Business Law: Sources of Law, Role of Government, Impact on Business Organizations, and Management and Funding

BUSINESS LAW

Table of Contents
INTRODUCTION ..........................................................................................................................4
TASK ..............................................................................................................................................4
P1 Explain 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 courts.........................................................................................................5
M1 Evaluate the effectiveness of the legal system 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...................................................................................................7
M2 Differentiate between legislation, regulations and standards to analyse potential impacts
upon business..............................................................................................................................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 judgements................................8
P4 Explore how different types of business organisations are legally formed...........................8
P5 Explain how business organisations are managed and funded with advantages or
disadvantage of an organization..................................................................................................9
P6 Recommend legal solutions for resolving a range of disputes using examples to
demonstrate how a party might obtain legal advice and support. ............................................11
M4 Compare and contrast different sources of legal advice and support for dispute resolution.
...................................................................................................................................................12
CONCLUSION .............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Business laws are those set of legislation formed in order to set up business organization within
the legal framework of a country. These laws deals with various commercial and corporate
activities. Business laws are also studied with various laws used in an organization like contract,
company and employment law. Also they are helps in advancing business process making goals
and objectives achieved in more effective manner. Further these laws helps an organization to
perform its function with more efficiency. Business law has tendency to impact business growth
which makes business operations done in effective manner. In this file various sources of law has
been explained with the role of government in law making. Then various laws in relation to
business organization is covered wit different business organizations. Alternate dispute
resolution is explained in relation to provided case scenarios. Further legal solution and advice is
discussed.
TASK
P1 Explain different sources of law
Law are those legislation that has been formed to deal with various aspects existing
within society. They are responsible for providing legal aspect with penalties helping in
controlling crime of both civil and criminal nature. Laws are formed through different sources
based upon knowledge possessed in relation to identifying criminal activities and its nature. Thee
sources are of two types that is primary and secondary. Further it has been explained as follows:
Primary sources: These are the sources which holds basic knowledge about legal
perspectives of particular activity(Trad and Kalpić, 2017). Such sources provides first hand
information upon law required to be formed for well being of society. Further sources include
within has been explained as follows:
 Legislations: Legislation are those bill which is presented within parliament for becoming
permanent law applicable over a country. It is a important source making laws formed
through three stage reading process in United Kingdom.
 Case law: This is an important source as it helps in moulding laws as per the situation
existing within society. As per the source judgement is passed by judges in order to
procure justice in its original form.