Business Law: Sources, Role of Government, Impact on Business, Formation of Organizations, Dispute Resolution

BUSINESS LAW

INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Sources of law........................................................................................................................1
P2 Role of government in making law........................................................................................2
TASK 2............................................................................................................................................3
P3 Impact of employment and contract law on business............................................................3
TASK 3............................................................................................................................................4
P4 Formation of various types of an organizations.....................................................................4
P5 How business organization are managed and funded............................................................5
TASK 4............................................................................................................................................6
P6 Legal solutions for resolving disputes...................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Business law is a cluster of norms, beliefs, rules and regulations which is enacted by legal
bodies of a nation for smooth functioning of entire corporate world. Main objective of legislation
is to minimize the possibilities of fraudulent activities that might incur while running a business
(Mann and Roberts, 2011). Therefore, whole project is going to circulate around the need and
significance of legal policies at workplace with the help of specific example. For instance;
Pegasus is an organization which was established by Jay and Alex for providing delivery
services to the desired customers will considered in this project. Initially, company wanted to
know the legal system of a nation for expanding their business as well as government role in
amending laws. Furthermore, legal rules of managing and handling business are also outlined in
the assignment for smooth functioning of an organization.
TASK 1
P1 Sources of law
According to the given case study, Pegasus is an organization which was set up Jay and
Alex in a partnership for delivering goods that were ordered online. The business has expanded
in a very fastest way by providing on time services to their desired clients. Thus, in order to run
their business in legal way and for expanding it as more as possible, company wanted to know
about the legal system of nation. As it helps them in performing each or every aspect in better
manner as well as assist in a complex situations. Basically, legal system of UK consist of various
rules and regulations by showing the rights or obligations of several members which were
working in a business. In fact, number of acts and amendments are done by legitimate bodies
with distinctive purpose (Kroes, 2010). However, there are two types of sources are identified
which shows the reason behind amendment of particular laws such as primary and secondary.
Some of them are discussed as follows-
Primary sources are considered as statements of the law itself which is divided into two
categories such as;
Legislation- Statutes and regulations which were set by legal bodies are known as
primary source of law because these are first hand and used by judiciary court only. For
example; Act of parliaments, orders sanctioned by government, constitutional rights set by
governing bodies and various other laws which was amended by legal institutions.
1