Analysis of Business and Law Studies
Added on 2020-11-12
17 Pages6080 Words82 Views
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Business Law
Table of ContentsINTRODUCTION...........................................................................................................................1SECTION 1......................................................................................................................................1TASK 1...................................................................................................................................1'Parliament sovereignty' and various sources of law..............................................................1Role of government in making law and process of making of law........................................2Impact of company, employment and contract law upon business........................................4TASK 2...................................................................................................................................6Different types of business organisations and their legal formations.....................................6Advantages and disadvantages of formation of different types of business organisations....7SECTION 2......................................................................................................................................9Case 1.....................................................................................................................................9Case 2...................................................................................................................................10CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
INTRODUCTIONBusiness law is the law which contains all the rights, obligations and duties of variousbusinesses, corporate, companies and other business structures. It contains all the rules for thecompanies including rule to start any business, purchase, sale, manage or close any businessorganisation. Each corporate is bound to follow the rules and guidelines provided by the businesslaw of the country. The present study includes description of the statement parliamentsovereignty and various sources of law. In also shows the role of government in making lawalong with the process of making law in the parliament. Further, it also includes a briefdescription of types of business structure along with their formation and management process.The present assignment also provides legal solutions of some business problems.SECTION 1TASK 1'Parliament sovereignty' and various sources of lawSovereigntyIn general term, sovereignty can be defined as a supreme and uncontrollable power whichmakes a person or an entity independent for taking any decisions. In political term, an authorityor an entity is said to be at sovereign stage when it gets a supreme and dominating power orposition with the help of which it gets an authority to govern all the state of the country andtaking decision for them independently. In UK, Constitution has provides sovereignty power to the parliament. It has a power tomake laws for the country(Parliamentary Sovereignty: Definition, Origin & Significance, 2019).Parliament have right to innovate any rules regulations of the country whenever it is required.Constitution has included a statement that no court have power to override any law or declaringany law or rule made by parliament to be invalid in any term. Further, Parliament is not bound byany law of any country. Non compliance of any law made by the parliament by any person of thecountry shall be punishable as per the laws of country. The parliament has got supreme power inUK, with the help of which it provides life and motion to the legal system of UK. Form theabove analysis, it can be evaluated that the present statement “Parliament Sovereignty” isabsolutely true. Sources of law1
In UK, there are numerous sources through which laws are being framed in the country.Some of the major sources of law are as under:Statutes: Statutes are the main source of law. These are the written legal documentwhich provides guidelines of making any law (Boyle, 2017). Statues includes rules andlegislation which are to be followed while making any law. Civil laws and criminal lawsare the main sources of statues.Statutes are combination of primary and delegatedsources of law. Common law: Common laws are laws which are to be followed by the jurisdictionalauthorities of the country. These are the justice provided by higher jurisdictions, whichare termed as common laws in UK. The common laws are made on the basis of variouslaws and statutes of the country as on the basis of these elements, the higher judicialauthorities provides their justice.Lower divisional courts are bound to follow commonlaws while providing any justice of any case. They are not authorized to overrule thecommon laws. Main sources of common laws are justice of higher jurisdictional courts.Equity law: Equity laws are framed in UK in order to maintain equality in the country.These laws lead to eliminate unlawful discrimination in the country. Equity laws areframed on the basis of trust, faiths, and anti discrimination standards of the country. Withthe help of equity law, government gets success in eliminating discrimination on the basisof race, cast, age, gender, etc. within the whole region (Gee and Young, 2016) Equabilityand trust standards of the country are the main sources of equity law in UK.Role of government in making law and process of making of lawRole of government in making lawThe law making process begins with the government of country. Therefore, governmenthave an important role in the law making process. For making any law, a bill is needed to bepresent in the parliament containing the details of ant new law or changes required in anyexisting law. Constitution gas provided the power of presenting the bill in front of parliament tothe various ministers of the government (Bishop, 2015). They analyse the legal situations in thecountry and determines the need of any law or changes in any law. Further, they prepare the billaccording to the need of country and present it in front of government through which the lawmaking process begins. In this regard, it can be evaluated that government plays a vital role inthe law making process.2
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