Business Law Assignment Solved - (Doc)
Added on 2020-10-05
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BUSINESS LAW
Table of ContentsINTRODUCTION...........................................................................................................................1ACTIVITY 1....................................................................................................................................1P1 Different sources of law..........................................................................................................1P2 Role of government in formation of law................................................................................2M1 Effectiveness of the legal system in terms of recent reforms and development...................4P3 Impact of company, employment and contract law on businesses.........................................4M2 Difference between legislation, regulations and standards to analyse impact on business...5P4 Formation of different type of business organisations...........................................................5P5 Management and funding of business organisation................................................................6M3 Advantages and disadvantage of formation of different type of business organisations......7D2 Critical evaluation of different types of business organisation..............................................8P6 Legal solutions for resolving a range of disputes arises in business......................................9M4 Different sources of legal advice and support for dispute resolution..................................10D3 Effectiveness of legal solutions, legal advice and support for dispute resolution...............10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONA legal system that provides rules to create and enforce social and governmentalinstitutions to regulate different behaviours is termed as law. It is defined as “the science ofjustice” and “the art of justice”. Law is binding rules of conduct meant to enforce justice andprescribed duty or obligation. Derivation of law in the country is largely done from customs orformal enactment by a ruler or legislature. When laws are formed then with them power andauthority of the enactor and associated penalties for failure or refusal to obey is also levied.Requirement of law in a country is because of its multi-pal benefits. As law protects generalsafety and ensures rights of citizens against abuse by other person, organisation or any legal bodyitself. Existence of law is at local, state and national levels and different laws existed to guidevarious situations and for different fields (Allen, 2017). Laws related to business entities in UK are governed by Business law. This law providesa complete guidelines for business organisations to be complied with when transactions are madeto perform various business activities. In this project different sources of laws and role ofgovernment in formation of law is discussed. Together with this impact of company law, contractlaw and employment law on business. Formation of different type of businesses and process ofmanagement and funding of business organisations is discussed in this project. ACTIVITY 1P1 Different sources of lawThe UK constitution is comprised of a variety of sources through which law in thecountry are derived. Parliament is the supreme law making authority of the country. Laws thatare formed by parliament cannot be overruled by any judgement of the court. For smoothfunctioning in the country legal system is formed and designed to pass laws by parliament. Noother individual or authority has power to make law for the country. Various sources of law inUK are Legislating, Common law, European Union Law and Statutes (Besley, 2015). Legislation: Most important pieces of legislation are act of parliament. The law createdby legislature is termed as legislation. Among all the legislature principal body is the UKparliament that is based in London. Parliament consist of two houses one is House of Commonsand other one is House of Lords. Law passed by both the houses are applied throughout thecountry and become an act. 1
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