Business Law Assignment - TASK 1 1 P1 Sources of law in UK

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BUSINESS LAW
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Sources of law in UK..............................................................................................................1P2 Role of government in law making........................................................................................3TASK 2............................................................................................................................................4P3 Impact of contract, company and employment law on business............................................4TASK 3............................................................................................................................................5P4 Types of business organisations formed legally.....................................................................5P5 Management and funding of business organisations..............................................................6TASK 4............................................................................................................................................7P6 Legal solutions for resolving business disputes......................................................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONLegal system is a procedure or process for interpreting and enforcing the law. It includesrules, procedures and institutions by which personal and social activities are performed throughlegitimate means. Legal system of a country defines various laws on the basis of which varioussectors are governed. Laws defined in the system are binding on every citizen and brings justiceto each and every one in the country. Derivation of legal system in the country is not one daytask it has evolved over the years on the basis of social environment in the country. Laws in acountry defines various policies and procedures that needs to be complied with to maintainglobal environment in business (Aithal, 2016). Their are several laws in a country that areformed as per requirement of changing environment and these are generated on the basis of pastcases and on the basis of future prospectus. Business is evolving and expanding nationally andinternationally this creates requirement a law that helps in governing businesses. Business law istermed as mix of some science and art in its formation. Business law in UK is introduced to givegrowth to UK economy and helps in operating businesses in more productive manner.In this project report various sources of UK law is defined with elaborating role ofgovernment in law-making. Impact of various other laws such as company, employment andcontract law on businesses is defined with examples. Formation of different type of businessorganisation with their management and funding is described. Range of disputes in organisationand their resolutions is discussed in this project report.TASK 1P1 Sources of law in UKLaw in UK has evolved over a period of time and there are various sources that helps informulating legal system for the country. When sources are considered then their reliability mustbe noticed as they will be applicable on wide rage of public and effect them. In UK Parliament isthe highest authority that gives decision regarding formulation of any law. When laws areapproved by parliament then they become statutory obligation that needs to be complied with byeach person and organisation of the country (Branco and Delgado, 2012). United Kingdomconsists of four countries that are England, Scotland, Wales and Northern Ireland. Lawsformulated by parliament may or may not implemented on overall country. Their are varioussources of law in UK which are as follows-1
Illustration1: Sources of Law, 2015(Source: Sources of Law, 2015)Legislation:It is referred as statute law and it is the term applied to written laws of thecountry. When any law is passed by parliament then it becomes an Act of Parliament which istermed as legislation. These are the set principles that defined laws in broader manner. Theprincipal legislation in UK is parliament that is based at London. Laws in all the four counties inUK is passed through parliament. Formation of parliament is done with two houses one is Houseof Lords and other one is House of Commons. Legislations are termed as most important sourcein UK Law (Sources of Law,2015).Case Law:These are the primary source of law that forms the doctrine of precedent inthe legal system in the country. Decision of case laws are published in law reports of the countryand any case which sets as benchmark for future cases then it is termed as important source forformulation of laws in UK.2
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