Business Law: Legal System, Legislation, and Legal Formats of Businesses

BUSINESS LAW

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
PART 1............................................................................................................................................3
Legal system and different sources of law..................................................................................3
Reflection of legal system...........................................................................................................4
Key legislation, regulations and standards..................................................................................5
Different law which businesses have to follow...........................................................................6
Legal formats of businesses.........................................................................................................8
Evaluation....................................................................................................................................9
PART 2..........................................................................................................................................10
Case 1.........................................................................................................................................10
Case 2.........................................................................................................................................11
Case 3.........................................................................................................................................11
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Business law topic is very necessary to be discussed, because this topic always provides
an appropriate framework to businesses or companies. Upper management within an
organisation always responsible to adhere all legal and ethical considerations in its daily
operations. According to the government of United Kingdom, every company or venture which
runs within the UK’s authorisation area is fully required to adhere and follow every business
legislation that has passed by the local government. The main aim of the UK’s parliament and
government behind passing business law is to maintain an ethicalness in the country’s business
environment. This report discusses business law aspect of the United Kingdom. There are
various legislations, regulations and standards also has been discussed in this report which comes
under this country’s legal system. This report mainly divided into two parts, different basics of
business law has discussed in the first part, and in the second part some real-life legal business
cases has been discussed.
PART 1
Legal system and different sources of law
Legal system, this is basically a system which provides a framework to a country for
running its business environment effectively and ethically (Howarth and James, 2020). For
example; the government and parliament of the United Kingdom has formulated and passed
different laws which each enterprise or company has to follow and adhere in this country. Not
only government of the United Kingdom, because currently government of each country has
created a legal for itself to manage all thing legally. Formulation of legal system is very
necessary task to a country, because it represents its very positive image at the international
level. Currently the United Kingdom is highly reputed country globally, because it has highly
succeeded in creation of an effective legal system. Every induvial within this country responsible
to follow different laws. There are some key sources of law has been discussed below;
Different Sources of Law

Constitutional law: This is one of the main sources of law. For example; every country has
constitution, so local government and people of a country responsible to adhere each and every
legislation and regulation which involves in the constitution.
Statutory law: Statutory is another key source of law (Al Fadhel, 2018). Basically, legislation
which has formulated through this source are always passed on the basis of MPs’ (member of
parliament) votes.
Administrative law: Administrative body of a country also formulates different laws and
regulation. For example; Administration of the United Kingdom always passes various
legislations when it is necessary.
These are some key sources of law within the United Kingdom, in which these all sources
are highly contributing in making the UK’s legal system more and more strong. There are
government of the United Kingdom always plays an excellent role in formulating different laws.
Basically, without involvement of government, there is no law can be passed. There are statutory
and common law are completely applied on the different business within country. The basic
different between common law and statutory law is, a common law develops with judge’s new
decisions. On the other side, a statutory law develops by different government agencies. For
example; there are ‘companies act 2006’ is a part of statutory law, in which every business or
company within the UK should have follow this law while running its operations in the market.
Then, ‘employment rights act 1996’ is part of common law, so that a company should adhere this
law as well (Woolley and Core, 2018). In short, legal system of the United Kingdom is necessary
to all existing businesses for running their all operations legally and ethically.
Reflection of legal system
Legal system of the United Kingdom is very helpful in the context of making a happy and
healthy environment within the society. There is business law is also a small part of the UK’s
legal system. Basically, this legal system is too beneficial in making the UK as a strong nation at
the international level. Currently many of country has appreciate the United Kingdom for it an
effective legal system. With the support of business law, this country is able to maintain an
effectiveness and ethicalness in its business environment, and maintaining an effectiveness in
business environment is very necessary task for the government of UK as well. For example;