Business Law: Critical Evaluation of Legal System and Law

This study explores the legal system and law in business, including sources of law, roles of government, and the impact of employment, company, and contract law on businesses.

BUSINESS LAW

Table of Contents
BUSINESS LAW.............................................................................................................................1
INTRODUCTION...........................................................................................................................3
ACTIVITY 1....................................................................................................................................3
Critical evaluation of legal system and law with a range of examples..................................3
Different sources of law.........................................................................................................4
Roles of government in making law along with its application in the justice court..............5
Impact of employment, company and contract law on the businesses by showing difference
between legislation, standards and regulations......................................................................5
ACIVITY 2......................................................................................................................................6
Private organization.........................................................................................................................7
Sole traders.............................................................................................................................7
Partnership..............................................................................................................................7
Joint Stock Companies...........................................................................................................8
Public organization..........................................................................................................................8
Voluntary organization....................................................................................................................9
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................11

INTRODUCTION
Business law refers an important aspect which shows ways to run as well as to form a
business (Miller, 2016). It keeps business activities safe and secure by which they can
accomplish their goals in an efficient manner. This present study is going to show all sources of
the law which provides fair judgement to people and protect them against illegal actions. This
study will also show importance of making laws and one of the main aims is to decrease illegal
activities like frauds, crimes and making a safe country. Further, this study also shows roles of
the government in making law by showing difference between legislations, standards and
regulations. Lastly, it will discuss formation methods of different types of organizations like
partnership, company etc.
ACTIVITY 1
Critical evaluation of legal system and law with a range of examples
It refers a system which consists of several types of rules and regulations depend upon
the type of law as whether it is business law and others. It is important for people to keep
themselves safe against illegal actions and lawsuits and for business, it is important to protect
activities and laws or the legal system is one of the main elements which allow them to do this.
Every country has their own different legal system, regulations and rules which need to be
followed by people of that country. Every sector of organization requires following
governmental regulations as per the nature of their business (Bishop, 2019).
In the context of UK, it is stated that it consists of 4 countries: England, Scotland, Wales
and Northern Ireland. There are some laws which are being applied to throughout the UK and
some are applied to 2 or 1 country. So, it can be said that each jurisdiction has its own legal and
court system. European convention of human rights is one of the examples. In the year of 1998 it
became and passed in the UK via which the European convention of human rights was
incorporated. It is stated that the UK system of parliament is comprises of 2 separate houses
which is: The House of Lords and the house of common. With the help of law and legal system,
government of the country impose their directions for state activities.

Different sources of law
In the context of law, it can be said that there are several sources of law. Laws protect
people and businesses activities against any type of lawsuit and illegal activities (). There are
mainly sources of law of UK which are being discussed below in a detailed manner:
Human right law: It is one of the most important laws which is being developed and imposed
for protecting all people of the country. All people who are living in the country have some
rights as per this law and with the help of it they can protect themselves against illegal activities
done by others. It can also be said that people can protect themselves against fraud, crimes or any
type of illegal acts. So, from the all discussed features of this law, it can be said that it is being
developed and made for providing security to people and making the country safe (The Legal
System of the UK, 2017).
Legislation: It is also one of the important laws of the legal system, created by legislature. It
refers a body which gives rights in order to create laws. In the legal system of the UK, House of
Lord and House of common are known as important 2 parties. So, it can be said that legislation
has power to pass laws which are being made to apply in all 4 countries of the UK. There are
approximate 8000 members in the first important party, in the House of Lord. It is responsible to
give votes during making laws. Whereas, 650 members of the House of common also have rights
to take participation in developing laws or giving votes for the same (Bell, 2018).
European Union law: In this context, it can be said that the UK is the main and important part
of European Union. As per this act, all laws which are being applicable on the European Union
can be automatically being applicable on the UK. After Brexit, UK is being free as it is not bind
to follow regulations made by the EU.
Case law: This law is being followed by England and Wales which are main 2 countries of the
UK. It can develop with the help of common law.
Equity: It is also being considered one of the main and effective sources of law whose main
responsibility is providing justice by taking fair decision. In addition, it can also be said that
judge finds it easier to take decisions regarding justice and fair decision when it takes help of
equity and satisfy aggrieved party.

