Business Law: Legal System, Sources of Law, and Impact on Businesses

Business Law

Table of Contents
INTRODUUCTION........................................................................................................................3
TASK 1............................................................................................................................................3
1. Explanation of the legal system, different sources of law, the role of government in law-
making and how statutory and common law is applied to businesses...................................3
2. Critical reflection of the legal system using examples to demonstrate strengths and
weaknesses.............................................................................................................................5
3. Explanation of the key legislation, regulations and standards that a new business needs to
be aware..................................................................................................................................5
4. Impact of different law upon business organisation...........................................................5
5. Explanation about different legal structure in public and private sector with their advantage
and disadvantages...................................................................................................................6
6. How different organisations are managed and funded in both public and private sectors.7
TASK 2............................................................................................................................................8
1. Brief overview of Contract law, employment law, Company law, etc..............................8
2. Salient legal points of each case.........................................................................................8
3. Suggest an appropriate legal solution to each of the problems..........................................9
4. Provide justification for the advice and solution given......................................................9
5. Compare & contrast the effectiveness of the given recommendations..............................9
6. Critically and evaluate the use of the appropriate legal solutions suggested in comparison
with alternative legal advice.................................................................................................10
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUUCTION
Business law means the area of law which governs the commercial transactions in a
systematic manner. It is necessary to understand that guidelines is to be followed in each and
every situation for accomplishing the goals. In terms of discussion towards this report, number of
topics are to be discussed which will help to focus that how laws are needed to be commenced
and what the legal representative within the parliament house. Also, How any of the business is
needed to be set up and for that what are the criteria which is needed to be fulfilled. Whereas
case studies are to be solved in this which will help to understand that how any of the civil form
of cases can be dealt.
TASK 1
1. Explanation of the legal system, different sources of law, the role of government in law-
making and how statutory and common law is applied to businesses.
The legal system of UK is very well planned where roles and responsibilities are
distributed in number of bodies. It is one of the reason that every sector gets opportunity to take
their decision in a systematic manner. The legal system has given the power to Parliament for
forming any of the new law whereas final approval is needed to be given by Queen who has the
supreme level of power with UK. Also, legal system has given power of commencing law to
external bodies due to which they take activity participation at the time of commencing law and
allows other bodies to perform their task systematically (Harner and Rhee, 2014).
There are several sources in UK which commences law and all of those source work as
per the orders given by the central body of UK i.e., Parliament House. The brief discussion about
this sources are explained below:
 Legislation: The fundamental source for forming the law is legalisation where proper
team has been formed into two parts i.e., House of Lords and House of Common.
Whenever any of the law is commenced through the process of legislation procedure then
final approval is to be taken by Queen (Wachter and Mittelstadt, 2019).
 Directives: It has a direct link with European Union where union body commences the
law in UK without obtaining the permission. The power to commence any of the law with
the help of directives has been allowed just after the end of world war.

 Case laws: There are number of occasion where law decisions are needed to be declared
but due lack of available number of laws it is not possible to declare the decision. By
looking at the situation of cases, government has authorised the court to declare the
decision of own by commencing new laws and regulations (Murray, 2014).
 Treaties: Several number of laws has been formed by the international government
where UK government have agreed to follow them. It means that those treaties are also
needed to be followed in a systematic manner and it is necessary that any of the new law
which has been commenced by government should not contravene the treaties formed
under international laws.
In every nation, the ruling government plays the crucial role for the process of
development or even in the formation of laws and policies. In context of UK government, they
have huge role to play at the time of formation of law. They always start with the primary work
which is drafting the bill. Drafted bill is to be presented in front of first reading. In first reading,
member have to give title and in second reading formal discussion is necessary. When it comes
to committee stage, there is necessary to understand that they have to check those points which
can create problem at the time of commencing law. The points which are needed to be amended
as per the guidelines of committee stage is to be done by report stage. In third reading, member
are required to pass the bill if majority number of members agree upon it. Then bill is to be given
to House of Lords where all of the steps are to be cross verified by peer members. If peer
member agrees upon it, they forward the bill to Queen, where she has to given final approval
under Royal Assent Act, 1961.
Statutory law and common law the two most important law within the premises of UK
where it is compulsory that it must be followed by every business organisation. In case of
statutory law, the laws are already formed by the government which means those law are simply
needed to be applied by business organisation at the time of taking decision (Rutledge, 2014).
Secondly, common law are those laws which are commenced by looking at the situation which
are available in front of the company. This decision are taken by the judges of different level of
court and it is necessary that those decisions must be applied by the business organisation.