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Sources of Law - Business Law

   

Added on  2020-12-29

11 Pages3839 Words294 Views
BUSINESS LAW

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Sources of Law.......................................................................................................................1P2 Role of government in law making........................................................................................2P3 Effect of other laws on business.............................................................................................3TASK 3............................................................................................................................................4P4 Types of business organization’s legally formed.......................................................................4P5 Management and funding of organizations............................................................................6TASK 4............................................................................................................................................7P6 Resolution of disputes.............................................................................................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9

INTRODUCTIONLegal system is referred to a procedure r process for interpreting and enforcing the law.Each country is required to have various laws that will help in smooth functioning of itsoperations. In the fast changing environment complexities are increasing for every individual. Toconduct business in efficient manner there is need for law which regulates all the businesses toavoid any legal compliance (Esposito, 2012). Business law is introduced to provide guidance tobusinesses in UK. In this project report consist nature of legal system in UK and potential impactof law on businesses. Together with this different type of business organization’s and appropriatelegal solutions to business is described. TASK 1P1 Sources of LawLegal system of a country like UK has evolved over several years. Any legal systemcannot be incorporated in one day there is requirement of evolution and formulation of laws kepton taking place. The legal system of UK is developed by various sources that are as follows-Legislation: Law created by the parliament is termed as legislation. Legislations are themost important piece of legal system in UK. Parliament is the highest authority to pass law inUK that approves any law with the consideration of both the houses of parliament. With theapproval of House of Lords and House of Commons royal consent is also required. Case Laws: Case laws are reported in numerous series of law reports. This becomeimport source of law as many cases become benchmark for future disputes and termed as law inUK (Orts, 2013). Common Law: The legal system of two countries in UK (England and Wales) is basedon common law one and decisions of the senior appellate court becomes part of the law. European legal system will be considered effective as it provides universal access andrange of processes and procedures to settle different disputes. Judicial system that heard variousdisputes is effectively established and these all are based on disputes arises in different sectors toresolve them frequently.To bring legislation into being in UK there is requirement of approval of both the housesof parliament. These houses are House of Lords consist of 800 peers, of whom 600 are appointedby queen on the recommendation of Prime Minister. Together with this House of Common I1

present with 650 members of parliament. Laws that are passed in parliament of a country will beapplicable on the country and becomes part of it legal system. As businesses like K is providing delivery services by receiving orders online. The wholebusiness is based on how efficiently a business delivers food to its consumers. When anylegislation for employment of employees or conducting business online is proposed in parliamentthen this may affect business of K (KANGO).P2 Role of government in law makingEstablishing a legal system in the country is primary concern as it helps in maintainingsmooth operations in all the areas. Importance of law is admired but formulation of laws that willbe applicable in the country is equally important. There must be an entity in UK which is wellaware regarding various issues arising in the country and globally and for this government isconsidered as most appropriate authority (Wilson and von der Heidt, 2013). Government of UKis well aware regarding legal system it deals with various personal issues and social issues oncontinuous basis. Government evaluates need of laws on the basis of past information andpredicting changes that will be initiated in future. When need of formulation of any new law isidentified then a draft for the law will be prepared by presenters of government. This draftconsists of all the information regarding which law needs to be formulated and requirement ofthe law. Together with this impact of implementation of law in the country will be mentioned indraft. This draft will move through several stages and after receiving approval of all the stagesfinally will present to houses of parliament. When both the houses give approval to the draft androyal consent is received then it is become Act of Parliament. The requirement of formulating any law that helps to govern businesses in moreproductive manner can be proposed by government of UK. As business conducted by K is ofdelivery services and when several issues keeps in pooping up on regular basis on regulationsthat will be implemented on businesses then it will become necessary to set some guidelines forthese businesses. Government by drafting a proposal to parliament will help businesses informulating various laws required for operating efficiently. When businesses that are providingservices online then government of the country will help parliament in formulating laws that willhelp in resolving dispute that arises in online businesses. As legislation can be imposed on2

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