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Business Law Assignment - Legal System

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Added on  2020-11-13

Business Law Assignment - Legal System

   Added on 2020-11-13

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BUSINESS LAW : It is the law that governs what happens with commercial matters like regulation of commercial entities, and regulation of commercial transactions. There are various types of business law such as employment law, immigration law, consumer goods sale, antitrust, intellectual property etc. Business law attorneys helps in formation of business by advising how to form and register the company. They also advises us about the contracts formation by ensuring that our rights and interests are protected. LEGAL SYSTEM :A country’s law regulates business practices , policies, rights and obligations involved in the business transactions. The most major legal systems throughout the world are : civil law, common law, customary law, religious law, mixed law. The purposes and functions of business law includes maintaining order, establishing standards , protecting rights and liberties and resolving disputes when it comes to the interaction between the business and government agencies or individuals or other businesses.JUSTICE SYSTEM :A criminal justice system is a set of legal as well social institutions for enacting the criminal law according to a set of procedural rules and limitations. The government regulates the business activities like competitive practices, industry specific practices, monetary regulation and some general issues of concern.IMPACT OF LAW IN BUSINESS :Rules and regulations which are implemented to control business operation. These laws are to protect consumers and also the competition that exists between business . the business that doesn’t obey any of these laws will face fines and penalties. Every business has the impact of law according to the country in which the business located. Like we can say in UK the laws are imposed by the UK government. Legislation mainly acts as a constraint on business. The main areas of legislation that affect businesses are employment law, consumer protection and competition law.LEGAL SYSTEMS :It is generally a system that establishes the rules of a given society and rights of the people who make up that society. A legal system is set up by the constitution, customs applied by the court, subsidiary legislation made by persons who are enabled by primary legislation. The purpose of law is only to protect the smallest minority that has ever existed because a free society has a law in which each and every men live but as oppose to a whim-ridden rule of men.
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