Business Law: Sources, Role of Government, and Impact on Business Organizations
Added on 2023-01-12
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BUSINESS LAW
BUSINESS LAW............................................................................................................................1
INTRODUCTION...........................................................................................................................4
TASK 1............................................................................................................................................5
P1 Explain different sources of law.............................................................................................5
P2 Role of government in law making and applicability of common, statutory laws in court. . .5
M1. Evaluate legal system in terms of new reforms taking place in society...............................6
Legal system of UK has been evolving from very long time but still there are lot of flaws and
founts in it. Changes done into legal system is not according to mark. These are very difficult
to understand because of its complex nature. Due to lack of modernization it is also outdated.
This has lead to deficiency of applicability of law in appropriate manner..................................6
P3 Using examples illustrate hoe company, contract and employment law creates potential
impact in an business organization..............................................................................................6
M2. Difference between legislation, regulation and standard.....................................................7
D1. Critical evaluation of legal system of law............................................................................7
TASK 3............................................................................................................................................7
P4. Different types of business organization their formation and management..........................7
P5 Funding of various organization with advantages and disadvantages....................................8
TASK 4............................................................................................................................................9
P6 Solution for Dispute occurred between two parties...............................................................9
REFRENCES.................................................................................................................................12
INTRODUCTION...........................................................................................................................4
TASK 1............................................................................................................................................5
P1 Explain different sources of law.............................................................................................5
P2 Role of government in law making and applicability of common, statutory laws in court. . .5
M1. Evaluate legal system in terms of new reforms taking place in society...............................6
Legal system of UK has been evolving from very long time but still there are lot of flaws and
founts in it. Changes done into legal system is not according to mark. These are very difficult
to understand because of its complex nature. Due to lack of modernization it is also outdated.
This has lead to deficiency of applicability of law in appropriate manner..................................6
P3 Using examples illustrate hoe company, contract and employment law creates potential
impact in an business organization..............................................................................................6
M2. Difference between legislation, regulation and standard.....................................................7
D1. Critical evaluation of legal system of law............................................................................7
TASK 3............................................................................................................................................7
P4. Different types of business organization their formation and management..........................7
P5 Funding of various organization with advantages and disadvantages....................................8
TASK 4............................................................................................................................................9
P6 Solution for Dispute occurred between two parties...............................................................9
REFRENCES.................................................................................................................................12
INTRODUCTION
Business laws are those kinds of laws which are necessary for running and establishment
of a business organization within the scope of law defined for them to be followed. In other
words these are said to be those rules and regulations which is important for smooth functioning
of an organization of any kind. Such laws are also known as commercial or mercantile law
because they deal with corporate issues within an organization. Scope of this law is very wide
because they cover all aspects required for establishing an organization. Nature of these laws are
dynamic because of there tendency which leads to formation of an organization. In this file
things which are going to be covered is sources of law, various business organization, effect of
contract, employment and company law. Further formation, funding and management is going to
be told. In the end Solution regarding dispute is going to be covered as per situations.
TASK 1
P1 Explain different sources of law
Law is an important element of society which helps in maintaining discipline and order in
a society in order to create these kinds of laws or of any type of law then there are certain
elements that is required to be used. These elements are known as sources which are important in
forming concrete laws for benefits of society. Such elements are known as sources and are
explained as follows:
Common Law: It is one of the most important sources because it deals with those laws who
have negative impact over a society. Judgments are passed by judges in a landmark case is
included under this source (Peterson. and et. al., 2016).
Legislation: Under this source procedure used in parliament for enacting a legislature is
explained. These legislatures are known as parliament which consists of two houses House of
Lords and House of Commons. In front of these houses of parliament a bill is presented which
becomes permanent law after going through a procedure.
Commission: This commission has been formed in order to analyze the situation that has taken
place because of laws amended by government. Also this commission has responsibility to
suggest changes that can be made within the amended law to make it more impactful in a society.
This commission submits a report to an higher official of government (Hamad, Elbeltagi,. and
El‐Gohary, 2018).
P2 Role of government in law making and applicability of common, statutory laws in court
Government is one of the most important pillar in formation of law and policies related to
it. Plan is prepared for law that has to be formed as per situation existing in a society. Also to se
that laws implemented are passed through proper procedure role of government is been divided
into three types. Explained as follows:
Business laws are those kinds of laws which are necessary for running and establishment
of a business organization within the scope of law defined for them to be followed. In other
words these are said to be those rules and regulations which is important for smooth functioning
of an organization of any kind. Such laws are also known as commercial or mercantile law
because they deal with corporate issues within an organization. Scope of this law is very wide
because they cover all aspects required for establishing an organization. Nature of these laws are
dynamic because of there tendency which leads to formation of an organization. In this file
things which are going to be covered is sources of law, various business organization, effect of
contract, employment and company law. Further formation, funding and management is going to
be told. In the end Solution regarding dispute is going to be covered as per situations.
