Unit 7 - Business Law

Unit 7 - Business Law

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
PART-1............................................................................................................................................3
LO-1 Nature of the legal system.................................................................................................3
P-1 Different sources of law.......................................................................................................3
P-2 Role of government in lawmaking and how statutory and common law is applied in the
justice courts................................................................................................................................5
Statutory and common law application in justice courts...........................................................6
LO-2 Illustrate the potential impact of the law on a business.....................................................7
P-3 Using specific examples illustrate how company, employment and contract law has a
potential impact upon business...................................................................................................7
P-4 Explore how different types of business organisations are legally formed..........................8
P-5 Explain how business organisations are managed and funded.............................................9
Explain managing and funding of different organisations..........................................................9
PART-2..........................................................................................................................................10
LO-4 Recommend appropriate legal solutions to resolve areas of dispute...............................10
P-6 Recommend legal solutions for resolving a range of disputes using examples to
demonstrate...............................................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Business law is a set rules and regulation which sets standards, organises companies and
manages all departments of them from a legal context. The legislation needs to organise and
amend new laws as per demands and need in society. It helps in establishing correct structure
and shall impose correct utilisation of law. This is done for correct purpose of rendering correct
advices as per new amendments and various other issues. This concept can be explained through
various procedures, in this file its explained through case scenario's and other different sources of
law. This file revolves around all main concepts of business law, it contributes towards solving
disputes, regulating acts, proper procedure of creating laws and giving correct advices in case of
disputes between two individual or an organisation (Batlan and Bass, 2018).
MAIN BODY
PART-1
LO-1 Nature of the legal system.
P-1 Different sources of law
There are basically four purposes of law which are to be followed while regulating such
principals. These are firstly to establish standards, second is to maintain proper law and order,
third is to solve disputes and give correct advices and in last its protecting an individuals rights &
liberties. The main aim of evolution in law can be understood after understanding its historical
evolution need. This can all depend from all such customs and belief's of society plus can
regulate from opinions of a jurists and other historical changes which led to such developments.
If this can be divided in two categorisation it can be bifurcated into religion and morality, which
boosts one to develop into better zone (Burton, Kavanagh and Brigham 2019).
There are mainly five prominent sources of law, which can define and expand it on different
levels. They are mentioned below in brief:
 Constitutional law: this law is created for betterment of society and most major
decisions and acts which are created for country, are taken by this department. The
legislative fictions her have to represent correct set of rulings as per requirement in law.
 Statutory law: these laws are very rigid and immutable in business law. They are not at
all flexible in nature and cannot be moulded to use as an extra benefit law. These laws are
read and meant as they are. Interpretation cannot work here as they have to follow up[ the

same meaning no changes can be made here. These are generally laws which are either in
favour of national interest or policies which are helping country to develop (Coleman and
et. al., 2018).
 Treaties: These were originally created even before any government applied law was
formulated. This was between nations which were doing business on basis of such
treaties. This includes things which were required to make trade and exchange price or
goods as well. When new laws was created several treaties were converted into laws to
make them permanent and many other were dissolved. Some are still remaining between
states or between two nations as well to maintain long lasting relationship they share.
These are good sign of a bond between two nations or states and portrays trust & loyalty
towards each other. Any country to be successful shall have several; treaties which are
actually followed correctly in nature.
 Administrative regulations: these are created for betterment of society and shall be
made so that once ruling party administer country , they shall have some set of basic
principals which cannot be changed in nature. These are formulated to make all nations
and there cities, work in proper formulation and help them in created better impact over
the society.
 Common law: this law is to create and administer rulings as per he different impacts in
nature. This law helps in cases which needs judgements as per requirements of incidents
happened in case. Here, judgement sometime over rule law as well or create space to
create new ones for benefit of society.
Court Structure And Organization
DIFFRENT TYPES OF COURTS
Civil courts: these courts are created to work upon cases which are private controversies,
including personal disputes of individuals or organisations. General public are not included in
litigation procedure, interest in them they are limited in nature and give acceptable rules &
regulations to make them work in disciplinary proceedings. This forum is created for resolving
disputes and issues are recognised as per requirement. In such procedures interference of civil
courts is considered voluntary (Epstein, 2018).
Criminal courts: these courts generally address cases in which people are accused of
performing a crime, in which trial run decides weather such individual is considered guilty or not