Business Law InTRODUCTION 3 MAIN BODY3
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Added on 2020-10-22
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BUSINESS LAW INTRODUCTION 3 MAIN BODY3 Learning Outcome 1 3 P1 Concept related to different Sources of Law 3 P2 Role of government in law marking and the application of statuary and common law in justice courts5 Learning Outcome 2 5 P3 Illustration of company, employment and contract law and its impact on the business 5 D1 Critical Evaluation of Legal system and Law 6 Learning Outcome 3 7 P4 Exploring the legal formation of various types of business organization. 7 P5 In
Business Law InTRODUCTION 3 MAIN BODY3
Added on 2020-10-22
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Table of ContentsINTRODUCTION................................................................................................................................3MAIN BODY.......................................................................................................................................3Learning Outcome 1.............................................................................................................................3P1 Concept related to different Sources of Law...............................................................................3P2 Role of government in law marking and the application of statuary and common law in justicecourts................................................................................................................................................5Learning Outcome 2.............................................................................................................................5P3 Illustration of company, employment and contract law and its impact on the business.............5D1 Critical Evaluation of Legal system and Law............................................................................6Learning Outcome 3.............................................................................................................................7P4 Exploring the legal formation of various types of business organization. .................................7P5 In what manner the business organisations are managed and funded.........................................8D2 Critical Evaluation of types of business organisations...............................................................8Learning Outcome 4.............................................................................................................................9P6 Legal solutions to resolve disputes and ways to obtain legal support and advice.......................9D3 Effectiveness of legal advice, solutions and support to resolve the dispute.............................10CONCLUSION..................................................................................................................................10REFERENCES...................................................................................................................................11
INTRODUCTIONBusiness Law is also known as Commercial Law, which is defined as the body of lawgoverning all the activities undertaken in relation with the trade and commerce. Business Law isassociated with the formulation and implementation of effective and sound governing rules,regulations and acts pertaining to all the trading and commercial business activities. With the helpof business law, company is able to determine what are the procedural aspects of formation andstarting of new business entity. The present report is based on a London based law firm named asGlobal Solicitors which provides legal solutions to all the dispute and employment related cases andlaws. This report will discuss about the different sources of law along with recent reforms anddevelopments taking place in legal system (Miller and Jentz, 2017). Also, explanation aboutcompany, employment and contract law will be provided. How legislation, regulations andstandards differentiates will be assess in report. Further, types of business organisations on legalbasis and its advantages and disadvantages will be included in report. At last recommendationrelated to the disputes will be provided.MAIN BODYLearning Outcome 1P1 Concept related to different Sources of LawSources of Law are defined as body of law which are considered as the origins of lawscontaining all the rules, regulations and acts which are applicable, binding or provides governingauthority to all the states (Beatty Samuelson and Abril, 2018). With the help of sources of law, statesare enabled to govern or control all its territory and business taking place within that territories. Different types of Sources of Law are as follows:European Law – It has been part of Sources of Law from 1973, when UK became memberof the then called European Economic Community. European Law consists of different types ofsources which are as follows:The treaties – The main objectives of treaties is to impose legal obligations on all themember states including different types of treaties. The legal obligations formulated undertreaties are enforceable directly by the individual citizens irrespective of legislative actiontaken by the member states for implementing them. These obligations are related to the factof providing equal treatment in case of employment to both the men as well as women(ADAMS, 2016). Regulations – The term regulation are basically framed with intention of bringing
uniformity of law by imposing it throughout the community. After being issued, theseregulations creates immediate effect on all the member states.Directives – It is the considered as the one of the most important source of law among allthe European community. It is applied to all the member states with the aim of bringing inharmonisation of law by making it similar between all the member states and not identicalone. Directives contain some aims which are required to be achieved by all the memberstates by implementing it in as per their choice and methodology. Decisions -The term Decisions provides authority by issuing it to the party either to dosomething or preventing from doing something. Decisions taken affects only a particularmember states, individual or company (ADAMS, 2016). Parliament – The Parliament has authority to create a new law by passing of a bill throughdifferent processes for getting it approved. The new bill containing all the requisites for makingchanges are contained in it. This new bill having all material issues are processed in the Houseof Commons for its introduction and first reading which the first stage in formulation of new actis. Discussion related to new bill are made and is forwarded to the House of Lords for furtherdiscussion (Cameron, 2017). After first reading is completed, bill is under second reading forseeking majority voting. In the stage of Third reading, any grammatical changes are made in theHouse of Commons and significant changes takes place in the House of Lords. After gettingapproval from both the house of Parliament, Royal assent is required to be taken for making ofBill as an Act of Parliament. Delegated Legislation – These are considered as the secondary or indirect part of legislationwhich are framed outside the Parliament by the regulatory bodies (ADAMS, 2016). Theseregulatory bodies are given legislative power by the Act of Parliament for exercising of suchdelegated legislation. It has four types:Orders in council – At the time of national emergency, law making powers are beengranted to the Privy council by the Emergency Powers Acts, 1939 and 1984.Statutory Instruments – Helps in execution of general principles of the policy created byGovernment Departments which has been set out in the Act of Parliament. It ensuresproviding safeguard to all the users using credit facilities.Regulations for implementation of Law from the European Union – Ministers andGovernment departments are given powers to implement all the directives and treatyprovisions as per the European Communities Act, 1972, s 2. Bye laws – Helps in regulating all the facilities as provided by bodies such as LondonUnderground and Network Rail. Bye laws are made by local authorities along with other
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