TASK 1
P1 Explain different sources of law
Law is an important element of society which helps in maintaining discipline and order in
a society in order to create these kinds of laws or of any type of law then there are certain
elements that is required to be used. These elements are known as sources which are important in
forming concrete laws for benefits of society. Such elements are known as sources and are
explained as follows:
Common Law: It is one of the most important sources because it deals with those laws who
have negative impact over a society. Judgments are passed by judges in a landmark case is
included under this source (Peterson. and et. al., 2016).
Legislation: Under this source procedure used in parliament for enacting a legislature is
explained. These legislatures are known as parliament which consists of two houses House of
Lords and House of Commons. In front of these houses of parliament a bill is presented which
becomes permanent law after going through a procedure.
Commission: This commission has been formed in order to analyze the situation that has taken
place because of laws amended by government. Also this commission has responsibility to
suggest changes that can be made within the amended law to make it more impactful in a society.
This commission submits a report to an higher official of government (Hamad, Elbeltagi,. and
El‐Gohary, 2018).
P2 Role of government in law making and applicability of common, statutory laws in court
Government is one of the most important pillar in formation of law and policies related to
it. Plan is prepared for law that has to be formed as per situation existing in a society. Also to se
that laws implemented are passed through proper procedure role of government is been divided
into three types. Explained as follows:
Executive Role: Executive has an important role in forming of policies that is to be
applicable all over UK. Enforcing of laws legally comes under this role that is necessary for
keeping balance in society (Greenleaf, 2018). This consist of Prime Minister and all other cabinet
minister.
Legislative role: As per this role various kind of laws are enacted that is related to all
aspects occurring in society. A bill is presented in House of Lords and House of Commons
where discussion takes place and for becoming law a bill has to go through three readings in
which proper debate and amendment is done over the bill.
Judiciary role: In this role of government is to caret an impact by passing judgments in a
case which create effectiveness in judicial system. Such judgments become base for upcoming
cases of same nature and enhances smoothness in process of judgment. All the members of
government come under this committee only (Lasprogata. and Foster, 2016).
Common Law: Under this law judgments are being passed by judges on the basis of
judicial precedents that means that facts and issues have been heard properly by the judges. On
the basis of this a judgment has been passed that has covered the loophole which exited in law
related to crime. There is no need to make a new law where two cases have same situations. It is
also known as common law or case law. In case, judgement of a case comes out as a new law
then it is considered in subsequent court decisions
Statutory law: These re concrete form of laws that are being formed only after proper
discussion over it. These are formed to protect rights of citizens in a country. All these are
written form of legislative body. A fixed procedure is followed in order to pass a bill and make it
law. These are applied in every case because it is a fundamental structure over which various
statutes are formed. It is a declaration by the government that every individual has to comply
with it and judgment is made taking in consideration cases further going to happen (Allen, 2017).
M1. Evaluate legal system in terms of new reforms taking place in society
Legal system of UK has been evolving from very long time but still there are lot of flaws
and founts in it. Changes done into legal system is not according to mark. These are very
difficult to understand because of its complex nature. Due to lack of modernization it is also
outdated. This has lead to deficiency of applicability of law in appropriate manner
P3 Using examples illustrate hoe company, contract and employment law creates potential
impact in an business organization
Various laws has been formed by the UK government regarding business organization.
Such legislation have a strong impact upon business organization that is as follows:
applicable all over UK. Enforcing of laws legally comes under this role that is necessary for
keeping balance in society (Greenleaf, 2018). This consist of Prime Minister and all other cabinet
minister.
Legislative role: As per this role various kind of laws are enacted that is related to all
aspects occurring in society. A bill is presented in House of Lords and House of Commons
where discussion takes place and for becoming law a bill has to go through three readings in
which proper debate and amendment is done over the bill.
Judiciary role: In this role of government is to caret an impact by passing judgments in a
case which create effectiveness in judicial system. Such judgments become base for upcoming
cases of same nature and enhances smoothness in process of judgment. All the members of
government come under this committee only (Lasprogata. and Foster, 2016).
Common Law: Under this law judgments are being passed by judges on the basis of
judicial precedents that means that facts and issues have been heard properly by the judges. On
the basis of this a judgment has been passed that has covered the loophole which exited in law
related to crime. There is no need to make a new law where two cases have same situations. It is
also known as common law or case law. In case, judgement of a case comes out as a new law
then it is considered in subsequent court decisions
Statutory law: These re concrete form of laws that are being formed only after proper
discussion over it. These are formed to protect rights of citizens in a country. All these are
written form of legislative body. A fixed procedure is followed in order to pass a bill and make it
law. These are applied in every case because it is a fundamental structure over which various
statutes are formed. It is a declaration by the government that every individual has to comply
with it and judgment is made taking in consideration cases further going to happen (Allen, 2017).
M1. Evaluate legal system in terms of new reforms taking place in society
Legal system of UK has been evolving from very long time but still there are lot of flaws
and founts in it. Changes done into legal system is not according to mark. These are very
difficult to understand because of its complex nature. Due to lack of modernization it is also
outdated. This has lead to deficiency of applicability of law in appropriate manner
P3 Using examples illustrate hoe company, contract and employment law creates potential
impact in an business organization
Various laws has been formed by the UK government regarding business organization.
Such legislation have a strong impact upon business organization that is as follows:
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