Business Law: Sources, Role of Government, Impact on Business

Business Law

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Various sources of law................................................................................................................3
P2. Role of government in making law and applicability of common and statutory laws ........4
M1. Evaluate effectiveness of the legal system as per recent reforms .......................................5
TASK 2............................................................................................................................................5
P3. Illustrate how company, employment and contract law has a potential impact upon
business.......................................................................................................................................5
M2. Differentiate between legislation, regulations and standards to analyse potential impact
upon business..............................................................................................................................6
D1. Coherent and critical evaluation of the legal system and law..............................................6
TASK 3............................................................................................................................................6
P4. Explain types of business organization and there legal formation.......................................6
P5 Advantages and disadvantages of unincorporated and incorporated, business organizations
.....................................................................................................................................................7
TASK 4............................................................................................................................................8
P6. Analyze legal solutions for resolving a range of disputes with examples............................8
M4. Comparison of different legal sources and advice for dispute resolution........................10
D3. Evaluation of legal solution and advice for dispute resolution..........................................10
CONCLUSION .............................................................................................................................10
REFERENCES..............................................................................................................................12
Contents
INTRODUCTION...........................................................................................................................4
TASK 1............................................................................................................................................4
Various sources of law................................................................................................................4
P2. Role of government in making law and applicability of common and statutory laws ........5
M1. Evaluate effectiveness of the legal system as per recent reforms .......................................6
TASK 2............................................................................................................................................6
P3. Illustrate how company, employment and contract law has a potential impact upon
business.......................................................................................................................................6
M2. Differentiate between legislation, regulations and standards to analyse potential impact
upon business..............................................................................................................................7
D1. Coherent and critical evaluation of the legal system and law..............................................7
TASK 3............................................................................................................................................7
P4. Explain types of business organization and there legal formation.......................................7
P5 Advantages and disadvantages of unincorporated and incorporated, business organizations
.....................................................................................................................................................8
TASK 4............................................................................................................................................9

P6. Analyze legal solutions for resolving a range of disputes with examples............................9
M4. Comparison of different legal sources and advice for dispute resolution........................11
D3. Evaluation of legal solution and advice for dispute resolution..........................................11
CONCLUSION .............................................................................................................................11
REFERENCES..............................................................................................................................13

INTRODUCTION
Business law is those types of rules and regulations that help in giving legal
stability for establishment of a company. They are those set of provisions
which are mandatory to be followed by all organization for smooth
transactions and dealing. Scopes of such laws are very wider in scope and
cover all legal aspects that are important for formation of an organization. In
the following file thing that are going to be covered is various sources of law,
role of government in law making, impact of different types of law upon
business. Further in the file formation of business organizations of various
types, its funding and management. Also, legal solution with case law is
explained.
TASK 1
Various sources of law
English law legal system is of a very dynamic nature which consist of
various types of laws and rules, which helps in governing individual within an
organization. There are certain sources that are to be followed as they
provide basic framework for laws to be formed. These sources are divided
into two type’s primary and secondary resources (Peterson. and et. al.,
2016). They are explained as follows:
Primary sources: Such sources are the very basic in nature and
contain original content that has not yet been used. These are as follows:
Common law: It consists of those judgments which are passed by courts.
Also consists of facts, issues, decision and laws that have been used in a
particular case. All these are prepared under a report known as legal report.
Doctrine of judicial precedent is followed in UK under which cases related to
laws are concluded as per previous judgments passed.
Legislation: In this source two houses are there, House of Lords and House
of Commons. Bills are presented in front of these houses in order to enact as
permanent law in UK. This is done for protecting of rights and making society
a safer place to live.(Bird, 2016)
Secondary sources: These are the sources that help in extracting of
information from those primary sources which are in existence. Further it is
explained below.
Legal encyclopedias: These are the most trusted and very well known
encyclopedia all over the world. It gives information about all legal term
present under various laws.
Parliamentary and non-parliamentary publications: These are that
sources which deals with command papers and debates which take place in
the houses of parliament. Reports of such type can be easily found over
official website of government.
Law commission: They are the commission which helps in making a law
more effective. Also helps in covering its flaws and loopholes. Such
commission provides recommendations for making amendments. Judgments
given by them are not at all based.