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Sources of Law | Business Law

   

Added on  2020-10-22

10 Pages3263 Words223 Views
Business Law
Sources of Law | Business Law_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Different sources of law.........................................................................................................1P2 Role of government in law-making.......................................................................................2TASK 2 ...........................................................................................................................................4P3 Impact of Employment and contract law on a business with case study...............................4TASK 3............................................................................................................................................5P4 Different types of business organisations and their formation..............................................5P5 How business organisations are managed and funded...........................................................6TASK 4............................................................................................................................................7P6 Legal solutions for dispute resolution....................................................................................7CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
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INTRODUCTIONBusiness law also called as commercial law or mercantile law is a broad area of lawgoverning the business or commercial transactions between people and the businessorganisations (Adams, 2017). The business law covers the governance of business entities underthe law of partnership, company law, law of agency, etc. as well as regulates the commercialtransactions under the law of contract. The report talks about the nature of legal system existing in Britain along with the role ofgovernment in law making and application of these laws in the courts. The report also gives abrief about the types of business organisations and how the employment law and contract lawimpacts the business in context of the company Pegasus Ltd. And, lastly the report focuses on theimportance of alternate dispute resolution. TASK 1P1 Different sources of lawIn every society, irrespective of size or type there has always been presence of a legalsystem which governs such a society. It is difficult to classify the law into categories but forbetter understanding law can be broadly categorised under two heads – public and private. Publiclaw is the law governing relationship between individuals and the state and private law dealswith the relationship between individuals rather than with state.Sources of lawThere are four sources of law which could be considered to understand the English law,which are – legislations, precedents or the common law, human rights law and the EU law(Mann and Roberts, 2011). Legislations – These are the laws which are formulated by the legislature in the country.The UK parliament is the principal legislature which is situated in London and isprimarily responsible for making and passing the laws which would be applicable in allthe four countries.Precedents or Common law – The legal system prevalent in the countries in the UK isbased on the common law, which means the decisions of the superior courts becomes thepart of law and is followed by the other courts of law.1
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