Business Law: Understanding Legal Systems and Solutions

Business law
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Contents
Introduction...................................................................................................................... 3
Section 1– Nature of legal systems and legislations impacting businesses.....................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.......................................................................................6
M1 Evaluate the effectiveness of the legal system in terms of recent reforms and
developments...............................................................................................................7
LO2 Illustrate the potential impact of the law on a business............................................8
P3 Using specific examples illustrate how company, employment and contract law
has a potential impact upon business...........................................................................8
M2 Differentiate and analyze the potential impacts of regulations, legislation and
standards....................................................................................................................10
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 judgments...11
Section 2- Legal solutions to business problems...........................................................12
LO3 Suggest appropriate legal solutions to business problems....................................12
P4 Suggest appropriate legal solutions for a range of business problems e.g.
termination of contract, rescue from insolvency and liquidation.................................12
P5 Provide justifications for the use of appropriate legal solutions.............................14
M3 Assess the positive and negative impacts of legal solutions to business problems.
................................................................................................................................... 15
LO4 Recommend appropriate legal solutions based upon alternative legal advice
provided......................................................................................................................... 16
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P6 Recommend legal solutions based upon a different country’s legal system and/or
a different legal framework.........................................................................................16
M4 Compare and contrast the effectiveness of these recommendations...................18
D2 critically review and evaluate the use of appropriate legal solutions in comparison
with alternative legal advice........................................................................................19
Conclusion..................................................................................................................... 20
References.....................................................................................................................21
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Introduction
In this assignment of business law, the provisions and statues of corporations and
business law are considered. The report is divided into two sections, section one
describes the nature of English system and legislation which are regulated on business
organizations of the country. It also describes the sources of law from where the laws
arrived and role of Government in lawmaking. There are certain reforms and
developments takes place in the country for the effectiveness of companies. In section
two the laws of insolvency and Employment regulations are discussed as per the case
scenario and provisions are applied to employers and officers of the company. The
alternative dispute resolution process is also the good method to solve the dispute
between the parties.
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Section 1– Nature of legal systems and legislation impacting businesses
LO1 Explain the basic nature of the legal system
P1 Explain different sources of law and laws that organizations must comply with.
The sovereignty of Parliament is the supreme high authority of the United Kingdom. In
an older time, in country Parliament is not the subject matter of legal limitation and
courts of country have no power to declare the laws. In the words of Dicey, Parliament
has complete power and it has certain factors such as:
 Parliament has power to pass laws on any matter
 The laws of parliament can regulate the functions and operations of anywhere,
anyone.
 Laws developed by Parliament cannot be overruled by the courts.
 Parliament does not bind its successors in the manner and content with
subsequent legislation.
Sources of law:
English legal system is developed in four manners named as legislation, Human rights
law, European law and common law. The fifth method is custom but it is not discussed
since legislation and case law have incorporated custom It is considered that Parliament
has the power of lawmaking.
 Legislation: This is the primary sources of law that consists of the legal
regulation by competent authority. It has several purposes to authorize, to
regulate, to enable, to prescribe, to sanction, to restrict and to declare. The
legislation of parliament developed new laws known as Acts of Parliament that
repeals and amends old laws. The legislature also delegates the power of
lawmaking to other lower level bodies (Hart, And Green, 2012).
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 Case law: Judicial Precedent is depended on the doctrine of stare decisis and
related to jurisdictions on the common law. Precedents are the combined
principle of law originated from the decisions laid down in earlier. Judgments and
decision passed by the judges are important and considered as the source of
law.
 Customs: A general custom is not made in written form but when a practice is
shown and it exists for a long time period then it becomes the source of law.
 International court: It is also called as world court and it is the principal organ of
the United Nations. The court settles the matter between states and members
and provides advice to authorized organs and agencies. It alsoconsistsof 15
panels of judges who are appointed by the Security Council and General
assembly for a period of nine years (Anderson, 2016)
 European court: It is the supreme court of European Union for the matter
related to European Union law. As a portion of the Justice court of the European
Union, it is related with interpretation of European law and ensure equal
application of laws in all states of Europe.
Role of Barristers; Solicitors; Judges:
Barristers: The person who speaks in court and gives the case to Jury and Judge. In
some legal system, he receives more training in ethics, evidence law, and procedure
and court practice. They are selected by the Solicitors to present the case in front of the
court.
Solicitors: The person gives assistance and advice on commercial and legal matters to
clients. The working of solicitors is different on the basis of law and its related area.
They have direct contact with Barristers and clients also (Hoffman, et. al., 2014).
Judges: Judges plays several roles, they assess the provided evidence, interpret the
statutes, and control on trials and hearings in courtrooms. They are impartial on making
the decision in the pursuance of justice.
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