Introduction to Law and Legal Systems : Assignment
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Added on 2020-10-04
Introduction to Law and Legal Systems : Assignment
Added on 2020-10-04
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Business Law
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1ACTIVITY 1....................................................................................................................................1Different sources of law in UK...................................................................................................1Role of government in making law and application of common law and statutory in justicecourts...........................................................................................................................................2Impact of company, employment and contract law upon the business.......................................4Legal formation of different types of business organisations.....................................................6Management and funding of different types of business organisations......................................8Legal solutions of range of business problems...........................................................................9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONBusiness law can be defined as a branch of law which contains the rules regarding lawcommencement, running and winding up of any business. Each corporation need to follow eachrule mentioned in the business law while performing their regular business operations. Thepresent study shows nature of the overall legal system of the UK by describing various sourcesof law, role of government in development of law along with the effectiveness of legal system incontext with recent reforms and developments. It also shows the application of common andstatutory laws over the justice courts. The assignment also provides information about impact ofemployment, contract and company law over various business operations and difference betweenlegislations, regulations and standards. It also provides a brief description about legal formation,management and funding of various business structures. At the end the study also provides someappropriate examples as to provide legal solutions of some business problems. ACTIVITY 1Different sources of law in UKLaw can be defined as the administrator of the overall system of the country includingcivil, criminal and business systems of the country. Law provides a guide as to perform anyactivity within the country. There are various sources through which laws are being framed in thecountry like:Statutes: Statutes are the main source of law. These can be defined as local and statelegislatures of the country (Twomey, Jennings and Greene, 2016). Statutes need to beinterpret in the same sense in which they are framed. Statutes are usually originated fromthe act of parliament.Common law: Common laws are the combination of justice provided by the higherjurisdictional authorities of the country. Common laws are applicable on the lowerjurisdictional courts. They need to consider common laws while providing justice for anyproblem. Justice of higher jurisdictional courts are the source or common laws.Equity: Equity laws has been made in the country for the purpose of maintainingequality within the country. Purpose of development of equity laws was to eliminateillegal discrimination from the country. Trust, ethical standards etc. are major sources ofthe equity law (Margulies, 2018). 1
Role of government in making law and application of common law and statutory in justice courtsRole of government in making lawIn UK, laws are being made by the act of parliament. For the purpose of developing anylaw in the country, a bill need to be passed through various stages in the parliament. The processof passing the bill starting from putting the bill in front of parliament till getting royal assent isperformed by the authorised ministers of the government. The law making process performed byministers of government are as under:First readingAt this stage ministers thoroughly read the details of the bill (Nyoni and Hart, 2018).They discuss each clause of the bill in the house of parliament at this stage. Second reading: In this stage, ministers vote for the clauses of bill to be implemented by considering theirpros and cons. They also vote for the amendments to be made in the bill.Committee stageAfter voting for clauses and amendments, bill is transferred to committee wherecommittee members discuss about the bill and amendments made at earlier stage. Report stageAfter discussing the bill and taking decisions about the same, committee members reporttheir decisions to the whole house. Each member of house have right to propose for theamendments in the clauses of bill. Third readingNo amendments can be made at this stage. The bill along with all the amendments arediscussed in this stage.After passing all the above stages, bill is transferred to other house of parliament whereall these stages are being repeated. In case of any amendment made by another house, the billalso need to be transferred to the first house and the process goes on until both huses agreed uponsame clause (Forman, Lo, Shilling and Sweeney, 2015). Royal assentAfter completion of the above stage, the bill becomes law. Law is being presented infront of Queen of UK. When Queen gives her assent by signing the law, the law becomes the actand becomes applicable over each person of the country.2
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