Business Law: Legal System, Legislation, and Organizational Structures

BUSINESS LAW

Table of Contents
INTRODUCTION...........................................................................................................................1
PART 1............................................................................................................................................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........................................1
2. Critical reflection of the legal system using examples to demonstrate strengths and
weaknesses..................................................................................................................................3
3. An explanation of the key legislation, regulations and standards that a new business needs
to be aware of..............................................................................................................................3
4. Different laws which is needed to be followed by organisation and there potential impact on
company......................................................................................................................................3
5. Detailed account on different types and classification of business organisations in the public
and private sectors, providing specific examples to illustrate different legal structures with
their advantages and disadvantages............................................................................................4
6. How different organisations are managed and funded in both public and private sectors......6
PART 2............................................................................................................................................6
1. Brief overview of Contract law, employment law, Company law, etc...................................6
2. Salient legal points of each case..............................................................................................7
3. Suggest an appropriate legal solution to each of the problems...............................................7
4. Provide justification for the advice and solution given...........................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Business law is defined as the branch of law which tells that how any of the business
organisation can be managed in systematic manner for achieving the goals of an organisation. In
context of the business firms, it is necessary because it will help to take business decisions which
are required to be taken at each and every steps. In context of the file, it is has been categorised
into two different part. In part one, there will explanation that what is legal law and how it affects
the business organisation. Even there will be explanation that how company can be setup and
what are the basis requirement which is needed to be considered. In part second, three different
cases will be solved in which it will be explained that how issues can be resolved.
PART 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.
Legal system is defined as the process for interpreting and enforcing any of the new law
within the nation. It explains about the rights and responsibilities that a person should follow
while living within the country where it is based on two different law i.e., civil law and criminal
law. In context of UK, it has fixed pattern of laws and policies where each and every regulations
need to be considered. The power of taking any of the crucial decision is in the hands of
Parliament house. There policies are non unchallengeable because as per the laws and regulations
of Royal Ascent Act 1961 no one can raise question against the decision taken by queen. There
are number of sources of law in UK while help to commence different types of laws and
regulations within the country. Beneath, there is the detail explanation about it:
 Act of Parliament: It is the source of law in UK which have the power to commence or
amend any of the existing law for future changes. Whenever they commences any of the
law, it is necessary member of parliament must take prior approval in order to make bill
as a law.
 Common law: It is the law which ensures that law will remain common in each and
every geographical area. This laws are creates by higher level of court which even binds
the lower level of court. This law is helpful in taking the decision in court where there is
no solution available from the side of statutory law.
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 European Union law: It is one of the power source in UK which commences laws. They
have the power to interfere in the legal matters of the company. It will help to support
house of parliament as it is not possible for them to commence each and every laws
single handedly. Also, it is one of the main source for UK which have commenced more
then half of their laws and regulations.
In any of the country, there is the huge of ruling government as they are the one who
decides what is right and wrong for the better future of nation. In context of UK, member of
parliament have been classified into two parts i.e., house of common and house of lords. For
commencing the law, firstly is necessary for member of house of common to draft the bill so that
further decision can be taken on it. The detail explanation about the bill is discussed below:
 First Reading: The primary work of member is to read out the drafted bill and provide
the suitable title so that bill can be discussed further in next step.
 Second Reading: It is one of the stage where available member in second reading decides
that whether bill is suitable or not to discuss at other stages. If majority thinks that it can
be discussed at other stages as well then it is forwarded to other level.
 Committee Stage: It is the stage where it is important for the member to take necessary
steps that what are those points which can be still improved so that chances of obtaining
better results increases.
 Report Stage: In this particular stage, the member are given the responsibility that they
must amend the points committee stage things that further improvement can be done.
 Third Reading: After completing all of the necessary steps, it becomes important for the
member of third reading to do voting and come to final result that whether bill should be
passed or not. For passing, majority of member should agree on it.
 House of Lords: It is the stage where all of the above mentioned steps should be
conducted again so that further steps can be taken and necessary changes can be done. It
automatically improves the level of bill so that it in future better results can be obtained.
 Royal Assent: The stage where Queen has to take final decision that whether bill should
be passed or not and for that her approval is must. If she passed it then bill converts into
law or Act.
Statutory and Common law are two most essential law for taking any of the business
decision but even it helps to declare any of the decision within the premisses of court. Talking
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