Business Law: Sources, Role of Government, and Impact on Business

BUSINESS LAW

INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1. Sources of Law......................................................................................................................3
P2. Role of government in law making process..........................................................................4
How common law and statutory law is applied with justice court..............................................4
Effectiveness of Legal system.....................................................................................................5
TASK 2............................................................................................................................................6
P3. Using specific examples illustrate how company, employment and contract law has a
potential impact upon business....................................................................................................6
M2. Differentiate between legislation, regulations and standards to analyze potential impact
upon business...............................................................................................................................9
D1. Provide a coherent and critical evaluation of the legal system and law.............................10
TASK 3..........................................................................................................................................10
P4. Explain how different types of business organizations are legally formed.........................10
P5 Funding, management of various organization with advantages and disadvantages...........12
TASK 4.........................................................................................................................................14
ssP6. Recommend legal solutions for resolving a range of disputes ........................................14
M4. Compare and contrast different sources for legal advice and support for dispute resolution
...................................................................................................................................................17
D3. Evaluate the effectiveness of legal solution, legal advice and support for dispute resolution
...................................................................................................................................................17
CONCLUSION..............................................................................................................................19
REFRENCES.................................................................................................................................20

INTRODUCTION
Business law is considered to be as rules and regulations which are applicable upon all
business organizations which comes together to achieve goals and objectives. These laws are
dynamic in nature and have wider scope because of their tendency to deal with issues that affects
business in various aspects. In a broader manner it can be explained as that framework which is
formed in order to manage selling of product and services as per standards of the business. In the
following assignment sources of law, role of government in law making and evaluation of law is
done. Also various types of organization, management, are funding. Both advantages and
disadvantages is covered. Solutions related to legal issues are going to be covered.
TASK 1
P1. Sources of Law
There are different types of sources which is available in UK and this sources are
effective because it certainly provides the way to take decision through which goals can be
accomplished. Some of the sources of UK law are explained below:
 Equity Law: It is the law which has a huge importance because role of parliament can be
seen in it. Any of the law which is commenced in it are formed only after obtaining the
approval of Queen as per Royal Assent Act. In addition, it can be said that House of
Common and House of Lords has to contribute equally in it so that goals and target can
be accomplished.
 Common law: It is one of the most important law in UK because it certainly forms the
law on the basis of situation which is presented in front of the jury. Under common law,
judges needs to judge the situation and try to understand that where past cases can allow
to resolve the case or whether there is a requirement of to pass new law to declare the
result.
 European Union Law: It is considered to be one of the most important law that has
been formed in order to make the people of Europe fell safe within the boundaries of the
country. Currently, there are more than half of the law enforced law which has been
introduced by EU law.

P2. Role of government in law making process
Executive role: As per this role is related towards forming of policies which is an
concrete framework for law in UK. These laws are to be enforced by executives only for
maintaining law and order (Bird. and Park, 2016). In this Queen, Prime Minister and cabinet
ministers are included. Government is having superior authority of forming law that is done by
following an proper procedure within the parliament in which discussion is taken place over the
bill presented in to it both the houses and after getting royal assent becomes law applied over a
country. Role of government has been explained as above.
Legislative role: Various law are enacted which is presented in the form of bill in
parliament. House of Lords and House of Commons are two houses where discussion over bill
takes place. After this bill is send for Royal Assent.
Judiciary role: In the government role is to assist formation of law. All this is done to
give judiciary effectiveness in passing judgments (Davitti, 2016). The result obtained by it helps
in building required number of courts so that all the delays in different cases can be avoided.
How common law and statutory law is applied with justice court.
Common law:In courts judgments are made on the basis of precedents that are going to
help in solving of case of similar nature (Desai. and Kroll, 2017). These laws are very much
important which helps in making certain rules which is help in creating positive environment. In
case, judgment of a case comes out as a new law then it is considered in subsequent court
decisions.
Statutory law: It refers to principles and rules of law which are made with a view to
govern rights of citizens living in a country. It is know as concrete form of laws which are
formed through a proper procedure within parliament. These are available in written form by the
legislative body (Fenwick, 2016). It follows a fixed procedure of passing the bill in the
parliament in which it is transformed into an act which is made applicable across the country. In
this the fundamental structure of legal system on which number of statutes are established. It is a
declaration by the government that every individual has to comply with it and judgment is made
considering the future cases.