Business UK Law Assignment

Business Law

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
A) Explaining statement 'Parliament is sovereign' and enumerating various sources of UK
Laws.......................................................................................................................................1
B) Explaining role of government in the law making process and application of statutory and
common law...........................................................................................................................3
TASK 2............................................................................................................................................4
A) Advising JPM on responsibilities and potential implications and impact of regulations. 4
A) Legal advices to organisation on base of case or law.......................................................6
B) Recommending alternative legal solution and comparing effectiveness of solutions.......9
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Business law is required so that organisation may abide various types of laws governed
and regulated by Parliament of UK. Present report deals with laws which are applicable to
business in order to carry out enhanced and uninterrupted operations. Sources of UK laws are
enumerated along with Parliament is sovereign statement. Moreover, UK government role in
formulating in law-making is discussed. Statutory and common laws and several laws are
discussed. Furthermore, directors' responsibilities of JPM Company is highlighted and various
impacts and implication of regulations are explained. Legal advice has been provided to Amber
Ltd and Champion Ltd which are related to different scenarios. Moreover, ADR is explained
which are useful in getting out timely and effective judgements in less time and cost-effective
manner. Hence, it can be said that laws are helpful not only in making out better operations but
also in resolving disputes between parties if any. Thus, business law is fruitful for firms as issues
could be resolved quite effectively.
TASK 1
A) Explaining statement 'Parliament is sovereign' and enumerating various sources of UK Laws
The parliament of UK has many well-structured laws which are binding on citizens and
organisations as a whole. The government announces its programme in October or November by
way of Queen's speech. This process is known as 'Parliament is Sovereign'. Meaning of such
statement is that laws and regulations are beneficial for all people and is their duty to abide by
them. It is required that rules are followed by people so as to enhance integrity in the country
(Parliamentary sovereignty. 2018). The statement makes Parliament, Supreme authority legally
permissible to create or end law. This means that Courts cannot overrule regulations
implemented in practice by the Parliament. In relation to this, there are various important
functions performed by Parliament of UK. These are as follows-
 Full authority is exercised by them with regards to construction of laws.
 Moreover, Courts cannot engage in any of the activities. In simple words, Courts cannot
intervene in laws made by Parliament.
 Future Parliament is subjected to be abide by them. It clearly shows that new government
also cannot imply changes in the same.
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 It is a vital part of constitution of UK which regulates entire laws.
Primary legislation is made which is passed on to become legal law. In addition to this, it
is accepted and signed by Queen as without her approval, law cannot be implemented. Legal
system is thus followed which lists down all the responsibilities needed to be carried out quite
effectively. Statutory law, common law are much important of the said legal system.
Sources of UK Laws- Various laws are followed by people of UK which are described below-
1. Precedents-
The term precedents mean that similar issues which are handled by Courts are either
binding or persuasive purpose for Courts. In other words, it is a principle rule established in
previous cases which can be used for any of related problems in present hearings. Hence,
precedents is one of the vital sources of UK law.
2. Acts of Parliament-
This is one of the common law of parliamentary of UK. Firstly, bill is passed by entities
such as House of Commons and House of Lords. And after their approval has been attained, it
passes on to Royal Assent by Monarch (Beatty, Samuelson and Abril, 2018). Thus, bill is
transformed into legal law by Acts of Parliament.
3. International Court-
It is commonly abbreviated as World Court which is principal judicial court of UN
(United Nations). It engages in resolving disputes among any of its member states. The members
are France, Russia, China, UK and US. This forms legal source for UK and various members so
that disputes could be resolved.
4. European Court-
The EU has various statutes in its judiciary which are provided to be followed for
effective piece of judgement in the best possible manner. Among EU, European Court of Justice
(ECJ) is engaged in resolving matters of EU law in effectual manner. Hence, proper integration
is followed by the law.
5. Common Law-
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