Potential impact of law on a business
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Added on 2021-01-03
Potential impact of law on a business
Added on 2021-01-03
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Business Law
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Nature of legal system.................................................................................................................1TASK 2............................................................................................................................................3Potential impact of law on a business.........................................................................................3TASK 3............................................................................................................................................5Formation of different types of business organisation................................................................5TASK 4............................................................................................................................................5Legal solutions to Kango for resolving its key areas of disputes................................................5CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6.........................................................................................................................................................7
INTRODUCTIONBusiness law can be defined as legislation which covers entire laws that specifies abouthow to establish, run and own a business (Frank and Bix, 2017). It mainly covers property law,labour law, employment and income tax law, trusts and estates, pension and benefits,immigration law an so on. In this regard, for formation and running a business, it becomes highlyessential for entrepreneurs to obey such laws (Cotterrell, 2017). The present report is going toexplain legal system and impact of different types of laws on business, that owners need tounderstand for comply. Here, a brief account is also given on some major steps require forsetting up a business. For this purpose, a case scenario is taken where a company named byKango (K) have faced problems in extending its operations. Therefore, to resolve its area ofdisputes, some appropriate legal solutions are also recommended in this report. TASK 1Nature of legal systemLegal system refers to a procedure for interpreting and enforcing laws within a nation.The main purpose of this system is to provide a predictable, systematic as well as orderlymechanism in order to resolve disagreements (Nelken, 2017). For this assistance, legal system ofa country mainly emphasis on three distinct functions that are – legislation, execution andadjudication. In judicial system, a legal system concerns on how to settle down thedisagreements and disputes. While, legislative function determines rules which will governadjudication's process. At last, executive function hereby, is used to ensure that both disputingparties agree to the same and they actually want to settle the disputes (Bales, Bogg and Novitz,2018). As every country has own legal system therefore, in context with UK it doesn't have asingle system. Here, law in Scotland has much influenced by Roman law which is quite differentfrom England's law. However, there is a centralised system as English legal system which iscommon to whole nation through a court structure (Delfino, 2018). In general, this system can bedistinguished into two main laws as – Criminal Law and Civil Law. Here, civil law regulatesrelationship between two bodies or individuals whilst in criminal case, parties include will be anindividual, state or a body (Bayern, 2016). Along with this, criminal law is related with crimethat emphasizes more on serious matters like murder, violence activities, stealing of confidential1
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