Business Law Assignment - (Solved)

Added on - 05 Oct 2020

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Business Law1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1- Explain the different sources of law.....................................................................................3P2- Explain the role of government in law making...................................................................4TASK 2............................................................................................................................................7P3- Potential impact of law on a business...................................................................................7TASK 3............................................................................................................................................8P4- Different types of business organisation are legally formed................................................8P5- How business organisation is managed and funded...........................................................11TASK 4..........................................................................................................................................11P6- Legal solutions for resolving the disputes..........................................................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................132
INTRODUCTIONBusiness law is a branch of law that deals with business rights, duties and liabilities thatincludes any kind of business transactions related to commerce, trade, sales and merchandising.It is also called commercial and corporate law. It deals with new start-ups and also issues arise inexisting industry with public, other organisation and government. Business law is a branch ofcivil law that includes public as well as private law. Commercial law regulates corporatecontracts, hiring practices, and the manufacture and sale of consumer goods. This reportdescribes the Company “Pegasus” and its related legal system. It is also described the divisionand sources of law in UK and problem associated with UK system.TASK 1P1- Explain the different sources of law.Legal System in UKThe United Kingdom legal system consists of 3 systems: England and Wales (Welsh lawor English law), Scotland (Scots law) and Northern Ireland (Northern Ireland law). They form 3distinct legal power each of them having their personal court and legal profession. The UK hasno written constitution it means there is no single written document that defines the right ofindividuals and how government should act.1.Statues Legislation:Statue is a formal written legislation of legislative authority thatregulate city, state or country. This legislation is direct contrast with case law, developfrom decisions of appellate courts which based on country constitution law.2.DelegatedLegislation:Legislation law is created by legislative assembly. The principallegislature is UK parliament, which is in London. It consists of two types first is House ofcommons and second one is House of lords. In House of common exist 650 Parliamentmembers. Each member represents a geographic constituency, whose electors vote using“first-pass-the-post” system (Harner and Rhee, 2014).3.Common Law:The common law is important source of key legal principles. The legalsystem of England and Wales is common law one, so the decisions of senior appellantcourts become part of law (Cleaveland, Dutcher and Epps, 2015). These are the commonlaw of UK which industries and organisations has to follow to deal with situations andcontradiction within an industry.3
4.European Union Law:The UK is a member of European Union (EU), which means theEuropean Union law take superior power over UK law. The legal order of Europeantreaties:The Treaty on European Union 1957The Single on European Act 1986The Treaty on European Union (Maastricht Treaty)P2- Explain the role of government in law makingLaws are the main source of legal system and government plays a key role in lawmaking. Many government powers have been delegated to the devolved institutions in Scotland,Wales and Northern Ireland, only the UK government can speak on behalf of the UK andrepresents us abroad (Macaulay, 2018).Presenting agenda to thegovernment:Government analyses the issues which occur incountry. According to that legislation laws are changed. The executive and judicial authorityanalyses issues in UK legal system.Selecting and considering theagenda to be addressed:The government present theproposal to lower level legal bodies. If proposal was approved by these bodies then it convertsinto bill which is further required to present before the parliament.Carry forward the proposalafter getting approved by cabinet ministers:After all thediscussion the proposal is passed to cabinet minister then ministers take a overview of proposaland passed it.Scrutinization and billconsideration by parliament:It is the duty of government todiscuss all the key roles and information related to bill in parliament (Carlin, 2015). In this all theinformation is provided such as why this bill is formulated what is the use and need of law andalso the rule in rules by government.Parliamentary stages:Generally the bill was passed by parliament but in some cases thebill goes through some stages that is mentioned below:First reading- The bill announced formally. In this stage bill is not printed and no debate canoccur.Second reading-In this stage the principle of bill is discussed and debate occurs. TheMP's seek to bring specific features of bill.4
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