Business Law: Nature of Legal Systems & Legislations Impacting Businesses

BUSINESS LAW

Table of Contents
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INTRODUCTION...........................................................................................................................1
SECTION 1 – Nature of Legal Systems & Legislations Impacting Businesses..............................1
TASK 1............................................................................................................................................1
Discuss about Sovereignty of UK parliament........................................................................1
Explain about number of sources of law available in United Kingdom.................................2
Clarify about role of government in law making process and how statutory and common law
are applied within justice court..............................................................................................3
Explain about the importance of company, employment and contract law with its major
impact on business organisation.............................................................................................4
TASK 2............................................................................................................................................5
Elaborate the nature and constitution of various types of business.......................................5
Differences between Incorporated and Unincorporated business with respect to their funding
and management.....................................................................................................................6
Some of the merits and demerits of a partnership firm in comparison to company. .............8
SECTION 2– Legal Solutions To Business Problems.....................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
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INTRODUCTION
Business Law is the branch of law which does have the responsibility to manage number
of work connected to commercial sector. There is huge importance of business law as it gives
idea and ways that what types of decision are needed to run any of the particular business. There
are number of branch under business law which gives knowledge about different department.
This file is based on different fields which is related to commercial law and regulation. Some of
the topics like law making process, sources of UK law and process of formation of a company
will play must significant role within this file(Acemoglu and Jackson, 2017). Additionally, two
case studies will be solved in it where recommendation will play the most important role in this
whole project.
SECTION 1 – Nature of Legal Systems & Legislations Impacting Businesses
TASK 1
Discuss about Sovereignty of UK parliament.
The Parliament House of UK is always known for its sovereignty where every plans and
policies are formed and even no one does the question against it. The decisions which are being
taken by the parliament house are non changeable and must be followed. The most important
thing which is necessary to be understood is that they are one who has been working for the
betterment of the nation. In UK, they are the one who decides who should be delegated what
types of responsibility and that authorised department is not allowed to ask a cross question with
anyone. They does have the right to enforce any of the law or even to end them with immediate
effect. If any of the body takes any sort of decision, then it becomes necessary that they must
take the final approval from the Parliament House which shows that how important role does it
plays within the UK premisses(Aylott, 2018) (Burns, Mullet and Bryant, 2016).
Every year queen of UK delivers the speech within the house of parliament and that does
have its own importance because it helps to sets the agenda for the ruling government parties and
even for opposition parties as well. This speech is also understood as the opening season of the
parliament house. In speech, it is focused that what are the main areas or department where
government will try to focus for work throughout the year.
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Explain about number of sources of law available in United Kingdom.
In any of the nation, it is never an easy task to commence any of the law but still it
becomes important to find the relevant sources that can give there best to commence finest law
so that chances of errors can be reduces. In the similar form, the government of UK has given the
power to commence any of the law within UK has given to four different sources which has been
making the work easier and fast. The detail description about the different sources are explained
below:
Act of Parliament: It is the most reliable source of UK as member of parliament has to
follow the detail procedure to pass any of the law. Within this sources, all of the areas are
covered. This is one of the source in which people are not allowed to raise question just because
of the sovereignty of the parliament house. In this source of law, it is necessary that final
approval should be taken from Queen. They does have the power to overrule or change any of
the law as per the requirement of situation(Cain, McKeon and Solomon, 2017).
Common Law: Even this is also one of the main source where law and regulation are
formed on the basis of case so that any of those area which seems to be weaker can be cover and
much better results can be achieved in future. Common law has delegated the power to judges of
higher level of court to form law which should be based on the situation which does arises.
European Union Law: This is the backbone of UK law because they does have the tag
to form the maximum number of law within UK so that peace can be maintained and equal rights
can be provided. This is the source which do commences the laws and regulation for around 25
countries situated within Europa. This mainly commences the laws and regulations which are
connected to commercial department.
European Convention on Human Rights: It has been also playing the important role
within UK as it do covers the laws and regulations which are related to human rights. It has been
working since very long period of time where they have commenced number of laws and act that
ensures that human rights must be protect.
These are some of the sources in UK which has been working really well by trying to
commences the suitable laws and policies. This laws are even helping in the commercial sector
to take any of the business decisions.
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