Business Law: Legal System, Sources, and Role of Government

UNIT- 7: BUSINESS LAW

Table of Contents
INTRODUCTION...........................................................................................................................3
PART 1............................................................................................................................................3
1. Explanation of legal system and different source with role of government for making law.. 3
2. A critical reflection of legal system........................................................................................5
3) Key legislation, regulation and standards the business must aware.......................................6
4) Different laws which the business had to follow....................................................................6
5) Different types of business organisation.................................................................................6
6) Examining the funding and managed procedure in business..................................................7
PART 2............................................................................................................................................8
CASE 1........................................................................................................................................8
CASE 2........................................................................................................................................9
CASE 3......................................................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................13

INTRODUCTION
Business law refer to the body of law which is specially designed for the business in
respect of attaining smooth running of the company. In context of business, law are imposed to
protect the rights of the parties in respect of entering into any contract or expanding the business
into different market or the major criteria is to protect the rights of the employees in respect of
dealing in any such matters (Business Law and Regulation, 2019). Laws are mainly imposed in
two manner firstly in respect of civil activities in which any civil crime are undertaken and
secondly it is related to criminal activities in which the crime is punishable related to criminal
matters. Thus, present report carries the matters related to business law in which the nature of the
legal system is defined. It also includes the aspects relating to undertaking the potential impact of
the law on the business. It further carries with the aspects which examines the different formation
of the types of business organisation. Lastly the report carries various cases in which the decision
is undertaken in respect of resolving the issue in business.
PART 1
1. Explanation of legal system and different source with role of government for making law.
The different source of laws: in the English legal system various sources of law are
implemented for employee company in order to behave ethically in society.
Common law:
In the common law judgement is taken by judges sitting in court and give decision as per
the last case study. Like Similar case recently referred in court, in that case judge have power to
take decision as per previous case law (Klin and Nachyla, 2015). The legal rules and regulations
are governed with decision of queen which is mentioned in the law such decisions are followed
by the court.
Act of parliament:
A parliament has specific right to make new law and revise in the existing laws in the
rules of law which is help to make the best decision in judgement process. This is also known a
statutory law that is regulated by states. This provides support to public in order to believe in law
and behave well in society. The laws are revise time to time for bring new development in
society.
Role of government in making law:

Government plays an important role in order to make laws. Laws are made by parliament
process but it start from being a draft legislation formed by public authorities of electing parties
who are served with various issues and problems faced by the public (Cosens and et.al., 2017).
These parties are select a matter which has need to framed with the help of government
authorities. In this process required proper approval of cabinet ministers in order to be presented
in parliament. Without permission a proposal cannot proceed.
Application of statutory and common law: Statutory law: This laws are made in UK with the help of parliament and have a solid
applicability over the whole nation. In that court required to interpret laws with the
existing aids but not have right create dispute over the provision (Allen and Blackham,
2018). For example: Lee v Lee air farming 1960, the rules of companies act 1862 present
at the time was used for determining principles of separate legal personality of company.
 Common law: This can applied in justice courts as getting a building effect over decision
of court through doctrine of judicial precedent (Postema, 2019). This application can be
seen in the case of industry V Bottrill 1999 the rulling of case Lee v Lee air farming was
also applied for defining sole trade can be employed by company.