Business Law Sources Assignment
Added on 2020-10-05
13 Pages4082 Words166 Views
Business Law
INTRODUCTIONBusiness law comprises legal provisions that are applicable on transactions ofcommercial nature occurred in an organization. The other names are commercial law ormercantile law. In UK, every entity is required to abide by laws that are applicable on them(Ayios, 2018.). This law has two distinct parts viz. Law governing company, partnership,agency etc. and law regulating contracts. This report exhibits sources of law, role of governmentin law-making, importance and applicability of statutory and common law in justice courts.Further, impact of various law upon a business, different form of business organizations and theirfunding and management. Lastly, legal solutions for resolving number of disputes followed byrecommendation.TASK 1P1. Explain different sources of lawLegal system is a structured mechanism which provides remedies to resolvedisagreements. It have three functions viz. Adjudication, legislation and execution. The judicialfunction involves hearings and issuing decisions for settlement of disagreement. Legislativefunction is about determining rules and legislation that will govern process of adjudication.Execution function has the purpose to ensure that cases are resolved by complying withprescribed laws. English legal system is a centralised legal system in which Parliament has beenempowered to make laws that will be applicable throughout UK. The constitution is partiallywritten for which Acts have been made. The legal system in UK works on doctrine of judicialprecedents. Further, it consists of civil and criminal, public and private, and statutory andcommon law. Effective application of law requires adequate knowledge which can be gainedfrom various sources available. These are divided into two categories viz. Primary andsecondary. A detail of sources have been mentioned below: Primary sources: These include documents, evidence, images etc. which containinformation contained in original form (Besley, 2015). To have knowledge about legalprovisions, the below-mentioned sources can be used: Case law: The decisions passed by courts are presented in the form of reports which areconsidered prime sources of UK law. Facts, issues, evidence, legal principles anddecisions are included in these reports. Every case is decided on the basis of judgement
passed in earlier case. In other words, doctrine of judicial precedents is followed inEnglish legal system. The decisions of higher courts can not be challenged by lowercourts. These are reliable information on which future cases are determined. Legislation: The constitution of UK is partially written which is called as partly writtenand wholly un-codified. Acts have been passed for written portion which extend to wholeUK. The laws are called legislation which are enacted by UK Parliament as it hassupreme authority. Further, these are above all other sources and no questions can beraised for its applicability (Bishara and Westermann‐Behaylo, 2012.). Secondary sources: The information that has been interpreted and decoded byresearchers, scholars and authors are included in these sources. These are as follows: Legal encyclopaedias: Halsbury's laws of England and Wales is the popular and majorlyused as secondary sources. It has been written by or in consultation with experts in thefield of law. Parliamentary publications: These are considered to know the history and backgroundof a particular law that has been enacted. It comprises of command papers, debates ofparliament published in Hansard, papers prepared by both the houses of Parliament. Non-parliamentary publications: The reports and papers prepared by variousdepartments of government and agencies. These are available on official website of eachsuch department and agency.Law commission: It is an independent commission which has been established with aview to oversee laws and make suggestions in the areas of improvement. These arepresented in report which is disclosed to public at large and expertise for their opinions. Law journals: These are academic publication which comprise extensive informationwhich may be specific or general. The language used to write legal provisions is verysimple and intelligible (Buckley, P.J., Burton, F. and Mirza, H. eds., 2016). Textbooks: The interpretation of bare Acts and other original information by authors andscholars are included in this source. These are used by students or a person researching aparticular legal topic.
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