Sources and Impacts of Business Law on Local Business in UK

This report discusses the different sources of UK law, including legislation, case law, European law, and the European Convention of Human Rights. It also covers the role of government in law-making, the impacts of company, employment, and contract law on local businesses, and the application of statutory and common law in justice courts. The report includes examples of relevant cases and legislation.

Case law
It provides the most comprehensive set of legal material in turn makes
possible to have deeper information. The effective processing which gives higher extent of
relevant & reliable information so that relevant information by developing course of
action.
European Law
All EU laws play significant role in making awareness regarding different
aspects so that proper economic development can be obtained. From the evaluation it can
be said that after Brexit it is less effective in UK.
European convention of Human rights
The European convention of human rights is international convention
which is imposed to protect human & political freedom. It has made few rules and
regulation which need to be taken into consideration for having smooth functioning in
sector.
Role of government in law-making in statutory
Government plays significant role in law making which contribute in
ensuring smooth functioning. Once new bill is passed which must be
agreed by both house of parliament and receive royal assent before go in
UK (Vladimirovich, and Anvarovich, 2021). In this first & second reading
is exerted by debating & votings. The government has the majority and
then bill is passed to house of lords. With the contribution of the
government law is made and proper adherence is ensured.
Statutory and common law is applied in the justice courts
by taking decision of the higher courts. The common and statutory law is
applied by following the different stages which are as follows:
First reading
It is the formality stage here the bill name is read in the
chamber which aids to gives the introduction about this.
Second reading
In the main debate is conducted by focusing on the key
areas of the bill. In this specific stage the areas which require changes are
highlighted which does not comprise divisions at this step (Besson and
Martí, 2018).
Committee stage
The particular stage involves detailing suggested modifications so that
members decide that whether the mentioned changes are crucial or not. It
involves no time limit which enable to take duration for proceeding.
Report stage
It is considered to be making further changes in order to
have relevant law. In this further votes are conducted to analyses changes.
It leads to have relevant information that decided course of action are
appropriate for accomplishing purpose of imposing law.
Third reading
It focuses on eliminating any loopholes with having final
chance of amendments. It leads to formulate relevant law.
Consideration for amendments
if there are any changes made by the lords then sent to
common law for ensuring that it will be accepted or rejected (Saganek,
2018). It can be completed by having number of process which is referred
as ping pong procedure.
Royal assent
INTRODUCTION
Business Law is associated with having body law which
governs firm and commerce so that complying with issued rule and
regulation can become possible. In the current era, it has become essential
to comply with imposed laws so that competitiveness in the sector can be
derived. The current report is based on OMPEG is a voluntary
organization that provide an insight into the UK legal system. Present
report will highlight different sources of law, role of government in law
making and how statutory & common law is applied in justice courts. It
will include impact of company, employment and contract law on the local
business along with example.
Different sources of law
There are different sources of UK law which aids in obtaining depth
insights regarding the highlighted subject matter. There are basically
primary & secondary sources which aids in giving obtaining deeper
information so that business can effective comply with these. These
are as follows:
Legislation
There are number of legislation which involves
primary & secondary. The primary legislation involves the act of
parliament or Statutes and secondary comprises statutory instruments
(Cisko, 2018). These are passed by the UK parliament which allow
people to get depth insights to make aware of their responsibilities.
Impacts of company, employment and contract law on local business
In order to have smooth functioning it becomes essential to have significant
process by complying with company, employment and contract law. It
becomes crucial for the organization to have effective activities so that better
outcomes can be obtained.
Company law is body of governing rights, legislation and
conducting business actions. It becomes essential for the organization to
coordinate with prevailing situations so that effective outcome can be
obtained (Kurcz and Paizis, 2019). In absence of this, there are several
adverse impact on company can be derived. Case- O Neill v Phillips is one of
the crucial example in which he has the will to break with the convention that
has large impact on UK law due its unfair prejudice. The reason behind it is
to affect efforts to restrict the tort liability which has adverse impact on
functioning. The particular issue that has been found is s transferring of
shares. On the basis of this it can be specified that these have adversely
affected negatively its functioning. In this judgement has been provided that
Mr O'Neill has not agreed to transfer share of the company which has been
identified as unfair and said as legitimate expectation.
Employment law is highly required to pay attention on
having smooth processing in the business by having relevant application of
rules like equality diversity, fair remuneration, working hours, etc. (de
Flaming, 2021). Employment law provides crucial benefits to the company to
focus on having benefits like positive working culture, good employee
relation, etc. Case law- Taff t vale railway v Amalagted society of railway
servants is one of the crucial example that are need to be taken into
consideration. It is concerned with the strike conducted by the railway
servants which has due to lack of fair pay. In this company has faced adverse
impact due to strike of the employees which has been sued for the damaged.
In these employees has broken the contract has been identified later.
The contract act is the one which governs the business and regulates the
binding agreement on the accomplishment of all the agreement relating to the
successful accomplishment of the objective of contract. The contract is the
mutual and written agreement of two or more parties wherein they agree on
some common points and accomplish it. The contract act guides the
companies that how the terms and condition are being prepared and in case
these are not complied then what actions can be taken against the default
party. For example, the case of Printing and numerical registering co v.
Sampson 1875, was an example of contract act which stated that the
company sued Sampson for breaching the patent agreement. This was also a
contract of patent and in this case, Sampson were in contract to sell all future
patent rights to the company. But in against of this Sampson used the
information covered for his own business and its profitability.
REFERENCES
Besson, S. and Martí, J. L., 2018. Legitimate actors of international law-making: towards a
theory of international democratic representation. Jurisprudence. 9(3).
pp.504-540.
Cherry, M. A., 2017. The sharing economy and the edges of contract law: Comparing US and
UK Approaches. Geo. Wash. L. Rev., 85, p.1804.
Cisko, L., 2018. Hierarchy of Application of Sources of Law in Private Law Codes–
Considerations of the Use of Analogy de Lege Ferenda. Вісник
Національної академії правових наук України. (25,№ 3). pp.222-229.
de Flamingh, J., 2021. Employment law: The primacy of contracts-High Court rules on casual
employment. LSJ: Law Society of NSW Journal. (81). pp.78-79.
Kurcz, B. and Paizis, A., 2019. Company Law, Connecting Factors and the Digital Age–A
New Outlook. European Company and Financial Law Review. 16(4).
pp.434-456.
Saganek, P., 2018. The Theoretical Problem of Sources of International Law. Wroclaw
Review of Law, Administration & Economics. 8(2). pp.12-35.
CONCLUSION
From the above report it can be concluded that business law plays significant
role in affecting the operational practices of UK. The current report has
comprised different sources such as the Legislation, case, European and
convention of Human rights. Present report has comprised role of government
and process of formulating law in UK. This involves first & second reading,
committee, report, third reading, consideration for amendments and royal
assent. In absence of specified law such as company, employment and
contract law organizations can get adversely affected.