Unit 7- Business Law

Unit 7- Business Law

Table of Contents
INTRODUCTION................................................................................................................................3
TASK 1.................................................................................................................................................3
P1 Explain the different sources of law...........................................................................................3
P2 Explain the role of government in law making and how statutory and common law is applied
in the justice courts..........................................................................................................................4
TASK 2 ................................................................................................................................................5
P3 Illustrate, using specific examples, how company, employment and contract law has a
potential impact upon business........................................................................................................5
TASK 3 ................................................................................................................................................6
P4 Explore how different types of business organisations can be legally formed...........................6
P5 How business organisations are managed and funded...............................................................8
TASK 4.................................................................................................................................................8
P6 Recommend appropriate legal solutions available to resolve range of disputes........................8
CONCLUSION..................................................................................................................................10
REFERENCES...................................................................................................................................12

INTRODUCTION
Business law is the branch of civil which deals with operating the business working. There
are many legislation under the umbrella of business law that wholly governs their working which
includes contract, company, employment law and many other. Every business deals in everyday
transaction which is to be regulated by contract law an agreement is present in them in order to
prevent any breach of contract. The employment law regulates the relationship of employer and
employees and protect their rights from exploitation (Augenstein, 2018.). This report shall deal with
nature of English legal system, different business organisations, impact of business law and
alternate dispute resolution.
TASK 1
P1 Explain the different sources of law.
English law means the rules followed in legal system in both civil and criminal matters and
administered by the courts in England and Wales. English law is based on principles of common
law. It has its own legal doctrines which are different from civil law legal system.
The sources of law can be classified in 2 parts:
Primary sources of law are basically the original source of law that are authoritative. It
includes the following-
Legislations
These are the law made by Parliament which is the supreme authority to enact a law in UK.
These legislations are superior from all other sources of law. There is no written Constitution in UK.
It is 'partly written and not wholly codified. These are called statutory laws.
Case laws
One of the fundamental and primary source of law in UK is case laws which are decisions of
the courts of UK which are published in publications called law reports. It consists of facts, issues,
decisions, reason for decision and legal principles upon which a decision is based by the judge. The
reported decisions are binding source of law for future decisions. A subordinate court's judge is
bound by the decision of superior court's judge. These are called common laws (Ma and Marquis,
2016).
Secondary sources of law refers to commentaries of law. It includes the following-
Legal encyclopedia
To start a research in law, it is the best as it includes cases, key points and issues which will
help in excellent research. Example – Halsburg's Law of England and Wales

Parliamentary and non parliamentary publications
These includes command papers, debates of Parliament, House of Commons and House of
Lords papers and Non Parliamentary publications includes consultation papers from government
agencies and departments, reports of government.
Law journals
They may cover general or specific areas of law. It may contain a mix of articles and case
commentaries which helps in understanding the legal issues in detail.
Text Books
For any legal topic to be researched, text books written by academics for students are best.
For example, Smith &Hogan's Criminal Law (Turner, 2020).
P2 Explain the role of government in law making and how statutory and common law is applied in
the justice courts.
Parliament is a place where all government politicians meets and decide to make law and
make decisions on working of the country. The government proposes a bill in either of two houses
to make it a law.
A bill is an idea or a draft of a new law or a change to an existing law. A bill make be
proposed in either House which includes House of Common or House of Lords. There are stages to
debate, examine and suggest changes to the proposed bill (Tepe, 2016).
The stages to pass a bill to make it a law are -
 First reading, where bill is arrived and the name of bill is read.
 Seconding reading, where the debate or discussion on purpose and key areas of the bill
begins. There is no vote at this stage.
 Committee stage, where detailed scrutiny is done line by line of the bill and changes are
suggested by the members. Whether to make changes in the bill or not, voting can be done.
 Report stage, where another chance is given to make changes in the bill. Voting can be done
on whether changes are needed or not.
 Third reading, where final chance for amendments are given. This stage aims to close the
loopholes in the bill.
 Consideration of amendments, where a process of 'ping pong' is done, that is, if Lords have
made changes, it is send to Commons for agreeing, they may accept or reject it. And
Commons changes are sent to Lords as well.
 Royal assent, when both houses pass the bill, it is sent to Monarch for approval. When
approval is given, it becomes Act of Parliament (Blair and Vidak- Gojkovic, 2018).
Application of common and statutory laws in justice courts -