Business Law: Critical Evaluation of Legal System and Law

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.