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Solved: Business Law Assignment

   

Added on  2021-02-21

15 Pages4872 Words31 Views
Business Law1

INTRODUCTION...........................................................................................................................4SECTION 1.....................................................................................................................................5TASK 1............................................................................................................................................51. Analysing the point ‘parliament is sovereign’ and sources of UK laws..................................52. Role of government in law making process and what the use is of statutory and common-law in justice court.......................................................................................................................53. Impact of contract law, employment law company law in business sector.............................6TASK 2............................................................................................................................................71. Types and formation of different business organisation..........................................................72. Advantage and disadvantage of unincorporated and incorporated business with itsdifference between in terms of starting process..........................................................................73. What are the advantages and disadvantages of company over partnership firm.....................8SECTION 2.....................................................................................................................................9Case 1...........................................................................................................................................9CASE 2......................................................................................................................................11CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................142

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INTRODUCTIONBusiness law is the commercial practice that contains certain guidelines that are used tosafeguard the interest of employee by resolving the chances of disputes which arises among thevarious parties. It consist of public as well as private law that guide the individual in relation tothe way they can start, purchase, end as well as manage ethically all the activities associated withbusiness. Business law talks about the intellectual property right, employee legislation, taxationlaw, contract as well as corporate law that have various sections and each section depict the rightand the way problem needs to be resolve appropriately. Along with that monetary transaction orcompensation is one of the typical issues that lead to clashes which are resolve by the practice ofsuch law (Business Law and Legal Definition, 2018).The prime objective or the purpose of the existence of Business law is that it provides theawareness to the people regarding their right so that other do not take their advantage andmislead them. Business or the internal member goes through various phases where have toformulate the decision or start new business. So each and every process requires the standard tobe established and order to be maintained to preserve the interest of people. For taking suchdecision an individual require knowledge which is gained with the help of business or mercantilelaw. Generally such law is widely used in Companies Act, Contract Act as well as PartnershipAct which help to maintain the interpersonal relationship and contain role and interest of allpartners. For instance, when partner run business partnership deed is prepared which contain therole, contribution as well as profit share which each of them will get and maintain the peace.Hence, there are various sources of law in context to Business law the common sources areconstitution law, administrative regulation, agreement and statutory law. These sources help thebusiness to maintain the guidelines and take strict action against the business or an individualwho breaches or ignore the rules. This may lead to the imposition of legal actions, imprisonmentor can cancel the licence of company. This report is prepared to bring the clarity and resolve the various doubts associated withlaw within UK. Who is sole responsible and have the supreme power to take the major decisionlike which low needs to implemented determine why the “Parliament is Sovereign’’ in UK.Along with that discussion will be made on the statutory low and its application within justicecourt that influences the existence of business entity.4

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