Business Law: Evaluation of Legal System, Sources of Law, Role of Government, Impact on Business Organizations

BUSINESS LAW

Table of Contents
INTRODUCTION...........................................................................................................................1
ACTIVITY1.....................................................................................................................................1
Evaluation of legal system.........................................................................................................1
Sources of law.............................................................................................................................2
Role of Government in Law making ..........................................................................................3
Impact of company, contract and employment law over business organisations .....................5
Difference between legislation, regulation and standards ..........................................................5
ACTIVITY 2....................................................................................................................................6
Funding, management and formation of different types of organisation....................................6
Through an example evaluate the concept of dispute resolutions system..................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................1
.........................................................................................................................................................1

INTRODUCTION
Business law are those laws which deals with the issues that is related to a company or an
organisation. These laws covers those rights, relation and conduct of business which important
for the formation of business. They are those laws which helps in the formation of a company
and also explains about rules and regulation required for its formation. The scope of these laws
are very wide in a way that it provides framework for the formation of an organisation. In this
project the concepts to be covered are sources of law, role of government in formation of law in
UK and applicability of law in the courts of UK. Also company, employment and contract law is
covered with an illustration. Further in the project types of business organisation, there funding
and formation is going to be covered. In the end legal advice with examples is going to be
explained.
ACTIVITY1
Evaluation of legal system
Legal system in UK consist of parliament and judiciary that helps in functioning of laws
in society of UK. Parliament is the supreme authority that forms laws and regulation in UK. It
has got the power of discussion over a bill/draft and then amending it. Judiciary system in UK
consists of courts which performs there functions according to there jurisdiction and the area
assigned to them. Courts are divided into two basic types higher and lower courts. Under higher
courts Supreme court comes which is the highest court for appealing in any kind of cases both of
civil and criminal nature. Then comes court of appeal which bis divided into criminal and civil
bench. Under criminal division there is crown courts which holds trial over serious criminal
cases and also sentencing under those cases in which the defendant has been convicted by a

magistrate court (Allen and Kraakman, 2016). In Magistrate court it deal with those cases in
which summary of offences is there. Pre trial issues and less serious offences is done and are of
criminal nature. Then comes High court that is divided into three categories Queen's bench deals
with general civil dispute that involves negligence, breach of contract and defamation. Then
comes chancery decision which includes matter related to property, trust, insolvency and tax.
Family division is also there that contains matters related to divorce, maintenance and care of
welfare of children. Then comes county court which deals with the other matters of both civil
and criminal nature. As law is an diverse field that keeps on evolving form the time of its
existence. The basis of formation of law in UK is common law which has its existence from a
very long time also principle of natural justice is followed. As the development in field of law
various new laws come into existence such as contract law that explains about the formation of
contract, then comes company law in which formation of company and rules regarding it is
explained. Business law is also introduced to keep a check over the business activities taking
place in a business. Criminal and civil law is also formed. Anti trust law is also introduce for
maintaining competition in market. Development in laws has lead to an important change in
society as crime rate is controlled and smooth flow of trade in market is going on. It has ease
down life of people and has made it safer in UK (Ball, 2015).
Sources of law
Law are those rules and regulation that is formed in order to maintain discipline and
peace in an society. These rules and regulations are the most important factors, as they play an
effective role in maintaining crime rate in a society or a country. Law is also one of the most
important element which is required for the formulation of a country and nations. All laws are
formed through various things which are known as sources. Theses sources gives an important
framework or basic structure for laws and helps in there formations. The sources are formed due
to the trend and costumes followed in a society. In UK there are some important sources of law
in UK. These sources are explained below:
Common Law: It is the most important source of law in UK as it covers basic principals
and gives an appropriate law for a particular situation. This can be further explained in those
forms of law which gives powers to judges for forming of a law and also for its amendment.
Decisions of the courts are presented in front of public under 'law report'. These reports is
considered as a reliable source of law. As it contains facts, issues and decisions given by judges.