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Business Law Assignment - Different sources of UK law
Added on -2020-11-23
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Business Law
Table of ContentsINTRODUCTION...........................................................................................................................4ACTIVITY 1....................................................................................................................................4Different sources of UK law.......................................................................................................4Role of government in law making and application of common and statutory laws in justicecourts...........................................................................................................................................5Evaluation of effectiveness of legal system in context of recent reforms and development......6Illustration of impact of company, employment and contract law upon business......................6Difference between legislation, regulations and standards.........................................................8Critical evaluation of legal system and law................................................................................8ACTIVITY 2....................................................................................................................................9Different types of business organizations that are formed legally..............................................9Management and funding..........................................................................................................10Pros and cons of various types of business...............................................................................11REFERENCES..............................................................................................................................13.......................................................................................................................................................14
INTRODUCTIONBusiness law encompasses law regulating commercial transactions, agency, company,bankruptcy and contracts. It is also known as commercial law or mercantile law. Everyorganization conducts business activities which must be legal and comply with variousprovisions of act that is applied to it (Alvarez, 2016). The report covers sources of law in UK,role of government in law making, application of statutory and common law and impact ofcompany, employment and contract law upon business. Along with this, differentiation betweenlegislation, regulations and standards, different types of business organizations together withtheir management and funding. Lastly, various legal solutions with recommendation ofappropriate solution. ACTIVITY 1Different sources of UK lawThere are sources through which laws that are applicable in UK can be understood. Theseare as follows: Primary sources: These are the means through which and first hand information can begathered. These includes: Case law: These are the decisions passed by courts. These are prepared in a report form and isone of the basic sources of UK law. These contain facts, issues, judgements and principles onwhich decision is made. Further, courts follow doctrine of judicial precedents, which means thatdecisions of current and previous cases are use for future decisions. Legislation: Parliament of UK has enacted various laws that are required to be followed everycitizen. Legislation are superior and can not be challenged in courts. UK constitution can be usedas a source (Bamberger, Meshoulam and Biron, 2014). Secondary Sources: The information that have been used and interpreted earlier areconsidered as secondary sources. It has the following: Legal encyclopaedias: Halsbury's Laws of England and Wales is the genuine source whichcontains law applicable in UK. Further, it is coded in consultation with leading lawyers. It isarranged in alphabetical manner.
Parliamentary publications: To know the history and context of legislation or to understand aarea of law, various publications can be take into account. These include command papers anddebates of House of Commons and House of Lords. Non-parliamentary publications: These are the reports and consultation papers fro governmentdepartments and agencies. Further, one can access such piece of information from official site ofgovernment department or agency. Law commission: An independent body has been constituted in the year 1956 to assess andevaluate existing laws and legal system and make recommendation where amendments arerequired (Barbero and et al., 2014). It is a lengthy process under which opinions and suggestionsof interested parties and public are considered. Law journals: The legal information contain in these journals are exhaustive in nature whichmay be categorised into specific or common area of law. Academic arguments may also be thereto enable practitioners and users of law to have updates and amendments.Textbooks: These are written by authors on legal topics so that students can understood in asimple language. Along with this, case studies are also a part which helps in knowing theapplicability of a particular legal principle. Role of government in law making and application of common and statutory laws in justicecourtsGovernment has a major role in law making process in UK. Further, it has been dividedinto three parts and effective co-ordination is vital. They are the one responsible for legal systemand its management in an effective way. The various roles have been discussed below: Executive role: Government has the responsibility for administration of the state. Thisrole gives authority for execution, enactment and enforcement of law. The core role is toeffective implementation of legislations so provided. Further, this give power to makedecrees and orders necessary for enforcing law.Legislative role: The legislative branch of government is divided into two houses viz.House of Lords and House of Commons (Bhatnagar, 2016). They have a role to draftbills in order to get royal assent for its applicability as Acts. Further, amendments canalso be made by them to remove loopholes of various laws. Judicial role: This role is about interpretation of various legislations and constitution.Further, appointments of judges and judicial members are made by Queen or it can be
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