Sample Assignment | Business Law

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BUSINESS LAW
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Sources of Various Laws......................................................................................................1P2. Role of Government in law-making and application of statutory and common law in thejustice courts................................................................................................................................3TASK 2............................................................................................................................................4P3 employment and contract law potential impacts upon business..........................................4TASK 3............................................................................................................................................5P5 justifications for the use of appropriate legal solutions........................................................7TASK 4............................................................................................................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONBusiness law is very essential for ensuring ethical practices in activities which areinvolved in industries. Therefore, it is very important to understand every rules and regulations tomake an environment suitable for working. These laws are present to protect the basic rights ofemployee as well as employer and also reduces dispute between various private parties who areinterested to establish formal relation. This report includes description of various sources of lawalong with that the implication of statutory and common law which are applied in many justicecourts. In addition, the potential impact of employment and contract law has been discussed withleads to affect various business activities (Allen and Kraakman, 2016). Many legal solutions areprovided for solving several problems such as termination of contract and providing rescue fromliquidation and insolvency which are considered as threatening for every company. Numerouslegal solutions are recommended that are totally dependent upon legal system of a different legalframework.TASK 1P1. Sources of Various LawsSources are the origin point from where various kinds of laws have been derived and areimplemented in practical scenario. It facilitates the government in governing particular territorysuccessfully. These sources are referred as sovereign or seat of power from where these laws getit validity. There are mainly two types of sources which are international and national sourcesthat provides sources for statutory and common law.International Sources1. TreatiesIn a country, the government can sign several international conventions and also treaties.However, they are considered to be effective when they are implied and practice very well.Several conventions are considered to be in force when all the required signatories of themembers are ratified for final text. Any international convention can be included in a statutefrom where statutory laws are derived.2. European Community LawEuropean law is a regulatory body which is formed by various nations of Europe in orderto regulate together in various aspects. It adopts all laws which are considered to be updated on1
time which includes treaties, provisions, directives, regulations, precedents and decisions. Allthe member states provide numerous advantages and they follow all the rules which are relatedto any of the activities which can be related to trading etc.Other sources are known to be national sources which are derived from the country itselfand can be implied as common laws.National Sources1. LegislationIt is considered to the source which is prime for origination of various laws and itincludes many rules which are legally declared by particulate competent authority. It can servemany purposes which can be regularising, authorising, and enabling, proscribing, fund providing,sanctioning, granting or restricting any rule. The parliamentary legislature can frame many newregulations which can be considered as the acts of Parliament an also provides amendments onthe laws which were introduced earlier. The legislature may provide authorisation of powerswhich are associated with the law making processes for a country. The delegated Legislationmay include many statutory instruments, orders in particular councils and many by laws (Allen,2017). Most of the powers of a legislature can be restricted by the constitution of a nation. Onlyparliament has the power to legislate through various executives who leads to take decision onall programmers which are related to legislature.2. Case LawAll the judicial precedent can be based on the concept of doctrine of stare decision and itcan be associated with many jurisdictions which are completely based upon the System of CivilLaws. Precedent is regarded as principles which are accumulated and derived from numerousdecisions. Judgements which are passed by judges are very important in many cases which arerecorded and further it becomes significant sources of many laws. The laws which are derived isbasically civil laws but this concept is implied on matters which are related to citizens of acountry. Precedent has an advantageous features which is mainly flexibility and also flexibilitywhich helps any judge for applying the justice rather than being restricted to law. This isregarded as an important source of civil law that provides an advantage for effective handling ofall rules and policies.2
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