Solved Business Law Assignment (Doc)

BUSINESS LAW

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
TASK 1- (LO1 & LO2)...................................................................................................................3
a.) Discussion on meaning of the statement 'Parliament is sovereign' with various sources of
UK laws..................................................................................................................................3
b.) Explaining role of government in the process of law making and applicability of statutory
and common law in the court of justice..................................................................................5
c.) Explanation on company, employment and contract law which has potential impact upon
business with the difference between legislation, regulations and standards.........................7
TASK 2 (LO3).................................................................................................................................9
Nature and formation of different types of business..............................................................9
Difference between incorporated and unincorporated business with references to their
management and funded.......................................................................................................10
Advantages and disadvantages of partnership and company...............................................11
SECTION 2 (LO4)...........................................................................................................................1
CASE 1...................................................................................................................................1
CASE 2...................................................................................................................................2
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
In order to develop better decision and better understanding for operating effective
functions, it is necessary for owners, manager and for other professionals to have basic
knowledge relates to business law (Beatty, Samuelson and Abril, 2018). Thus, this law is also
known as merchandise or commercial law. Present report is developed to provide better
understanding and meaning of the statement “parliament is sovereign” where role of government
in law making process will be explained. Further, information will also be discussed on statutory
and common law which applied in the justice court. Moreover, company, employment and
contract law is also been to explained in this report.
Later, in this report different types of business with difference between unincorporated
and incorporated business will also be discussed with its advantages and disadvantages. Lastly,
legal solutions which relates to business problem will also be provided with appropriate
recommendations.
TASK 1- (LO1 & LO2)
a.) Discussion on meaning of the statement 'Parliament is sovereign' with various sources of UK
laws
Sovereignty is the term which relates to full right and power of governing body over
itself where outsiders will not able to interfere such quality of the legislation. The term has been

considered as substantive which is designed to establish supreme authority. Parliament
sovereignty is a constitution principle in UK which makes them supremely legal authority who is
able to create or end any type of law (Allen and Kraakman, 2016). This is the statement which
states that court will not able to overrule legislation where future parliament cannot be able to
change.
In UK, parliament is said to be a sovereignty because it mainly deals with various types
of principles which makes it a complicated that is entirely a grasped concept. People generally
refers that UK has unwritten constitution which is not true, large part of the constitution has been
written down and much of that law has been passed in the parliament which is known as statue
law. Therefore, parliament sovereignty will be defined with the four tenets which includes:
 Parliament has full authority to crate laws and statutes.
 Court in UK does not have power to declare any type of statue which is invalid
 Current parliament in country is not abided by any law which relates to previous
legislative.
 Any type of law will not be passed by the parliament because of which future body
cannot able to undo.
Thus, Doctrine states that UK parliament is supreme which have unlimited power for creating
and ending any law. It means that no one can set aside the act which is developed by the
parliament. It is the view where sovereignty presents a contradiction, which states that
parliament is the only authority which only limits its own power.
Various sources of UK law:
There are mainly four principles and sources of UK law which include legislation,
common law, European union law and the European Convention on Human rights. It is to be
note that there is no single series of document which contain whole procedures of these laws in
UK.