Legal Terms and Business Solutions

The assignment delves into the world of business law, exploring various legal terms, regulations, and procedures that govern companies, including sole traders, partnerships, and registered companies. It also touches upon dispute resolution processes like arbitration, mediation, and negotiation, highlighting the roles of solicitors and barristers in providing legal advice and representation. The assignment aims to equip students with a comprehensive understanding of business law and its applications.

BUSINESS LAW

INTRODUCTION
Business law is the legal term which may encompass all relevant laws that affirmed how to
form, run as well as windup business organization. It consists of different concepts of company
like how to start, purchase, manage and conduct liquidation process. In this project, role of
government in law making process is discussed. Also, different sources of law which are helpful
to protect existing laws and manage regulation of entire United Kingdom are explained. Owners
have to follow systematic steps to open and register company. Directors play a significant role in
such process which is mentioned under business. Alternate Dispute Resolution is a helpful
technique to resolve matter of parties in timely and effective manner which can be introduced by
the court to reduce burden of number of cases as increase on daily basis. Barristers and solicitors
are considered as legal consultant according to the rule of business law.
TASK 1
English legal system
Legal system of United Kingdom is presented in a systematic format which needs to be
followed by all members of the nation. Parties who want to resolve matter in systematic so that
they have to follow steps. Firstly, file case in court and then comply with instruction provided by
legal authorities. Cases related to offences in which one person may cause physical harm to
another, such case must lodge in criminal courts only. After complying with the process, judges
give final verdict which is also known as award. An award must be reflected in a written form
and reason of such judgement is also mentioned. But this award may not be binding parties to
follow the same. In case parties never satisfied with the final verdict, they can file same case
among similar parties in other courts. But final decision of supreme may bound them to follow
award.
Criminal and civil law
Criminal law has been considered as an effective legal system which may resolve
criminal dispute created among people. It should be considered as violet laws which may be
imposed on people. There is physical as well as monetary harm that can be considered. It covers
offences like threating, physical harm and much more. Judges of criminal courts are responsible
to impose penalties on person who lodge complaint in order to get the best possible judgement.
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Legal authorities must provide opportunity of being here to parties and take decisions
accordingly. Try to satisfy their needs.
Civil law is another legal body which may entertain cases other than criminal. Various
remedies are available for innocent parties which are able to protect their rights and interest. No
physical cause and other offences are covered in this process. Because civil court only matter
related to monetary loss. Judges are responsible to comply with the rules, regulation and policies
which are imposed on them as per the rule of business law.
Sources of law
Constitution
This concept is considered as the biggest source of law which consists of rules and
regulations as imposed on them. Primary function of this concept is to delegate power among
legal authorities on the basis of their skills, knowledge and work experience. The constitution of
United Kingdom is presented in an unwritten form. But it consists of several policies and
procedures which are needed to be fulfilled by the entire country. This is the largest source of
law which is helpful to protect rights and duties of people. Also, it consists of several rules which
govern companies to follow the same. It restricts company to avoid child labour, discrimination
and other wrongful act which are restricted to be presented in any business organization.
Employers and other higher authorities of business organizations must ensure that members have
to use their efforts in order to attain targets within stipulated time period.
Executive
President of the country is covered in this concept who is able to take decision for success
of entire country. Other legal authorities are appointed by him and for the implementation of new
laws, approval must be obtained by them only. On the other side, selection of president is based
on majority votes of members of parliament. Several members applied for the same post but only
one person can be selected with majority of votes. Furthermore, such persons have the power to
take individual decision regarding success of entire country.
Common and case law
These types of laws are covered under business law. Both common and case laws are
consisting under business law which are useful judges at the time of resolve matter of parties.
Common laws are not present in the written form. It is used by judges for resolve relevant case
which is resolve previously. For the purpose of avoiding any type of misconduct and easily
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understand the things, legal authorities may prefer to use such process. On the other side, case
laws are present in the written form which can be used by judges to understand. According to
this law, judges have to follow mentioned rules, regulations and policies which imposed on them
as per the mentioned business law reforms. Through this, people can easily resolve the matter of
parties in a well and effective manner.
Treaties
This is the kind of agreement which framed among two or more states. Such agreement
should be framed for the purpose of fulfil target and maintain performance as well. This concept
is able to maintain relation among states. Through this they can easily import and export goods
and services and get advantage to develop their state. They form legal contract with each and
responsible to fulfil legal responsibilities which are imposed on them. Obligation of one party
shall be considered as consideration for another. Each state has to select one person who is
responsible to fulfil requirements of legal agreement. But he must be capable to understand
things and meet criteria of business law. This is should be done for some specific purpose for the
betterment of entire country.
