Business Law: Classification, Sources and Impact on Commercial Organizations in the UK

BSC (Hons) BUSINESS MANAGEMENT WITH
FOUNDATION
SEMESTER 1, EXAMINATION 2021/22
BUSINESS LAW
MODULE NO: BMP4002
Exam Paper Release Date & Time: Saturday 11 June 2022 at 10:00am
Submission Cut-off Date & Time: Monday 13 June 2022 at 10:00am
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ANSWER BOOKLET
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Table of Contents
INTRODUCTION...............................................................................................................................3
Answer to the Question 1.............................................................................................................3
Arrangement of the UK’s law...............................................................................................3
The regulation of law..............................................................................................................3
Classification of law:..............................................................................................................4
The different legal system of the UK:................................................................................5
Answer to the Question 2.............................................................................................................5
The UK’s Foundation of law.................................................................................................5
Sources of Law:.......................................................................................................................5
Elucidation of the process of the construction of law:.................................................6
Answer to the Question 3.............................................................................................................6
“UK law making process have a direct impact on commercial organisations”-
explanation with respect to the Contract Law.................................................................6
Agreement:................................................................................................................................7
Contractual intention:............................................................................................................7
Consideration:..........................................................................................................................7
CONCLUSION...................................................................................................................................7
REFERENCES...................................................................................................................................8
INTRODUCTION
UK have the most significant areas which assist in controlling all the advancements
and the practises in which they endeavour to administer the ways of handling the scope of
earnings and also the turnover to be implicit with management and is thoroughly
interconnected with law. There is a particular law for each and every venture, in order to
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run the company also there is Company Law to handle the organisations in which all the
rules and regulations are framed to manage the company according to law and to make
the organisation legal (Amsterdam and Bruner, 2022). There are some other laws too
which have a connection with the business law like contract law, employment law,
company law itself and many more acts. The examination will focus on answering the
three most imperative questions related to the conceptualisation of business laws. The
classification, sources and its impact over the commercial establishment will thereby be
elucidated.
MAIN BODY
Answer to the Question 1
Arrangement of the UK’s law
The regulation of law: The rule of law depicts the rudimental doctrine which is
generalised by the regulatory authorities according to which the individuals along with the
associations that are formed in the commercial market has to work in the deliberative
manner which is decided and implemented in a regulatory form. The UK has three
distinctive legal systems, one each of Scotland, England and Wales and Northern Ireland.
The rule of laws does not have a written constitution but abides by the fundamental
aspects laid down by the authorities of the country. The citizens have to work under the
guidance of these laws and thereby abide by this definite regulatory system (den Berghe
and et. al., 2022). The rule of law is the essential framework which undermines the fair,
open and peaceful guidelines to offer to the public in which the commercial businesses
and the citizens of the country proser. This is about ensuring the:
 Accountability for the existing, known and the deliberate laws laid down by
the governing bodies.
 Equality in the treatment of the citizens
 The protection of the human rights.
 Efficient resolving of the disputes of the general public.
 The prevalence of the law and order in the country (Smith, 2022).
Classification of law: The sorting out of the elements according to the varied ways can
be done in the assortment of the law i.e.,
Public and Private law: The public law deals with the relationship of the state with the state
and the citizens in accordance to the constitution and the administration of the law. The
private law is exclusively for the considerations regrading the liabilities and the rights of the
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