English Law

This document provides an overview of English Law, including the different sources of law such as Act of Parliament, customs, and common law. It also discusses the role of government in law making and the types of legally formed businesses, including sole proprietorship, partnership, and limited company.

ENGLISH LAW

Table of Contents
Table of Contents.............................................................................................................................2
MAIN BODY...................................................................................................................................3
P1................................................................................................................................................3
P2................................................................................................................................................3
P3................................................................................................................................................3
P4................................................................................................................................................4
REFERENCES................................................................................................................................5

MAIN BODY
P1
The different sources of law are as follows-
Act of parliament- this is a source wherein the parliament is the place where the laws are being
made by the members of the parliament (Cameron and Pagnattaro, 2017). This is a source of law
which is being prepared by the elected members of the parliament.
Customs- this is a source of law under which the ancient laws are being used that is the laws
which are being used since ancient time are being used by the people to promote justice in the
country.
Common law- this is a type of source wherein the previous cases are used in order to provide
justice or to solve the case based on the previous similar case which was done earlier.
P2
The role of government in law making is very essential as the law cannot be formulated without
the permission of government of country. First the bill undertaking all the information relating to
the law will be written and then it is provided in both house that is house of Lord and house of
common. Further here the bill goes for the reading and after it passes through all the reading it
will be presented in front of monarch and there it will get the royal assent and then that bill will
be converted in law.
P3
The different types of business which are formed legally are as follows-
Type of business Advantages Disadvantages
Sole proprietorship- this is a
type of business wherein there
is single owner and all the
liability and responsibility of
the business is of single
person only.
The major advantage is that all
the profit of the company is
enjoyed by the sole trader only
and there is no interference in
the decision making.
The major drawback of this
type of business is that all the
responsibility of running the
business is only on the sole
trader (Clarkson and Miller,
2020).
Partnership- this is a form of
business wherein two or more
people work together.
The major advantage is that
here all the liabilities and
responsibilities of company
But the major drawback is that
the partners have unlimited
liability and in case of loss

are shared. they have to bear it equally.
Limited company- this is type
of business wherein the
company is treated as a
separate entity from the
partners or the owners.
The major benefit of this type
of business is that the owner
has all the control and the
profit is enjoyed by them only.
On the other side major
drawback is that the
registration of the company is
a very tough task and involves
a lot of formalities.
P4
Finding and management of different types of business is as follows-
Type of business Funding and management
Sole trader Managed by sole trader only and funded with
personal capital of trader and loan from friends
and family.
Partnership Managed by both the partners and is funded by
the capital brought in by partners and the loan
taken from financial institution (Graziano,
2019).
Limited company It is managed by the owner and the shareholder
and is funded by loans from large financial
institution and listing the shares of company to
public.

REFERENCES
Books and Journals
Cameron, E.A. and Pagnattaro, M.A., 2017. Beyond millennials: engaging generation Z in
business law classes. J. Legal Stud. Educ.. 34. p.317.
Clarkson, K.W. and Miller, R.L., 2020. Business law: Text and cases. Cengage Learning.
Graziano, T.K., 2019. Comparative contract law: cases, materials and exercises. Edward Elgar
Publishing.