Business Law: Sources, Role of Government, Impact on Business, Legal Systems and Different Forms of Business Organizations

Unit 7: Business Law

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK ..............................................................................................................................................4
P1. Evaluate different sources of law..........................................................................................4
P2 Explain the role of government in law making and how statutory and common law is
applied in the justice of courts....................................................................................................5
M1 Analyse the effectiveness of the legal systems in terms of recent reforms and
developments ..............................................................................................................................6
P3 Using specific examples, illustrate how company, employment and contract law has a
potential impact upon business...................................................................................................6
M2 Analyse the potential impact on business through difference between the legislation,
regulations and standards............................................................................................................7
D1 Provide a coherent and critical evaluation of the legal system and law, with evidence
drawn from a range of different relevant examples to support the judgements. ........................8
PART 2............................................................................................................................................8
P4 Explain how different kinds of business organisations are legally formed...........................8
P5 Explain how business organisation are managed and funded ...............................................9
M3 Analyse the advantages and disadvantages of the formation of different kinds of business
organisation. .............................................................................................................................10
D2 Critically analyse the formation of different kinds of business organisation .....................11
P6 Compare and contrast different sources of legal advice and legal support for the dispute
resolution to make appropriate recommendation to legal solutions. ........................................11
M4 Recommend legal solutions for resolving a range of disputes, using examples to
demonstrate how a party might obtain legal advice and support .............................................12
D3 Critically evaluate the effectiveness of legal solutions, legal advice and legal support for
the dispute resolution. ..............................................................................................................13
CONCLUSION .............................................................................................................................13

REFERENCES..............................................................................................................................14
INTRODUCTION
Business law is the area of law which deals with the protection of an individual and the
organisation. The UK legal system plays significant role in identifying the rights and interest of
the employees and employers. It provides detailed legislation that regulates, governs and
supervise the business activities that take place in order to satisfy the need of the consumers.
Business law covers range of legislation including Company Act of 2006, Employment law and
Contract law etc. The enactment of such legislation brings major reform in the UK legal system.
Employees are considered as the asset of the organisation who contribute their efforts towards
success of the organisation. It is important for the employees and employers to create peaceful
environment and maintain cordial relation between each other to prevent conflict and
misunderstanding among them (Aguilera-Barchet, 2018). The various sources of law includes
International Convention, treaties, customs etc. that helps the Parliament to enact the law for the
society which contributes in the economic growth of the country. This report will discuss the
various sources of law and its impact on the performance of a business. Further, it will cover
various major reforms that has been observed by the English legal system and use of financial
resources that is managed and utilised by the organisation effectively to meet financial
requirement of a business. Also, it will cover the role of Alternative Dispute Resolution
mechanism that provides amicable settlement of the dispute between the parties.
TASK
P1. Evaluate different sources of law.
There are various sources of law that contributes in the economic and legal development of
the nation. It provides structured mechanism which facilitates remedies for resolving
disagreements between the parties (Brown, Liñares-Zegarra and Wilson, 2018). The main
objective of these sources is to secure the fundamental and human right of the individual. The
English system is centralised with power of Parliament that allows them to frame law for
safeguarding the interest of the party. The primary source and secondary sources of law
establishes the legal principles and regulations to implement in the society.
Primary Sources of Law

The primary source of law is identified with the help of International Convention, treaties and
customs that plays crucial role in the UK legal system. It has unique and complex legal structure
that are made to cover all the rights of the individual. In simple words, law is a rules and
regulation that are made to govern the behaviour and conduct of the society so that no one can
violate their right and they can live freely without any danger and harm. It has greater impact on
the society and have legal consequences. Law binds the citizens with certain moral and legal
obligation that is exercised in favour of other individuals. The role of Judicial precedent is also
important and act as a case laws for the inferior court. Law is made with the help of legislative
body and considered as the supreme law of land and executive are responsible for enforcing such
laws in order to maintain harmony and peace in the society. Judiciary is an enforcement body
that addresses the issue of the party and give them legal solution to secure their right to access
justice. The principle of common law is based on law of equity that provides the fair, equal and
just treatment to an individual. However, legislation is further categorised into two parts
including Delegated and Primary legislation. This categorisation is done on the basis of power of
framing laws in which delegated authority is responsible to make law when Parliament is not in
session and to reduce burden of work over them.
Secondary Sources of Law
It includes documents such as Legal Encyclopedia, Journals, Article, Books etc. are the
secondary source of law that is considered as the background resources and evaluated with the
help of primary sources.
P2 Explain the role of government in law making and how statutory and common law is
applied in the justice of courts.
Government are the official authority which is responsible for imposing, regulating,
governing and monitoring the laws to maintain law and order in the society. They are responsible
for coordinating and administering the public service to promote social welfare and justice. Law
is made through extensive discussions and debates to cover all the aspects of human lives and
protection so that their right remains secured (Duval and Furceri, 2018). The Parliamentary body
consists of two Houses including House of Lords and House of Commons that gives consent to
the proposed Bill and introduce among the general public. These allegation brings transparency
in the system and effectively enforceable for the safety of the citizens.
Common law and Statutory laws in the judicial system