Business Law: Understanding Legal Solutions for Business Problems

Business law
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Contents
......................................................................................................................................... 1
Introduction........................................................................................................................ 3
Section 1: Nature of legal system and legislation impacting business.............................4
LO1-Explain the basic nature of the legal system.........................................................4
P1-Explain different sources of law and laws that organizations must comply with.. 4
P2- Explain the role of government in law-making and how statutory and common
law is applied in the justice courts.............................................................................5
M1-Evaluate the effectiveness of the legal system in terms of recent reforms and
developments............................................................................................................6
LO2 Illustrate the potential impact of the law on a business.........................................7
P3 Using specific examples illustrate how company, employment and contract law
has a potential impact upon business........................................................................7
M2 Differentiate and analyse the potential impacts of regulations, legislation and
standards...................................................................................................................8
D1-Provide a coherent and critical evaluation of the legal system and law, with
evidence drawn from a range of different relevant examples to support judgements.
.................................................................................................................................. 9
Section 2 – Legal solutions to business problems.........................................................10
LO3 Suggest appropriate legal solutions to business problems.................................10
P4 Suggest appropriate legal solutions for a range of business problems e.g.
termination of contract, rescue from insolvency and liquidation..............................10
P5 Provide justifications for the use of appropriate legal solutions..........................11
M3 Assess the positive and negative impacts of legal solutions to business
problems..................................................................................................................12
LO4 Recommend appropriate legal solutions based upon alternative legal advice
provided...................................................................................................................... 13
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P6 Recommend legal solutions based upon a different country’s legal system
and/or a different legal framework...........................................................................13
M4- Compare and contrast the effectiveness of these recommendations...............14
D2 Critically review and evaluate the use of appropriate legal solutions in
comparison with alternative legal advice.................................................................15
Conclusion..................................................................................................................... 16
References.....................................................................................................................17
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Introduction
It is important for all businesses to know about the laws applicable as it will help in
managing business operations more effectively and avoid any hindrances. There are
different laws applicable on business organizations including employment laws,
licensing laws, health and safety laws, etc. It is necessary for all business organizations
to take precautions to ensure that they are not violating any applicable laws and for this
purpose they must seek advice from legal professionals. In this report, legal advice has
been given to companies for resolving their business problems. This report also
includes various sources of English laws. All the laws applicable in UK have been
emerged from different sources such as Legislature, Precedents, European Union.
Such sources are explained in detail in this report. Further, it is important to remember
that the legal dimensions of business like finance, data protection, and others, must be
managed. Therefore, in this report different laws applicable on business are also
discussed.
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Section 1: Nature of legal system and legislation impacting business
LO1-Explain the basic nature of the legal system
P1-Explain different sources of law and laws that organizations must comply with
The statement made by the Queen every year in November month, in the speech the
Parliament Plans and government are discussed with the aims and objectives. Queen
pronounces the speech from House of Lord and it is witnessed by society of the
country. The Parliament sovereignty has the supreme power to make the law and order.
It has some features such as:
 Laws are passed by Parliament on any matter.
 The functions and operations are regulated by Parliament.
 No any other court has right to overrules the decision of Parliament.
Sources of law:
The legal system of the Unite kingdom is divided into four types, legislation, European
law, Human rights law and Common law. The other one is custom but is not described
from legislation and common law incorporated the custom. It is analysed that Parliament
has authority to make the laws.
Legislation: It is the fundamental source and it includes the regulations by competent
authority. The parliament legislation created new laws called as Acts of Parliament
which modifies and amends the law (Besson and d'Aspremont, 2017).
Common laws: Judicial precedents is based on the doctrine of stare decisis and
connected with case law jurisdictions. Decision is provided by court judge’s plays
significant role as the source of law.
Customs: A normal custom is not developed in written manner but practice is defined it
is continuing for a long period of time after that it becomes the Law.
International court: This court solves the dispute between members and states and
gives advice to regulatory agencies and organs. It includes 15 judges panel that are
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selected by general assembly and Security Council for the nine years period (Davies,
et. al., 2016).
European court: It has the highest authority of European Union for the issues related to
European law union. It interprets the European law and also ensures the same
application of order and law in all places of the Europe.
Roles:
Barristers: The person has right to present their case in from of the Court and they are
appointed as legal representatives by the parties. They also provide legal advice to
lawyers and professional advocates sometimes (Bright Knowledge, 2018).
Solicitors: The professional person gives advice to certain services like creating legal
documents, appoint lawyers, legal advice etc.
Judges: They are very experienced person having wider knowledge in law and order
and it’s also ensures the correct interpretation of statutes. The final judgments are given
by court judges.
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