International business laws PDF
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Added on 2021-02-19
International business laws PDF
Added on 2021-02-19
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Business Law
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3TASK 2............................................................................................................................................6TASK 3............................................................................................................................................7TASK 4 .........................................................................................................................................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12
INTRODUCTIONBusiness law is a part of whole legal system in a country implemented for regulating thematters of commercial nature. It is also known as commercial law. The main motive of enactingthese statutes are to provide a legal support in carrying business activities lawfully (Clarkson,Miller and Cross, 2014). This provide confidence in general public to make contracts withorganizations for a mutual transactions. This report is exhibits main principle of English legalsystem, evaluation of the effectiveness of system, bill passing procedure, sources of UK lawhave been included. Apart from this, difference between employed and self-employed has beendescribed with the use of a real case. Along with this, different types of organizations by puttingfocus on registered company and various methods of dispute resolutions are also covered in thisreport. TASK 1English legal system is old and wide in scope which has its individual courts andjudiciary. There are different kinds of laws exist in this system. It still follows traditionalmethods to a major extent. It has taken as a foundation in building legal systems of differentcountries. Also, it has evolved in past decades by undergoing number of reforms. UK followsEnglish legal system which has implemented statues for governing the acts of citizens living thecountry. There are courts and tribunals which can be approached for seeking justice in case anybreach or contravention has been made. The main principle on which UK legal system works is “Parliament is sovereign”. Thisprinciple gives the highest authority to the Parliament to make, repel or modify any existing aswell as new law. The courts can not deny to follow the law passed by the Parliament. In otherwords, it has the supremacy to decided which should be implemented or not and every courtirrespective of its jurisdiction has the binding. Courts can not supersede decision of theParliament (Craig, 2018). Furthermore, Parliament can not pass any law which can not bechanged by future Parliament. English system has underwent reforms in order to transform it.Other countries in the world which were lagging behind English legal system have made hugemodification in their legal system in order to make it effective as per the changes taking place inthe business world. However, changes incorporated in English legal system are sufficient to forma co-ordination with the advancement that has taken place in the past. For example, UK still have
the same Companies Act, 2006 whereas other countries have altered their statutes regardingcompany a long time back. This shows the inefficiency of the English Legal system. Hence, itrequires some more amendments to reduce the loopholes which will further mitigate incidents oflegal consequences. The system has a fixed process for passing a bill which is divided into stages, the same isprovided below: First reading- This is the initial step of the whole process in which bill is introduced inthe house in a draft form. Second reading- This stage is concerned with taking votes by both the houses of theParliament. A discussion or debate is held between them for making changes in the draft billbefore finalisation (Bill passing procedure UK, 2019). Committee stage- A standing committee is constituted by the Parliament which isresponsible for reviewing the draft bill and give their suggestions which can improve the bill.This committee is dissolved after the recommendation is provided. Reporting stage- The recommendations of the committee is prepared in a report formwhich is sent to the House of Lords for taking their advices. Third reading- By this stage, it is assumed that all the changes have been made hence, nochanges can be made further. But more amendments can be made with the consent of both thehouses. Royal assent- This is the last stage in which the assent in the form of signature of thequeen is received to certify that bill has been passed and will be enacted as a law.
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