Legislature
This is the effective source of law which is different from one country to another. It may
frame new policies and policies for protect existing laws. With the help of source of law parties
can get possible solution of each and every problem and easily resolve the same. This is
compulsory to be follow for entire country.
Role of government in law making process
Government of United Kingdom play important role in law making process. There are
several procedures and policies are followed by legal authorities in order to attain target within
stipulated time period. Initially, Government of UK is responsible to frame bill of draft in written
form and send the same to parliament in order to receive royal consent. In case parliament
provide royal consent to the bill of draft then bill becomes law and needs to be implement in
entire country. On the other side, if parliament neither accept not reject with specified time
period such bill it is deemed to be considered as rejected. It may bound entire country to follow
the same and comply with it as well. Legal authorities must ensure that companies have to
perform their functions which are imposed on them as per the rule of business law. They must
visit in companies and check out the current situation. Must ensures that business organization
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may avoid discrimination and child labour and equal opportunities to all age group of people. All
types of firms have to understand their roles and duties.
Consumer and employment law
According to the rule of The Consumer Protection Act 1986 it is depicted that
companies are responsible to maintain their effective relationship with targeted customers. It
may provide various remedies to numerous customers in order to secure their rights and interest.
Rules and policies which are mentioned under this act are must be imposed on every business
organization and able to maintain their work performance and quality as well. Relationship with
customers can be maintained with analyses their market needs and try to provide goods or
services to them accordingly. This is needs to maintained by every firm which is imposed on
them.
As per the rules of Employment Act 1946, employers are responsible to maintain
significant relationship with consumers. This law may govern entire company to follow rules. As
they are responsible to provide best working environment to employees according to their
expectations and needs. Both employers and employees comes in contractual relationship with
each other, at the time of their appointment. Several terms or conditions and amount of salary
must be discussed by them mutually. So that, employers must provide remuneration or salary to
employees equal to the amount specified under their legal agreement. In case any company failed
to do so then workers having right to file case against firm in order to receive amount
compensation. Amount should be equal to mentioned under law or damages caused to them
whichever in higher.
M1
Legal system of United Kingdom is presented in a systematic format which needs to be
followed by all members of the nation. There are different sources of law which may contribute
in law making process. These are the origin of business law. Different binding rules and
regulations may be governing human conduct. Different sources are like constitution, common or
case law, jurisdiction, executives and so on. All these factors having power to made amendments
according to the requirement of law. In such amendments, legal authorities have to add rules
which are able to protect the existing laws and maintain performance as well.
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D1
Offences are like one person who does wrongful act and cause physical harm against
another person. This concept may have covered under criminal law. Primary aim of this civil law
is to consider the matter of people and resolve their disputes in an effective manner. Under
criminal offence one person conduct physical harm to another person which is enforceable by
law. They are bound to bear penalties which are imposed on them.
TASK 2
Sole trader- It is also known as sole proprietorship. Sole trader is a type of enterprises
which is owned and run by normal person. In this business, legal entities and owner are same,
they are not separate entity (La Belle and Schooner, 2013).
After amending the law, one individual can introduce his own business without
interfering from other people. Government does not restrict in any business activity of this unit.
The person who is personally known as the solely traded firm, but in order to establish a
business, he has to get approval from the legal authorities. Here, at the first stage, an application
form is filled. This application consists non-refundable fee (Hopkins, 2016). Due to the
disapproval of the business, the application cannot be filled appropriately, fees cannot be
deposited with the fees mentioned under the provision, and the person can be banned to take
such action and according to members of the law. May seem fit Registration of such a firm is
optional for them. The sole trader will have to do formal transactions in the name of sole
proprietorship, for the beginning of the firm and the wind, the person needs less quantity and
time, without any other person's conclusions, the decision should be personally made.
Partnership firm- In Partnership firm, there are two or more persons who share all profit or
loss amount in equal manner. As per the law of business rules, in the partnership all the members
are invested their money for smooth running of business operations in proper way. Partnership
firm is not separate legal entity. It is important for business is to carry out by each of the partner
in effectively and efficiently (Bingham, 2011). Partners must have similar aims and objectives.
Registration is compulsory for the partners before start the business at any place. Partnership
deed is that process where all partners must sign legal contract and many other documents after
carefully reading it. In this deed, there are various terms and conditions which must be followed
by them in appropriate manner. They also try to fulfil all required duties and responsibility which
help them in achieving desired goals and objectives. Profit and losses sharing percentage must be
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decided by mutually understanding of each partner or it can be set by the legal authority. In
partnership deed, there are various information which can included such as name and address,
number of total members, profit sharing percentage and many other. All these data or
information is necessary for future time period (La Belle and Schooner, 2013).
