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

Business Law
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Table of Contents
Introduction................................................................................................................................................3
Section 1....................................................................................................................................................4
LO1 Explain the basic nature of the legal system................................................................................4
P1 Explain different sources of law and laws that organisations 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........................................................................................................................................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 on business...............................................................................................................9
M2 Differentiate and analyse the potential impacts of regulations, legislation, and standards 11
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..................................12
Section 2..................................................................................................................................................13
LO3 Suggest appropriate legal solutions to business problems......................................................13
P4 Suggest appropriate legal solutions for a range of business problems e.g. termination of
contract, rescue from insolvency and liquidation............................................................................13
P5 Provide justifications for the use of appropriate legal solutions..............................................15
M3 Assess the positive and negative impacts of legal solutions to business problems............16
LO4 Recommend appropriate legal solutions based upon alternative legal advice provided......18
P6 Recommend legal solutions based upon a different country’s legal system and/or a
different legal framework...................................................................................................................18
M4 Compare and contrast the effectiveness of these recommendations...................................20
D2 Critically review and evaluate the use of appropriate legal solutions in comparison with
alternative legal advice.......................................................................................................................21
Conclusion...............................................................................................................................................22
References..............................................................................................................................................23
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Introduction
This report evaluates the meaning of law and different aspects of the law. In this, it
helps to understand the different legislation with their effects. It can be stated that a
speech is given by the queen in parliament at the time of ceremony. It also lays down
the different sources of law with their foundation and that also provide the emergence.
In parliament, the bill can be passed with the approval of both Houses that can also
explain. They also focus on the different regulation such as Equal opportunity
regulations, Health, and safety regulations, General Data Protection Regulation (GDPR)
with their impacts. This report is also based on the case scenario through which issue
arises and for this solution is also provided for the parties.
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Section 1
LO1 Explain the basic nature of the legal system
P1 Explain different sources of law and laws that organisations must comply with
It can be affirmed that law forms the authoritative and binding rules and decisions for all
individuals in state. The statement that is parliament is sovereign means that the
parliament has power to make or dismiss the law and individuals, judicial authority can
override the judgments of legislature. The sovereignty divides into two parts political
sovereignty and legal sovereignty. In earlier times, the queen was recognized as the
legislative authority and they have power to pass and formulate the legislations.
Sources of UK law:
Sources of UK are divided into two parts that are a primary source and secondary
source.
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Primary
Source
Precedents
Customs
European Law
Legislations
Secondary
Source
Legal
Encyclopedias
Law Journals

Primary Source:
Legislation: It is that law that can be framed by the legislature. The important part of
legislation is Acts of Parliament. It has the power to pass to pass laws and that can be
applied in different countries. It includes the House of Lords and House of Commons.
Precedents: It is the rule or principle that can be recognized in the earlier decisions and
that can be binding and persuasive for the tribunals and courts. It can be applied to the
rulings on a law that can be guided by the earlier decisions. For eg: previous decisions
of a government agency.
European law: UK is recognized as the member states of the European Union that
defines that EU law takes the precedence over the laws of UK. These laws are defined
under the treaty of EU.
Customs: It is the principle or rule of conduct that can be recognized by the specific
community. A custom should be reasonable, certain and immemorial antiquity (Bell,
2018).
Secondary Source:
Legal Encyclopaedias: It includes the legislation of UK with their effects. They provide
an advantage to the scholars in searching the legal solution.
Law Journals: In journals, scholars can find the summary of case laws and it also
includes the articles of a legal topic.
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Role of solicitors, Barristers, judges:
Barristers Solicitors Judge
The barristers present they
case and speak in court in
front of a judge. They
perform the transactional –
type of legal work.
Solicitors meet with their
clients and perform the
administrative works. They
also provide the legal
advice to their clients.
The decision is provided by
the judge based on the
facts and circumstances of
case.
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