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Business Law Set of Principle Assignment

Added on - 08 Dec 2020

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BUSINESS LAW
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.Discussion on the point 'Parliament is Sovereign' and different sources of UK laws.............32. Roles of government in the law making process and how statutory and common law areapplied in the justice courts..........................................................................................................43. Impact of Contract law, Employment law and Company law in business sector....................5TASK 2............................................................................................................................................61. Types and Formation of different business organisation.........................................................62.Advantages and disadvantages of unincorporated and incorporated business.........................63. What are the advantages and disadvantages of company over partnership firm.....................8Section 2...........................................................................................................................................91. Solve disputes of different cases with appropriate case laws with legal solution...................9CASE 1........................................................................................................................................9CASE 2......................................................................................................................................11CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
INTRODUCTIONBusiness laws are associated with rules and regulation that are necessary to be followedby each organisation that support them to sustain for long time in competitive world. These arethe part of laws that benefit an organisation to deal with specific operation and commerce andthus it is also known as civil law that support both public and private company. In general,business law help an organisation how to set a business, end the process, purchase, sales andguide to handle all types of business operation (Business Law and Legal Definition, 2018). Thislaw basically includes tax rules and principle, intellectual property, contract law, instrumentallaw etc. Business law regulation are also judicial cause which is obligatory on every singlepersonality and this are implemented by the Supreme. It heighten the cognition to drawconclusion without breaking any rules or laws that are framed by authorities.In this report, different sources of law, role of governance in creating any law, howstatutory and common law is applicable in justice courts are discussed. Apart this, contract andemployment law have a potential impact on business, types of legally formed businessorganisation and how they are funded and managed is discussed. Report also discuss the variousrecommendation that help to overcome a serious problem.TASK 11.Discussion on the point 'Parliament is Sovereign' and different sources of UK laws.'Parliament is sovereign' can be explained as the law making authority of legislative bodywhere they can make, change or even eliminate any law without any interference of any legalbodies. In other countries, basically President sign the prescribed law and final authority isobtained from Supreme Court but in United Kingdom all the major authorities are in the hands ofParliament. Once decision is given by authorities, in this case one can challenge them.UK's parliament is divided into two groups named as House of Lords and house ofCommon where they all follow the rules and regulation which were implemented under RoyalAscent Act, 1961. There is a significant role of Queen's speech as every party decide thereagenda after that only (Bishara and Westermann‐Behaylo, 2012). Government prepare thespeech which is addressed by Queen in house of Lords. After this speech the parliament sessionstarts in the month of October and November.
UK have a strong background when it comes to form any law as there are differentsources to form they. It is not mandatory that if any law is prepared must be followed as finalapproval must be obtained from House of Lords. Some of the sources of law in UK are:Legislation:This laws are mainly prepared by legislative body. This body of UK havethe supreme power to form any law as parliament is involved in it. The house parliament islocated in London. In this process, House of Common and House of Lords take activeparticipation and because of that no one can even dare to challenges this law. It is said asprimary source of law in UK premises.Common Law:This laws are mainly formed by the judges of high court and supremecourt. This types of laws can be made on raised issues where legislation is silent on particulartopic and in this case, judges consider the past decisions. Common law are commenced on theactivities of civil wrongs and can be reformed at any period of time.European Union Law:In last twenty five years around 30% to 40% of UK law arecommenced by this Union authority. In this kind of laws Prime Minister take the final decisionwhether it should be implemented or not or else any kind of amendment is required. This lawsare formed by considering all the member states.European Convention On Human Rights (ECHR):This laws are commenced toprotect the right of all peoples. All the decisions which are related to human rights are taken onthe basis of ECHR and because of this UK law is improving day by day.2. Roles of government in the law making process and how statutory and common law areapplied in the justice courts.In every nation roles are divided at the time of formation, where government playsnecessary role to support it. In context of UK, law are formed with the support of 'House ofCommon' who need to draft the bill in parliament house.The roles which are played by House of Common at the time of law making process areFirst Reading:In this simple drafted bill is presented (Burley, 2017).Second Reading:Here, discussion will take place between house of commons.Committee Stage:If it is required to have any changes then this committee will do andthere will be proper reading of bill to understand its positive and negative impact.Report Stage:This stage get involved in the matter only if committee stage decided tohave any changes in the bill.
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