Business Law & Role of Government- Assignment

Added on -2021-02-21

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Business Law
Table of ContentsINTRODUCTION ...............................................................................................................................3MAIN BODY.......................................................................................................................................3TASK 1.................................................................................................................................................3A) Meaning of Sovereignty and various sources of law..................................................................3B) Role of government in making law.............................................................................................4C). Company, Employment and contract law impact on business...................................................5Difference between legislation, regulations and standards..............................................................6TASK 2.................................................................................................................................................6Different types of business organisation and manner they are managed and funded......................6TASK 3.................................................................................................................................................8Legal advice.....................................................................................................................................8CONCLUSION..................................................................................................................................10REFERENCES...................................................................................................................................11
INTRODUCTION Business law also known as Commercial law is a term which basically means all the rules andregulation which are designed or framed in respect of commercial and trade business activities asundertaken by any business firms. It has to be complied by every business organisation for carryingon commercial, business and trade operations. It is related with function of regulating all thecontracts, agreements and bonds which are made by corporate firms. Also, compliance has to bemade at the time of manufacturing and selling of any consumer goods with the purpose of makingprofit and growth. It is related with rules, provisions and norms with its main aim to regulate trade,commercial activities as undertaken by business firms for making profit and achieving customersatisfaction. It governs business function, working, operations & defines manner in which businesscan be formed, financed and managed. This report is based on applicability of UK Law. It willexplain different sources of law along with role of government in making law. It will definestatutory and common law uses in the justice courts. Furthermore, emphasizes will be made onimpact on business as created by company, employment and contract law. Also, report willelaborate about different business organizations types along with its legally formation, managementand funding mechanisms. At last, it will provide legal advice related to case study.MAIN BODYTASK 1A) Meaning of Sovereignty and various sources of law.SovereigntyThe term sovereignty refers to the full of power & rights for governing the body for itself,without any type of interference from all the external and outside resources & bodies as well. It isgenerally a substantive term that designating all the supreme authority that over the political(Balganesh, 2019). Sovereignty of parliamentParliaments of Sovereignty is basically a type of principle in the constitution is UK. Itgenerally makes the parliament with all the supreme & legal authority in UK. It can create their ownend of any law. Basically, court be never overruled for its legislation & also no parliament can passany of law which can not be changed in the future. It is basically so much long doctrine where it hasbeen long regarded for the most fundamental elements of all the British constitution. It generallyholds the Parliament which has lots of authority of legislative & also that the court have nothingauthority for judging the statutes false. This doctrine is now has been criticized the philosophical &
historical grounds & also it claims the critics which is relatively recent creation of the academiclawyers. Various sources of UK LawCommon Law:- Common law is generally refers to the body of the law which has been derivedfrom all the decision of judicial of the similar tribunals and courts as well. Common has been arisesas the precedent in that case when all the parties are disagreed on the law then the common law inthe court looks for all the past Precedential decisions of the relevant courts & synthesizes all theprinciples of all the past applicable about the present & current facts. The term common law has somany connotations. The three set out of the least common utilization inside the legal community(Bisschops and Beunen, 2019).Legislation:- This legislation has been passed by the parliament of UK. Legislation generally calledas the bills that has been discussed in both the amendments & house which approved & added bythe house before the Bill has been received. Legislation generally a proposed by rememberer of allthe legislature. It is an official type of web-accessible database of all the statute law of UK. Thereare so many purposes of legislation where to authorize, to regulate, to provide funds, to outlaw andalso to restrict of to declare.Statutory Law:- it is generally an act of the parliament that has been created by the new law & alsochanges in the existing law. It an type of bill which has been approved by both the Lords of house& also common house that has been given for the Royal assessment of Monarch. This law generallyused as to write the law. It is basically enacted by all the legislative body. In this case court hasbeen required interpret the laws with all the current aids like Hansards, dictionaries, long titles &others as well. There is no court which has the right to raise the problems and disputes over theprovision of the law as they are absolute nature. There is no entrain discretionary of power whichhas been judged over the applications and interpretation as well (Cohen and Sabel, 2017). EU Laws:-European union law is generally a system where the law is operating within all the members of thestates in the European unions. It is a political, social & economic institutions of all the policies. It isa type of regulation which has been passed for influencing the broad range areas in UK. It alsoinfluences the European union that involves the financial services, agriculture & environment aswell. EU law is directives that has been implemented by the UK legislation in UK law. It is nomerely the economic union but also intend to the ensuring all the social progress & seek to thechangeless improvements of working & living the conditions of the individuals and peoples as well.B) Role of government in making lawParliament is one of the highest legislative in the authority in UK. It is one of theresponsibility to check the working system of the government and also examining, approving and

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