Business Law TABLE OF CONTENTS INTRODUCTION
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Added on 2021-01-02
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BUSINESS LAW TABLE OF CONTENTS INTRODUCTION 1 TASK 11 P1 Different Sources of Law 1 P2 Role of government in formation of laws3 M1 Effectiveness of legal system in terms ofrecentreformsand developments 3 D1 Critical evaluation of legal system and law with specific examples 4 TASK 24 P3 4 M2 Impact of regulations, legislations and standards 5 TASK 35 P4 Solution for the given cases5 P5 Justification of Solution 7 M3 Positive and negative impact
Business Law TABLE OF CONTENTS INTRODUCTION
Added on 2021-01-02
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BUSINESS LAW
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Different Sources of Law..................................................................................................1P2 Role of government in formation of laws.........................................................................3M1 Effectiveness of legal system in terms of recent reforms and developments..................3D1 Critical evaluation of legal system and law with specific examples................................4TASK 2............................................................................................................................................4P3 ...........................................................................................................................................4M2 Impact of regulations, legislations and standards............................................................5TASK 3............................................................................................................................................5P4 Solution for the given cases..............................................................................................5P5 Justification of Solution....................................................................................................7M3 Positive and negative impact of legal solutions to business problems............................7TASK 4............................................................................................................................................8P6 Alternative Dispute Resolution.........................................................................................8M4 Effectiveness of recommendations..................................................................................9D2 Critically review and evaluate the use of appropriate legal solutions..............................9CONCLUSION................................................................................................................................9REFERENCES .............................................................................................................................10
INTRODUCTIONBusiness laws are cluster of several acts and statutes which assist in the performance ofcommerce and trade in the market. Each country complies with their rules of business and theseregulations are necessary to be followed by companies doing their business. These obligationsare comprised of laws covering contract, company, sale of goods, employment rights and manymore legal statutes. It is essential to abide by these laws otherwise it will create threats related to legalformalities. This report deals with assessment of sources of laws in United Kingdom and howthese laws are created and applied upon an organisation, also what are the regulations a companyhas to follow during incorporation. This report covers advice to the clients as per given legalproblem in the sector of contract and employment laws. Methods of Alternative DisputeResolution have also been discussed in this paper with relevant case studies and references.TASK 1P1 Different Sources of Law“Parliament is a sovereign” this statement shows that every individual have theauthority to express their views and act as per constitution needs. It means, nation is working asper the current changes and legislation by considering necessary elements fir controlling severalprobabilities of conflicting situations. Main objective of general assembly is to enact several lawsand acts for imposing it at marketplace in order to prevent society from wrongful conducts.Laws are those set of rules and regulations, enacted by governing entities of a country. Generallythere exist two kinds of sources Primary and Secondary. Primary sources are comprised ofcustoms, constitution, international conventions, treaties, usages, etc. whereas secondary sourcesare formulation of judgements and precedents given by the court. Every source has their ownimportance in structuring laws. Secondary sources are usually used to remove contingencies oranomalies in provisions of law(Bagley, 2010).In addition, secondary sources are helpful increating new laws or amending the existing laws. These sources provide a basic view of why andhow laws are being created.European laws are considered as primary source of law and are enacted by the parliamentwhich is consisting of the Queen as its head and the Houses of legislature, the Commons andLords. These laws are enforced in the jurisdiction of European Union. EU is a member of 281
states and business is conducting among these members according to the laws implemented byEuropean Commission. EC was originated under Communities Act 1972. It is regulated byEuropean Ministers, Cabinet, Courts and various Councils. EC is considered as executive bodyof EU. The primary source of European laws is extracted from various treaties, directives andregulations. Treaties are those agreements between two states in order to perform certainpromises as per the agreement. As treaties were the oldest form of legal obligations; hence it isconsidered as primary source of framing laws. The precedents or judgements given by courts areconsidered as secondary source and in UK these are the reason for enforcing new laws ascommon law has been practised there.Similarly, laws of business are made by using these sources. Basically, treaties andprecedents are considered to formulate business laws. Treaties are the oldest source which wasused in establishing trade relation with other states and precedents of court are the part ofcommon law in UK. International conventions are also synchronised to form such laws whichcan meet the expectations or other countries entering into business in UK. These conventionsprovide a guidance of how trade and business to be conducted in peace. English legal system are mainly classified into two parts such as; civil law and criminallaw. However, these two laws are having distinct objectives like civil one is handling normalthings whereas criminal act is ensuring that crime is get controlled. At the same time, it is alsoidentified that laws are originate are from various elements which are known as sources of law. Some of the major sources of laws are- European court, common law and acts ofparliament. All these three origins are totally different from each other in various extent.However, European court was originated in societies and established after world war II in orderto maintain lasting peace. In fact, it is also known as court of justice and supreme court ofEuropean union where various judges are present for managing several complex cases whichmay affect the environment of nation. Mainly, this court is focussing in controlling wrongfulconducts because initially 7 judges are appointed of each or every state in this tribunal forresolving issues. On the other hand, acts of parliament are also enforce somehow to impose somespecific legal norms for managing inappropriate things which is incurred at societal place.However, “Act of Parliament” is liable for creating new or fresh laws or can also authority tomodify existing one. Basically, bill is known as act which is prior approved by both house ofcommons and lords or furthermore pass it to royal assent by Monarch. Thirdly, common law is2
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