Roles of government in making law along with its application in the justice court
Government is the main body whose main responsibility is to protect all people of the country by
making appropriate laws. In the context of importance of the government, it can be said that it is
an important body without whom it is not possible to keep the country, business activities and
functions safe. There are some steps of making or developing a law which shows effective roles
and responsibilities of the government such as:
Bill: It refers a proposed legislation or draft of a new law which is being passed by the
main part of legal system which is the Lord of house Common. At the time of making bill and
for further processes, it is important to complete this stage.
First reading: Proposed legislation or bill is being passed out to chamber in the Lord of House
of Common for first reading. One of the main aims of passing the bill for first reading is to make
sure that all elements are being drafted in a right manner and members of the chamber are agreed
on all terms and rules (Making Laws: House of Lords Stage,. 2018).
Second reading: It is one of the critic stages because after passing of the bill, members of this
stage discuss all main areas. They evaluate the bill in a detailed manner and by discussing they
find some areas where they find requirement of changes in order to make it effective.
Committee stage: In this stage all members analyse the bill from at the front of the bill through
to the end. One of the main aims is to assist the body of a group to make an effective decision
about making a law. It is being reviewed by MP’s or peers. House of common also explains all
detailed informations consisted in the bill for making the best decision (van der Wende and
Rienks, 2018).
Final reading: After passing of the proposed bill by all members it is being presented in the
House of common for making the final decision as whether reject it or accept it. For making the
fair decision, voting is being conducted and on the basis of majority of votes the final decision of
making law is being made.
Impact of employment, company and contract law on the businesses by showing difference
between legislation, standards and regulations
Employment, contract and company laws are important laws by which all parties
involved in these laws get protection as well as security.

Contract law: As per this law, both parties of a contract have rights to protect themselves
against illegal acts done by other party and protect themselves. As per this all legal entities like
partnership and all types of firms require to execute a contract for maintaining documentations.
Protecting themselves against harm which happens due to breaking rules by other parties is main
reasons of making it.
Company law: It regulates the incorporation of a company as it tells ways of conducting
business, compliances which need to be made by each company with their respective
government in order to maintain transparency (Schipani, Milliken and Dworkin, 2016).
Employment laws: It is being developed to protect employees and employers both from harm.
For example: if any employee break rules of employment laws than employer has right to
terminate them. On the other hand, employers are also bind to provide safety to employees, to
not discriminate their employees, providing minimum wages etc.
So, from the above it can be said that all these laws have positive effects on the
performance of business if all people follows rules and regulations.
Standards: It can be defined as guidelines which allow companies or people to get work done
for their products and systems. In this context it can be said that if it is being used in an effective
manner than people or companies can maintain quality, efficiency as well as safety (Laws Vs
Regulations Vs Standards, 2019).
Regulations: It refers detailed instructions which can also be known as rules or administration
laws. It shows that how laws are to be carried out. It can be said that their application is must.
Legislations: It refers a system which consists of rules which are being made by government of
a state, city, and country.
ACIVITY 2
The business organization is the considered which have the entire the level of aim in more
manner to the carrying the commercial level of enterprise and business in more way of providing
effective product and services in order to meet up the needs and demand of customer in perfect
manner. It have been analysis that’s all the business have the common level of feature which
have been extended to the formal level of structure with the in to have the achieving of there
respective level of objectives, use of resources , requirement of the respective legal actions along
with legal regulation of controlling them.

Aldgate east is the London underground station on Whitechapel High Street in
Whitechapel, in London, England. It takes its name from the City of London ward of Aldgate,
which is east of the station. It is on the Hammersmith & City line between Liverpool Street and
Whitechapel, and on the District line between Tower Hill and Whitechapel, in Travelcard Zone.
In the city , there are the various form of the organization are present which have the clear level
of dependence on the need of customer by following up of the legal structure.
So the business is the enterprises which have engage in the several type of business
organization which are more level to be existing in order to have the satisfaction of there various
level of social, economic and human level of requirement. There are several types of business
organization which are such as main types such as the private sector, public sector and the joint
sector.
Private organization
The private sector organization which is being owned and run by private level of
individual. The people have the taxes to the government with the aim of the earing more level of
profit and growth of the business. The company tends to have the increased level of market
share which is done by the maximising the level of sales of business. This type of business
organization has the consideration of the sole traders, partnership, companies and the respective
franchise.
Sole traders
The sole traders are the most common form of business which takes the 90% as business is run
and owned by single individual as this have the power to employ. This business has the pros due
to less level of legal formalities along with boss having own level of control. On the other hand,
the cons of this business as the unlimited liability with respect of limited finance. There is lack of
specialist among the no benefit from the economies of scale.
Partnership
In addition to which partnership is another aspect of private business organization in which the
partner more 2 to 20 people will be able to run the business togetherness . As the legal structure
there is requirement of deed for partnership as the document with all sates all partners in order to
agree to work with power decision in the issues which is being entitled to business profitability.
As the positive aspect of the business have the more level of capital as compared to the sole
trader. The responsibility is the distributes but there is nor legal way of identity. Hence, the

