Assignment on Business Law (DOCS)

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Business Law
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Various Sources of Laws.......................................................................................................1P2 Role of Government...............................................................................................................2M1...............................................................................................................................................3D1................................................................................................................................................3TASK 2............................................................................................................................................3P3 Impact of contract and employment laws on the company....................................................3M2...............................................................................................................................................5TASK 3............................................................................................................................................5P4 Solution to the given case study.............................................................................................5P5 Justification of Solution.........................................................................................................6M3...............................................................................................................................................6TASK 4............................................................................................................................................6P6 Alternative Dispute Resolution..............................................................................................6M4...............................................................................................................................................7D2................................................................................................................................................7CONCLUSION................................................................................................................................7REFERENCES...............................................................................................................................9
INTRODUCTIONBusiness laws are comprehensive form of various statutes which helps in the functioningof trade and commerce in a market. Every country has their own regulations which has to beentertained by organisation complying business in their region. These laws are generallyoccupied by laws related to contract, company, sale of goods, employment, etc. A company hasto obey these laws in order to stay away from unnecessary contingencies. This paper deals withanalysis of various sources of laws in United Kingdom, also it reflects how statutes are framedby the legislation. In the first section of brief advice related to expansion of company has beenasked and in the second one, winding up of companies and termination of employment has beendiscussed. Moreover, methods related to resolution of dispute has also been analysed in thisreport with relevant cases.TASK 1P1 Various Sources of LawsBefore discussing about the laws which has to be followed by an organisation, first of allone should look upon various sources of laws. Laws are such obligations which is enforced bythe governing bodies of state. Usually, there are two types of sources primary and secondary.Constitution, customs, international conventions, treaties, international agreements, etc. areconsidered as primary sources of law. The courts judgement and precedents are secondary ones.Both the sources has their significance, if primary source becomes incapable of assisting information of laws secondary sources are used at that place. Moreover, secondary sourcessometimes end up in the formation of new laws from certain incident or case. (Bagley, C.E.,2010)In the United Kingdom, primary source of law is generated from European laws. Thelegislature is responsible for it enforcement. European Laws are applicable in European Union, agroup of 28 members of state. Laws in these states are regulated by European Commission,which was found under Communities Act 1972. It is a cluster of European Ministers, Councils,Cabinet and many more legal entities. It acts as an implementing body of the Union. EC has beendescribed as executive of the state. European laws are formulated through various treaties,directives and regulations. The courts are secondary source of law. Decision of cases are treatedas base of the formation of new laws.1
Business laws are generally created by treaties. As treaties are the oldest source which issignified as a legal document. Trade and business has been a great part of ancient history so itthey are used in creation of new laws. Treaties are those terms and conditions between twocountries to perform trade or any other legal obligation. It has played an important role increating new laws. Moreover, international conventions also provide guideline in framing newstatutes. The statutes related to business laws are result of these sources.In order to start or expand an organisation it is essential to follow various stepsmentioned under company laws but before that it is evident to know in which sector company isgoing to perform their business. There exists two types of sectors, private and public. A privatesector is comprised of organisation regulate bi individuals unlike in public sector, it is done bythe regional state government. Apart from that to incorporate an organisation it becomes certainto know what type of liability is performed by the company. For that there are two types ofliability in a partnership, limited and unlimited. A limited liability is such in which partners areresponsible for the acts done by them also debts and profits are distributed among them as perthe capital or investment they share. In an unlimited company liability to perform duties arevested in the owner of the company, which means debts and profits are not shared.(Bodie, Z.,Kane, A. and Marcus, A.J., 2014)There are some rules which has to be followed by an organisation to incorporatethemselves under Companies Act 2006. A company must be registered by the Registrar ofCompanies. In order to register the members of an organisation has to form and submit aMemorandum of Association and Article of Association. A MoA is comprised of detailedinformation about capital of company and its shareholder, where as AoA contains, constitutionof a company according to which its members has to perform their duties. Moreover it is consistof the appointment of Directors and their responsibilities.These are the laws which has to followed by an organisation to work as a limitedcompany. This is how business laws are necessary in conducting trade and business in a market.P2 Role of GovernmentGoverning bodies are comprise of the legislature, executive and the courts. Theparliament or legislature job is to frame laws and executive implement those laws. The courts areresponsible for protecting those laws. These legal organisation conclusively regulates lawmaking in any country. In United Kingdom, the laws are governed by parliament whose head is2
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