Unit 7 Business Law Assignment Sample
Added on 2020-12-29
8 Pages2210 Words61 Views
Political ScienceLaw
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Unit 7 Business Law
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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1P1 Sources of law that organisation needs to comply with....................................................1P2 Role of government in law making...................................................................................2P3 Employment and contract law have impact on business...................................................2P4 Suggest appropriate legal solutions...................................................................................3P5 Justification for use of appropriate legal solutions............................................................4P6 Recommend solutions on the country legal structure.......................................................4CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................5
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INTRODUCTIONBusiness law is required to be followed effectively by the firm in order to ease offoperations in effectual way. Present report deals with CP (Country Pine) which is engaged inmanufacturing of furnitures and provides in restaurants and pubs. English legal system isexplained and implications of various sources of law is discussed as well. Moreover, duties ofdirectors are discussed. The Alternative Dispute Resolution focusing on arbitration is explained.P1 Sources of law that organisation needs to comply withThe law is required to be followed by the organisation so that it may be able to functionas per the legal framework in the best possible manner. UK government implements laws relatedto businesses in order to perform in accordance to the standards imparted by the law. Englishlegal system is well-structured system which consists of civil and criminal laws providing betterand fair treatment to the organisations and citizens with regards to any discrepancies occurred. Inrelation to business, statutory and common law is being applied on the operations oforganisation. Statutory law means it is a type of written law that is implemented in UK'sParliament when approval is obtained in from other courts. This implies that originating decisionis taken from the courts and collective approval is made and law is formed which is legallybinding on the company. It means that legal protection is provided to the customers whopurchases goods from firm. In order to carry on fair business practices, organisation needs tocomply with sources of law (The Legal System of the United Kingdom, 2018). Moreover, common law means which is applied to organisation or people. CP (CountryPine) needs to follow such law provided by the government to carry on business operationssmoothly. Senior Appellate courts make decisions and as such, law is formed which is legallybinding on the business. On the other hand, European Union law provides rules and regulationsrelating to financial standards in the best possible way. While, Companies Act, 2006 is one of theimportant business law regulating businesses in order to have fair business practices in effectiveway. It consists of 1300 sections and 16 schedules helping in regulating formal law applying onthe organisation. Moreover, this law lists down directors' duties which is helpful in business aswell. The Act lists down various standards related to valid name of business, matter related toissuance of shares, liability of auditors for checking accuracy of financial statements in effectivemanner. Thus, such sources needs to be complied by organisation.1
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