Business Law: Sources, Impact, and Formation of Business Organizations

Business Law
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Table of Contents
INTRODUCTION...........................................................................................................................3
LO1..................................................................................................................................................3
P1 different sources of law..........................................................................................................3
P2 role of government in lawmaking and how statutory and common law is applied in the
justice courts................................................................................................................................4
LO 2.................................................................................................................................................5
P3 How company, employment and contract law impact on business........................................5
LO 3.................................................................................................................................................5
P4 Explain how different types of business organisation are legally formed..............................5
P5 How business organisation are funded and managed.............................................................6
LO 4.................................................................................................................................................6
P6 Legal solution for resolving range of disputes .....................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7
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INTRODUCTION
In every nation there are different types of rules and regulations which needs to be followed. The
rule and legislation is set up by government to manage and regulate business, company etc. They
need to be governed and their behaviour has to be analyzed. Business law refer to evaluating
company way of conduct, governing and regulating their operations in effective way.
Government plays crucial role in making of law. They govern and regulate various business
bodies as well. (Staub, 2019).
In this report it will be described about different sources of law. Also, it will be discussed about
role of government in law making and how it is applied in statutory law. Besides that, it will be
explained on how company, employment law impact on business. Moreover, how different types
of organization are legally formed and how business are managed and funded.
LO1
P1 different sources of law
The business law generally define the legislation that are appropriate for element of
enterprise. It is related to the organization legislation which comprises of different areas. In
additional, there are many enterprise which provide the law as one of prime concept at the time
of doing any management program (Thirlway, 2019). According to the concept of basic law, it
has performed the major function to maintain their overall structure of community, society with
some enlisted behaviors. Moreover, it can be identified the level of legal rule and regulation
which automatically violation that measured or identified by court law, justice. There are
different way to divide source of law.
Constitutional Law:
It is the first source of law which is known as constitutional legislation. Usually, it
applicable in every state. The constitution has been increased the legal system which always
focused on the issues or problem of local concern. The purpose of federal as well as state
constitution is to maintain or regulate the government action. In order to protect the individual
through constitution but they do not have follow themselves (Banks, Hendrix and Kyckelhahn,
2016). Moreover, this type of state constitution is written with words in particular subject to
more than one interpretation. There are various exceptions to other constitution which will
protect or secure.
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