Business Law: Understanding the Legal System and its Impact on Business

Business Law
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Contents
Introduction...................................................................................................................... 3
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 Explain the effectiveness of legal system in terms of recent reforms and
development.................................................................................................................7
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...8
LO2 Illustrate the potential impact of the law on a business............................................9
P3 Using specific examples illustrate how company, employment and contract law
has a potential impact upon business...........................................................................9
M2 Differentiate and analyze the potential impacts of regulations, legislation and
standards....................................................................................................................10
D1. Provide a critical and coherent evaluation of the legal system in laws drawn from
range of different examples to support judgments......................................................11
LO3 Suggest appropriate legal solutions to business problems....................................12
P4 Suggest appropriate legal solutions for a range of business problems.................12
P5 Provide justifications for the use of appropriate legal solutions.............................14
L04 Recommend appropriate legal solutions based upon alternative legal advice
provided......................................................................................................................... 15
P6 Recommend solutions based on a country’s legal system and /or a different
framework...................................................................................................................15
M4 Compare and contrast the effectiveness of these solutions.................................16
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The suggested legal solutions for resolving dispute are arbitration and conciliation.
Their effectiveness is compared as follows:...............................................................16
D2 Critically review and evaluate the use of appropriate legal solutions in alternative
advice......................................................................................................................... 17
Conclusion..................................................................................................................... 18
References.....................................................................................................................19
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Introduction
Legality of action is need on the part of individual engaged in business and by the
organisation as a whole as well. The laws application of which will govern the legality of
business activities are explained and the impact of same is also analysed in reference
to CP Ltd. The role of courts in making the business on legal premises cannot be
denied and the same is explained with the concept of common law. The application of
the statutory and common law on the relevant business organisation is also explained.
The conflicts in the business are very common and the court is very old manner of
solving issue and sometime business have to bear adverse consequences rather than
solving of issue therefore Alternative suggestions are made.
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