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Unit 7: Business Law Assignment Sample

   

Added on  2021-02-19

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UNIT 7 BUSINESS LAW

Table of ContentsINTRODUCTION...........................................................................................................................1LO1 Explain the nature of legal system...........................................................................................1LO2 The potential impact of the law on a business.........................................................................4LO3 The formation of different types of business organisations....................................................5LO4 Recommend appropriate legal solutions to resolve areas of dispute.......................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9

INTRODUCTIONBusiness law governs businesses by dealing with different set of laws like private law andpublic law (Reiners, and Wood, 2015). This report will lay emphasis on explanation of nature oflegal system. Different sources of law and role of government in law making along with commonlaw and statutory law will be explained in the report. This report also covers impact of laws onbusinesses. The employment law and contract law will be explain in the report and their impacton business will also analysed and explained. Difference between legislation, regulation andstandards for analysing impacts on business will also discussed in this report. Also, the reportwill discuss about different business organisation formations. The management and fund of thesebusinesses will also explain along with specifying advantages and disadvantages of every type ofbusiness organization. A critical evaluation will also be highlighted for choosing the best amongthe all available business organisation. The report will highlight some recommendation forappropriate legal solutions to resolve areas of dispute. The comparison and contrast of differentsources of legal advice will also be discussed in the report. Also, the effectiveness of suggestedlegal solution will be explained in the report. LO1 Explain the nature of legal systemA legal system is a systematic approach which resolves disagreement and disputes. It alsoprovides norms for people of society. Legal system protects from chaos which is created byconflict between communities and the social groups (Forkert, and Lopes, 2015). Different sources of law The legislation – It plays a significant role in law formation, the law which is formed bylegislature is called legislation. The legislative law is applicable all over the UK unlessstated (von Benda Beckmann, and von Benda Beckmann, eds., 2016). UK doesn't havewritten constitution parliament is legal supreme authority. The legislation has power toinfringe existing law or enact any law. The legislation is important source of lawformation as they can not be forbid while formulation of law in any country. Common law – Decisions made by appellate courts are major sources of law of UK as alegal system which is adopted by Wales and England. This law is formed for the basis ofprinciples which is established by appellate court and apex court. Therefore, this sourceof law provided by higher authority and judicial for lower divisional representatives is anvital law source while formulating law. 1

Act of parliament - An act of parliament is concerned with making changes in lawwhich is existing or making of new law (Guo, Krever, and Teoh, 2016). The bill isapproved by house of commons, house of lord and royal monarch. The bill become lawonly when they all approve this bill by these authorities. It is most important andmandatory source of law while formulation of any law by ministries of government.Convention and Treaties – UK is one of the signatories of European Convention onhuman rights being a member of state council Europe. UK enact The Human Right Act,1998 which enables all the UK courts to protect stated rights in European Convention onhuman rights. UK is a part of United Nations, thus it enact laws which are in relation totreaties and conventions signed by states which is forming UN parts. Therefore, theconvention and treaties are important source of law which is used while formulation ofany law in country.European law – This is a law system which is operate in state members of Europeanunion. Also, the members of European union operate laws of UK (von Benda Beckmann,and von Benda Beckmann, eds., 2016). European Union law is taken into considerationwhile formulation of Laws in UK.European law is also a source of law making in UKlaw. The European union law need to be followed for law formation due to this it is asource of law. Role of government in law making and common and statutory law are applied in court justiceIdentification of need – The ministry authorities of government analyse the legal systemfor the process of identification of need. They also evaluate condition of countryaccording to requirement of need. The ministries of government properly analyses thecountry conditions such an evaluation of crime rates, misconduct, etc. which helps themin providing a basis of law making (Asche, Oglend, and Osmundsen, 2015). Also, theministry authorities analyse and compare the condition of country with the legal system.The need of new law is identified by ministries of government authority after propercomparison of new law or changes in existing law. Formation of bill – The ministers play a major role beginning from identification till theimplementation of new law or either any changes or modification regarding existing lawas per the requirement. The bill formation is step which comes after need identification ofnew law or any changes in existing law (Lynch, Whitaker, and Cygan, 2019). The2

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