Registered company- There are two types of company has been formed such as private
and public firm. Initially, owners are accountable to follow basic rules and policies which are
executed on them as per the rule of business law. Private firms are those, which are established
by private persons without any interference of legal authorities. They are capable to take their
own decision and implement the same in effective manner (Eriksson and Kovalainen, 2015). The
primary aim of these firms is to earn profit by providing varieties and best quality of products or
services to their targeted customers. On the other hand, public firms are those under which
government hold more than 50% share. The primary aim and objective of public firm is to
provide goods and services to customer at cheap price which is easily affordable for age group of
people.
Legal steps for establish company
 At the initial stage, person who wants to start business have to fill application form in
order to receive royal consent of legal authorities for start company. After this application
should be filed with parliament with non-refundable fees.
 Minimum 2 members are requiring to form private firms and maximum must be
maintaining 200. This is basic rule which needs to fulfil at the formation of firm
(Eriksson and Kovalainen, 2015). On the other side, minimum 7 persons are required to
established public firm.
 Members have to conduct transaction with the name of company only. Name should be
select which is unique means not registered before any other firm (La Belle and
Schooner, 2013). After this, members have to obtain certificate of registration form
parliament.
Role of director
A Director is the most significant part of every firm. As according to the rule of business
law directors are collectively called as Board. They are not able to take decision individually,
they can do so in meetings only. Financial related problems can be resolve by taking assistance
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of them. HRD is required to appoint person as director who having suitable skills and
knowledge.
M3
There are several types of corporate firms are stated under business law like- sole
proprietorship, partnership and register company. Owners of every firm have to follow different
legal rules and regulation for start and winding up of firm. Before start transaction they have to
obtain certificate of incorporation for conduct business. This process has been considered as
obtain royal consent of legal authorities (Shaw and Barry, 2015). Every business organization
having its own set of rules and regulation which are compulsory on them.
TASK 3
Alternate Dispute Resolution is the concept which may capable to sort out matter of
parties and preserve their work performance and quality as well. According to this process,
mediators plays significant role. No person can lodge same case between same parties in both
courts and ADR during same time. But they can do so if decision form any legal term may
provide to them.
Arbitration- This is important type of techniques which are resolve dispute of parties.
Through this concept, parties may get best possible advice. Arbitration offer cheap, fast and fair
justice to people (Eriksson and Kovalainen, 2015). Individual who act as mediator under this
process is known as arbitrator. Matter should be decided by him only. Final decision provided by
him is known as arbitral award. After this parties are binding to follow the same.
Mediation- This is extra dispute settlement process. Under which person act as mediator
who is accountable to hear the causes of dispute and solved out matter accordingly (Eriksson and
Kovalainen, 2015). But mediator must ensure that all parties agree on the final decision or
judgement provided to them.
Negotiation- According to the mentioned legal procedure, parties who lodge their
grievances have to transfer their rights as well as interest
M3
Business solutions are having impact both positive and negative. These solutions are able to
maintain effective relations among companies and employees. Also it is able to motivate workers
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in effective manner. Negative impact of business solution is that it can reduce performance and
work quality of company.
D2
Business law consists several rules and regulation which are able to resolve matter of parties
in effective manner and satisfy customers as well. Those solutions are helpful for companies and
entire country. ADR can deliver best possible solutions to people for addressing their matter.
Members of ADR are responsible to deliver best answer to parties who lodge their complaints
before the courts.
TASK 4
Solicitor- Such person is considered legal consultant. Primary function of this person to
provide legal advice to parties according to their requirement. In case any person want help or
wants to receive legal advice then they can consult with solicitor. They are act as lawyers in the
courts. They must receive degree in law subjects. Before entire into courts they have to do
practice in court and learn so many things. They are able to complete education or studies in law
or must be considered as Licensed legal practice. Furthermore, licence for practice is required to
be taken from diverse legal authorities.
Barrister- He is considered as specialist or legal advisor for people. They are capable and
having capabilities to appear in courts and become a part to resolve matter of people. Person
should be select on the basis of skills and knowledge in law (Eriksson and Kovalainen, 2015).
They must understand basic rules, regulation and policies that are going to applied.
M4
ADR and courts are two different process which are assistive to address matter of parties
and keep control their performance accordingly.
CONCLUSION
From the above report, it has been observed that business law is the legal term which may
governed every type of firm such as sole trader, partnership and registered company. Owners
have to follow legal steps in order to establish and windup of firm. in above report, also
mentioned legal consultant known as solicitor and barrister. They are responsible to understand
duties and provide best possible advice to people.
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REFERENCES
Books and Journals
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