Importance of Business Law : Report

BUSINESS LAWS

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK-1............................................................................................................................................1
P1 Different sources of law that organisation must comply with...............................................1
P2 Role of the government in law making and how the statutory and common law is applied
under the justice courts................................................................................................................2
M1 The effectiveness of the legal system ..................................................................................3
TASK-2............................................................................................................................................3
P3 Provide the advice under different case scenarios.................................................................3
M2 Analyse the potential impacts ..............................................................................................6
TASK-3............................................................................................................................................6
P4 Legal solution ........................................................................................................................6
P5 Justifications for the use of appropriate legal solutions.........................................................7
M3 Positive and negative impacts of legal solutions to business problems...............................7
TASK-4............................................................................................................................................8
P6 Legal Rights of AFG oil company.........................................................................................8
M4 Compare and contrast the effectiveness ..............................................................................9
CONCLUSIONS ............................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
There is a great importance of business law under business because without the knowledge of
law it is difficult for the business to conduct its operations. The business can't ignore such factors
otherwise it is impossible for the business to perform its activity and its activities are also
adversely affected. It is better for the business to apply the business law and seek the expert
advice from accountants and attorney because they provide the best possible advices and also
take necessary steps to protect the business(Stemler,2013). Different business are there have to
follow down different laws and those laws which are most suitable for business and also helps
them to conduct their operations and make their activity meaningful. The present report is based
on Stuart and little LLP a reputed law firm which are situated in London. This report also covers
the different sources of law the organisations complies with, role of government in implementing
the laws and legal solutions for a range of business problems and legal solutions based upon
different countries legal system.
TASK-1
P1 Different sources of law that organisation must comply with.
The different sources laws are there and it is important for the organisation to comply those laws
while conducting their operations and they are as follows:
 Legislation or statutory law:It is law that created by a legislature of the country. The
law which comes from legislature are the acts of parliament. The changes and
amendments can be done by parliament only. It also involves article and sections and
whatever the section applied and article covers that is mandatory for all the people and
business to follow such while performing their functions and operations and is also says
that the certain rights of people are involve which cannot be restrained by anyone because
they are their essential rights(Robson, 2015). The legislature delegates the powers related
to law making to the local bodies and authorities. In UK, the legislation also includes
statutory rights, council orders and bye laws. The legislature given authority to the courts
regarding interpretation of statues, treaties and local customs.
1

 Common law:The legal system under the UK is based on common law and the decision
making powers are in the hands of senior appellate and there decision are to be
considered as a law part.
 European union law:The UK is considered as a member state of the European Union
that means the European law is precedes as compared to UK law.
 Convention on human rights:It is considered as a member state of the Europe Council
and it enables down all the courts under UK to protect the rights which made identified
under European Convention On Human Rights(Law, Buhalis and Cobanoglu,2014).
P2 Role of the government in law making and how the statutory and common law is applied
under the justice courts
The process that been followed during the passing of bill are as follows:
 Bill:The first the bill is drafted and proposal is made and submitted as per requirements
of the bill. The certain explanation covers under the bill and it is in form of public,
private and private members bill. The private bill made an impact on particular person or
community and it is the essential responsibility of MP to prepared such bill. The public
bill made down an impact on larger number of individuals and it is the responsibility of
cabinet to prepared such bill(Allen and Kraakman, 2016). Some of them are Constitution
reform act,2005 and Criminal justice act,2003 and so on.
 Reading firstly:It is first step in the process related to law formation and firstly the bill is
reading and organised under the House Of Commons.
 Second reading:The debate is conducted regarding its assessment and feasibility is also
tested and the amendments of the bill is based according to the conclusion. Afterwards,
the voting is conducted in favour of that bills and that decide whether the bill is passed or
not.
 Committee stage:The detail examination and testing is conducted in favour of so called
bill and it will be conducted by members of house of commons to check and to assess its
criteria or fulfilment for which it comes.
 Third reading:It is made by the hose of commons and presented the amend bill in whose
favour the voting is conducted in past to check it acceptance and rejection.
2