partnership has the major disagreeing decision making which leads to slow decision-making
process. As in the state of the Aldgate east is the London have the establishment of the limited
partners up as the business have limited liability in which the shares cannot be brought or sold. it
is more to be abbreviated as LLP.
Joint Stock Companies
In this addition to have the joint stock companies which have the limited level of financial
resources along with heavy burden of the risk which is involved as the capital is being raised by
the selling the company’s shares. The purchases in known as shareholders who is responsible to
gave the important level of important financial and technical decisioned making. As the
advantage of this type of business organization that’s the liability is the being considered to be
limited by the respective shareholders bearing the no risks as the more make of person in more
manner to have encouraging the invest in capital. On the other hand, this face the level of
difficulties as the to have presence the secrecy in the companies which have the major level of
requirement of the large level of formalities which is needed to be observed in sufficient manner.
Public organization
The next major type of business organization as these ae the public sector which is being owned
by the state or government of the people. The people have to pay taxed to the government as this
is the money which is being used to have the finance in public sector.
Companies which have been owned by the central level of government and the run by the
directors which is applied by the government. These businesses have usually the inclusion of the
water supply, electricity supply, etc. The government give the directors a set of objectives that
they will have to follow. The objectives are the keep the price the low which are everybody of
the service and keeping the people level of employed. This have the reduction in the cost which
is more level of increasing the efficiency to more level of close level of loss making which are no
longer is being provided with the service.
Hence the pros of this business are considered to be important to be owned by the
respective individuals are having the considered level of natural level of monopolies which are
controlled by the government. This is helpful in reducing the waste in industry along with
provide the essential level o services to the respective people. On the other hand, negative impact
as motivation is not considered to be higher as the profit is not an objective. This have the
subsidies which is leading the inefficiency to be considered unfair level of private business as

there are not existence o no competition to the public level of corporation. The business will be
able to run through the government popularity as the major level of requirement of the large level
of formalities which is needed to be observed in sufficient manner.
As the legal structure the company is more level to be enacted with best level of interest of
shareholders as their new level of certificate will be issues of incorporation and there
certification of trading. this is helpful in allowing their company to have the sell of it share in the
stock exchanges.
Voluntary organization
This have been stated as the level of association in which the people are specking their
respective time in helping there other without any level of monetary compensation who doesn’t
have the following the aim of making profit in any significant manner. This orgnzatsion have the
major level o involvement of the concrete level of expression in order to have the fundamental
right od the freedom of association along with identifying the needs fo the groups and
communities which are initiating programmes. This is helpful in preventing the monoprotic
nutteries in which the educating the citizens with respective level pf obligation in terms of the e
policies and programmes of the government contemplated and initiated for their welfare,
mobilising public support through publicity campaigns, raising functional resources through
contributions and donations and finally organising activities of non-partisan and non-political
nature for wellbeing of the society, enriching the lives of citizens and progress of the nation.

CONCLUSION
From above file it can be concluded that Business law provides fair judgement to people and
protect them against illegal actions. This study will also show importance of making laws and
one of the main aims is to decrease illegal activities like frauds, crimes and making a safe
country. Equity considered one of the main and effective sources of law whose main
responsibility is providing justice by taking fair decision. Company law regulates the
incorporation of a company as it tells ways of conducting business, compliances which need to
be made by each company. So the business is the enterprises which have engage in the several
type of business organization which are more level to be existing in order to have the satisfaction
of there various level of social, economic and human level of requirement. The responsibility is
the distributes but there is nor legal way of identity. Hence, the partnership has the major
disagreeing decision making which leads to slow decision-making process. Hence, negative
impact as motivation is not considered to be higher as the profit is not an objective. This have
the subsidies which is leading the inefficiency to be considered unfair level of private business as
there are not existence o no competition to the public level of corporation

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