, decisions of European
court of justice must be followed by each and every courts in the United Kingdom under various
sub sections of the European communities Act 1972 (Stepanovienė, 2017). The major difference
between between Criminal and Civil court has been explained below with the help of pictorial
representation:
1