UK - Business Law Assignment

Added on - Dec 2020

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TABLE OF CONTENTSINTRODUCTION..........................................................................................................................3TASK 1...........................................................................................................................................3P1 . Identification of various sources of law..............................................................................3P2. Analysing the role of government in law making procedure................................................4M1 Evaluating the effectiveness of UK legislative system in relation to recent reforms anddevelopments..............................................................................................................................6LO 2................................................................................................................................................6P3. Effect of contract, employment and company law on business..........................................6M2. Comparison between standards, regulations and legislation.............................................8LO 3................................................................................................................................................8P4 Analysing the ways different types of business organizations are legally formed..............8P5 Identifying the way business are managed and funded......................................................10LO 4..............................................................................................................................................11P6. Recommendations related to legal solutions for resolving of disputes............................11CONCLUSION.............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONBusiness law is the legislation in UK legislative system which governs the variouscommercial practices performed by the companies located in England and wales. The objectiveof formulating as well as implementing the business law is to assist enterprises in resolvingvarious issues related to business. Business law in UK also governs as well as regulates thecommercial transactions and contracts between two parties. It is the legislation designed in orderto ensure fair trade practices in the country. Business law in the united kingdom has madesignificant contribution in preventing companies from unfair competition. Amendments in thebusiness laws has direct as well as significant effect on the plans, strategies and procedures ofcompany. Business law is applicable top formation of new organization and also on winding upof enterprise.The present study will have emphasizes on addressing the important sources of law inUK. It will have focus on analyzing the contribution of government in law making procedure.Assignment will highlight the key difference between legislation, standards and regulations. Itwill also include the detailed assessment of advantages and disadvantages of forming differenttypes of business.TASK 11.1 Various sources of lawLaws in UK legislative system are applicable to the companies operating business inEngland and Wales. UK legislative system have hierarchical structure, where the parliament andsupreme court are at top position. In addition to this, decision taken by members in parliamentand supreme court are binding on lower tribunals. But in UK legislative system, members in theparliament has the right to make as well as implement law in the nation. The majority of normsin legislative system of UK are formed by the act of parliament (Keith, 2018). In addition to thisother sources of legislation are :Statutory Legislation :It is the main source from where the norms in UK legislative system areEvolved. Such types of norms are formed by the act of parliament.Delegated legislation :Few norms in UK legislative system are made by the government in thebasis of power or authority given by parliament.
Common Law:Few norms in UK legal system are originated as a result of decisions announcedby the judge in the supreme court in some special kind of law suits.European union law:Many of the norms such as employment law are highly influenced by theEU legislation. Many of the laws are formed by the EU government before brexit. But, after UKleave EU, government in United kingdom has decided to develop their own legislation.European convention of human rights :This law is formed by the EU government with themotive of preventing the human rights which is also followed by companies in UK.The parliament in United Kingdom comprises house of lords as well as commons. Thereare approximately six hundred and fifty members in parliament. An individual member inparliament represents defined geographic constituency (Terziev, Petkov and Dragomir, 2018). Incontext of house of commons there are approx. eight hundred people among them six hundredmembers are employed directly by queen on the basis of recommendation by Prime Minister.Both parliament and government has important role to play in law making process. Thelaw making procedure is very lengthy and begins in the house of common and ends at the houseof lords. It is the house of the lords where the final decision related to the passing of the bill istaken by members in parliament. Government has role to play at the different phases of the lawmaking procedure. The various stages involved in law making are :At the initial stage of the procedure, role of the government is to identify the problemfaced by people or companies/ industries in the nation. After identification of the issue, it is theduty of government to determine the solution for the problems. At the next step, role of legalauthority is to prepare the proposal consisting of problems and solution. In other words,important role of the government in law making process is to represent the interest ofstakeholders that is people or companies (Marett, 2018).Starts in the house of commons :First reading:At this stage, the proposal prepared by the government is to presented in front ofmembers in house of commons for the first reading.Second reading:After the completion of first reading, it is required by the government to makechanges as per the feedback given by members in house of commons.Committee stage: role of legal authority is to forward the proposal to the committee for specialinvestigation. At this phase, the effectiveness of the solution or law suggested is measured.Report stage: At this stage, role of the government is to wait for the report by special committee.
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