Business Law: Sources, Role of Government, and Impact on Business

UNIT 7: BUSINESS
LAW

Table of Contents
PART-1............................................................................................................................................3
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
P1 Different sources of law and role of government in law making:..........................................3
P2 role of government in law making along with statutory and common laws, their application
in justice courts:...........................................................................................................................4
P3 Impact of contract law, company law, employment laws on business:..................................5
CONCLUSION................................................................................................................................6
PART- 2...........................................................................................................................................7
INTRODUCTION...........................................................................................................................7
MAIN BODY...................................................................................................................................7
Employment law..........................................................................................................................7
Different types of organization legally formed with managed and funded.................................8
Business organization managed and funded................................................................................9
Legal solution to each case problems with justification and alternative resolution: ................10
CASE 1......................................................................................................................................10
CASE 2......................................................................................................................................11
CASE 3 .....................................................................................................................................12
RECOMMENDATION.................................................................................................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

PART-1
INTRODUCTION
Business laws refer to all those legislations which are laid down in order to govern
businesses in legal manner (Goto, 2018) The report would be discussing different sources of law,
role of government in making it. Then legal system in term of most recent reforms would be
evaluated. At the end a critical evaluation of legal system and law along with some evidence
would be presented in order to bring deeper understanding of business law.
MAIN BODY
P1 Different sources of law and role of government in law making:
Legal system can be defined as a system which is installed to bring order in various
practises take place in certain nation. The main purpose of legal system is to eradicate all illegal
practises which may impact interests of different stakeholders in adverse manner. There are
number of sources of law which are driving the notions and convictions in attempt to fabricate
laws.
European union law, has been considered one of the biggest source since the nation has been a
part of EU for so long. It was behind the law making of UK. The legitimation of EU somehow
paved the way for legislation of UK to fabricate the laws aligning with them.
European conventions are another factors. Since UK laws are supposed to be the followers of
EU conventions. There have been number of conventions took place such as conventions on
human rights so it becomes essential for UK to make their laws aligning with them. Like The
consumer Rights Act 2015 is heavily driven by it (Lee, 2017)
Case laws, since the business laws in the nation are having their great and quite long history so it
would be a fair judgement saying that Case laws have give substantial shape to the national
business laws. Case laws are the judgements or guidance driven by some superiors or
predecessors.
Values of the nation as also very much important driver. The biggest factor is the
inclination of a nation. In UK the law making is being carried out by their government which is
federal in nature so it is inevitable for them to eradicate the impact of culture. In UK the business
culture has always been very much professional so they are obliged to have some additions in
laws driven by their culture.

P2 role of government in law making along with statutory and common laws, their application in
justice courts:
UK is having a parliamentary system so the role of government in making law is very
much high. It goes from different stages such as Drafting the bill, discussing it, approval by both
houses, permitted by monarch then if needed some amendments would be imparted.
 The government is the only party which introduces bill in parliament. For instance-
companies act 2006 was firstly introduced in the parliament (Spotorno, 2018)
 Then the bill is discussed by different leaders in order to make comprehensive changes.
Range of parliamentary meetings are held for fulfilment of the aim.
 Then bill is passed form both houses and extended to the monarchy for their final
permission.
 If any changes are needed then amendments are carried out for instance- the company act
1985 was surpassed by Companies act 2006.
 if there is any issue then there is a court structure which consists queen's bench, chancery
division, tribunals where the issues can be raised.
Effectiveness of legal systems in term of recent reforms and some developments:
For making the legal system effective there are range of reforms made in last couple of
years. Specifically after Brexit. The UK government is prone to replace all EU exemptions so
can bring better competitiveness in the field (Yidana, 2021)
Some changes were made in order to reform the present competition laws of UK. In may
2022 these changes were imparted so can hike the final outcomes. Earlier there were some
“Vertical Agreements” it was impacting the business so for making local business thrived these
changes were imparted.
“Removal of retail parity obligation” was another great change instilled in last couple
of years. It was intended to fetch better practises in term of indirect sales channels. There some
legal issues which were hindering the way of free trade so this change has made great impact.
Some changes were also made in VABEO, Vertical Agreements Blocks Exemption
Regulation. It was expired in the year 2022. so the changes were intended to bring higher level of
free trade practise (Sun, 2021)
Companies act 2006 which surpassed companies act 1985 can be seen as one of the most
affluent change or reform in the business low related practises in UK. The nation had need to