Business Law: Nature and Management of Business, Liability in Negligence, and Employment Rights

Business law

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK...............................................................................................................................................3
NATURE AND MANAGEMENT OF THE BUSINESS :.............................................................4
CONCEPTS OF BUSINESS LIABILITY IN NEGLIGENCE :.....................................................4
VICARIOUS LIABILITY OF THE EMPLOYER :.......................................................................5
INDIVIDUAL EMPLOYEMENT RIGHTS :.................................................................................5
IOM SOLUTIONS :........................................................................................................................5
RECOMMENDATION FOR IOM SOLUTION : .........................................................................6
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
The concept of business law is discussed in this report. There is an information for the
nature and management of company and sources of law along with vicarious liability for an
individual and employer as their rights(Mogaji, 2020). All of the factor are essential for a kind
of business and importance of this have been there in an organisation and there is confusion and
problem in which Sam get stuck for his business IOM Solution and there is a discussion for
various options available for Sam to switch and choose form sole trader as any other business
and this is recommended to him that which is going to be best partnership for him in accordance
to expand his business as he has been owner of sole trader for past eight years and his business is
expanding in past two years, every partnership will be mentioned in this report among with the
best solution for Sam and his IOM Solution.
TASK
There is various sources of law which mentions and play an helping hand to interpret the
law in some cases and this is been divided in five categories which are:
1. COMMON LAW : The principles are given through lawmakers with shared rule in all
over the country which have same tradition and customs develops by courts. This is to be
amended from the government in the parliament as there is no written act for the
parliament(Nemeczek, and Pitz, 2018).
2. EQUITY : The concepts of remedies and principles is based on natural justice which is
to be recognised through the Lord chancellor. Equity of precedent is being consider with
reasonable fact in past with similar case.
3. STATUTE LAW : The laws passed by legislation in which the bill is being drafted and
passed through ministers of parliament while on the other hand delegated legislation is
being passed with advice of Majesty of privy council(Lemassel, 2020).
4. CASE LAWS : The decision is being made form the court, matters which assist court for
implementation of decision in similar cases for the one which is already decided in courts