P1 Different Sources of Law
Added on 2021-02-20
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Business law
TABLE OF CONTENTSLO1..................................................................................................................................................2P1 Different sources of law.........................................................................................................2M1 Effectiveness of legal system in terms of recent reforms and development........................2LO2..................................................................................................................................................3P2 The role of government in law making and how statutory and common law is applied injustice courts...............................................................................................................................3P3 Company, employment and contract law has potential upon business.................................3M2 Legislation, regulations and standards to analyse potential impact on businesses...............4LO3..................................................................................................................................................4P4 Legal Formation of different types of business organisation................................................4P5 Management and funding of business organisation...............................................................5M3 Advantages and disadvantages of various types of business organisation...........................7D2 Critical review of forms of business organisation.................................................................9LO4..................................................................................................................................................9P6 Legal solution to different legal solution .............................................................................9M4 and D3 Comparing, contrasting and evaluating the effectiveness of different legalsolutions....................................................................................................................................11REFERENCES..............................................................................................................................12
LO1P1 Different sources of lawEnglish legal system is a approach which systematically resolves disputes anddisagreement. It protects chaos in social groups and communities. The different sources of law are as follows :The legislation - The legislation is an important role plays in the formation of law. Thelegislative law is applicable over UK unless stated. Though UK constitution is not in written.The legislation is an important source of law as they have power to enact or infringe existing lawor any new law. Common law - The decision executed by appellate court is a major source of law in UK.The law is formulated on principles that is established by apex and appellate court (Zhang,2017). This source of law provides through the higher judicial and authority for lowerrepresentatives of divisional. Act of parliament - The act of parliament is all about modification in existing andmaking of new law. The bill gets approved by house of lord, house of common, royal monarch,etc. Thus, it is a main source of law and it is mandatory to follow this procedure by formation ofany law. European law - The European law is a system of law that is operated in members ofstate of European union. The members of union operated different law in the country. This law isconsidered as a source of law as the European union law needed to follow in formation of law. M1 Effectiveness of legal system in terms of recent reforms and development.The law review commission reviews the law of England and Wales since the year 1965.This is a body in which the effectiveness as well as fairness of law is examined (Kundu, 2015).This commission is responsible for measuring effectiveness of laws. The law commission act, 2009 aim to improve ratio of implementation ofrecommendations. The reform programme is launder in 2016. The legal system is flexible but ithas a limitation that it is not in written form. Therefore, the reliability of legal system lacks dueto this.
LO2P2 The role of government in law making and how statutory and common law is applied injustice courts.First reading – In this, the bill is drafted according to instruction of government. Thecomponents and title of the bill is read under house of commons. Only reading of bill is doneunder this stage. Second reading - This stage consist of activity of discussion among parliamentmembers. The debate is done by these members and after reaching to particular stage ofproceeding of bill for further stage or not.Committee stage – On this stage, the house of commons examines the bill. Also, theneed of amendment is suggested on this stage only. Report stage – This stage comprises preparation of report by a debate among thesecommittees. Proceedings in the House of Lords- The bill is then sent to house of lorde in which thefurther process is executed. Earlier the amendments made through house of commons areanalysed by these house of lords for accepting it or not.Royal Assent – This is the final stage in which the bill become an act after the finalapproval by royal assent which is monarch. The monarch has final authority in order to approvalof bill.P3 Company, employment and contract law has potential upon business.Employment law – The employment law is related with companies and their employees.The law focuses to provide awareness and benefits to company and the employees working in it.There are various laws under this employment law. They are minimum wages act, 1998,Employment act, 2002, Anti discrimination act, 1991, etc. The law controls as well as regulatesactivities of employees and operations & functions of the companies. The law also controls the activities of businesses through providing them guidelines forthe stated provisions which helps them to be in line with the law. This law makes aware thecompanies about laws which helps them in attaining more profit. The law of employmentimpacts businesses to control and regulate them for the smooth functioning and to avoid anyhindrances from legal system.
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