Business Law: Sources, Impact, and Types of Organizations

BUSINESS LAW

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Various sources of English law...................................................................................................1
Role of parliament in law making...............................................................................................2
Statutory laws and common laws................................................................................................3
Legal system of UK....................................................................................................................3
TASK 2............................................................................................................................................4
Impact of company, employment and contract law over a business...........................................4
Difference between legislation, regulation and standard with its impact over an organisation..5
Evaluation of legal system of UK...............................................................................................5
TASK 3............................................................................................................................................6
Types of organisation and its formation......................................................................................6
Explain how business organisations are managed and funded...................................................7
Assess the advantages and disadvantages of the formation of different types of business
organisations...............................................................................................................................8
Critical evaluation of various business organisation and its formation......................................9
Recommend appropriate legal solutions...................................................................................10
CONCLUSION..............................................................................................................................12
REFRENCES.................................................................................................................................13

INTRODUCTION
Business laws are that kind of laws which deal with governance over all kind of
commercial organisations which are to be established within the boundaries of these laws. Laws
of these types are also known as commercial laws as they deals with rights and duties of all types
of organisations. Laws of these nature are very variant in nature as they are important for
formation of a company and its smooth functioning. Scope of these laws is to ease down process
of both incorporated and unincorporated organisations of all kind. These kinds of law is of
corporal nature. In the following project concept which is going to be covered is various sources
of law, what role is played by an government or parliament in forming of law. Legal system and
its various aspects. Evolution of laws during course of time. Various kinds of business
organisation its funding, managing with advantage and disadvantage. Impact of contract law,
employment law and company law over various an organisation. Then difference between
legislation, regulation and standard with appropriate example. Then alternate dispute resolution
is going to be explained and its applicability under various situation is going to be analysed from
given cases.
TASK 1
Various sources of English law
Law are that kinds of elements which are necessary for the formation of a country
because they bind people living in it. These are those types of rules and regulations that plays an
very important role in providing safer and better society within a country. These are their to
control crime rate of both civil and criminal nature. Various sources are their which are
important for its formation and these sources are explained below (Bird, 2016).
Common law: They are such types of laws which are their from a very long time in UK.
Laws of this kind has also given authority to judges for forming law if they feel that any king of
regulation passed by parliament is violating any kind of law. Decisions of the court that are
passed by various judges come under a publication which is known as 'legal report'. An legal
report consists of facts, issues and legal principals that has been applied in a case to pass a
judgement. Other kinds of things which are included in it are summary of case and key features
of a particular case. Sources of these kinds are one of the most important source of English law.
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Legislation: It is that kind of regulation which is passed in parliament following an
procedure. These are permanent laws which are to be applied all over the country. Legislation is
divided into two types simple and delegated legislation. This is one of the most important and
concrete form of rules. Delegated legislation is the authority which has been assigned to perform
certain task. Simple legislation means when an authority performs a work by itself.
Law commission: These commission are there which is formed in order to see that what
effect an particular law is having over society. Commissions of this kind is very important from
point of view that a report is submitted by the commission which suggests changes which are to
be made in laws (Hamad, Elbeltagi. and El‐Gohary, 2018).
Law journal: They are important because it helps general public in understanding a
particular law which has been passed by parliament. It is also helps a lawyer in studying of laws
and understanding them in better manner. Journals also contains articles by various lawyers.
Role of parliament in law making
Parliament is one of the most important part of any country and specially in UK it plays
an very important role in formation of laws. It is considered as first authority which are their for
forming laws in UK. A parliament consists of two houses one is house of lords and other is
house of commons. Both these houses are important for passing of an legislation in UK. A law is
presented in the form of draft which is also known as bill. Then discussion is done over this bill
which is passed through voting. In the end royal assent is required for making a bill into a law
for a country. This can be better understood through the process which is explained as follows.
First Reading: In this reading only an draft is presented. This means that no discussion
takes place over draft which is put before the house by committee. Only what is included in the
bill is reeded out (Greenleaf, 2018).
Second Reading: Details of the bill is discussed and debated upon. Then voting is done
for whether bill is to be proceeded or not. For this purpose all the members are used for gaining
support in favour of government that has presented the bill.
Committee Stage: In this the bill is referred to the lower house that is house of commons
for its detail examination. Further amendments if necessary to be done is to be marked at this
stage.
Report stage: Debate is done over those amendments which has been made by the
committee in the bill presented. Then again voting is held for it.
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