Business Law Report: Legal Solutions, Impact and Recommendations

This report delves into the intricacies of business law, commencing with an exploration of its foundational sources and the pivotal role of government in law-making and application. It dissects the potential impacts of employment and contract law on business operations, providing a comprehensive understanding of these critical areas. The report then transitions to examining legal solutions for business problems, offering justifications for their use. Furthermore, it extends its scope to recommend legal solutions based on different country's legal systems, evaluating their effectiveness. The report also analyzes the positive and negative impacts of legal solutions, offering a coherent and critical evaluation of the legal system and the importance of appropriate legal solutions, concluding with an overview of the key findings and recommendations.

BUSINESS LAW

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1 ...........................................................................................................................................1
P1. Sources of Laws...............................................................................................................1
P2. Role of government in law making and application of statute and case laws..................3
TASK 2............................................................................................................................................4
P3 potential impact of employment and contract law..........................................................4
TASK 3............................................................................................................................................6
P4. Legal Solutions for Business Problems............................................................................6
P5. justifications for the use of appropriate legal solutions....................................................8
TASK 4..........................................................................................................................................10
P6. Recommending Legal solutions based upon a different country’s legal system...........10
M1. Effectiveness of the legal system .................................................................................12
M2 Differentiate and analyse the potential impacts of regulations, legislation and standards. 12
M3 positive and negative impacts of legal solutions to business problems........................12
M4 Effectiveness of these recommendations.......................................................................12
D1 Coherent and critical evaluation of the legal system and law........................................12
D2 Importance of appropriate legal solutions......................................................................12
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................14

INTRODUCTION
Business law is a type regulatory framework which helps in regulating business activities
to make them run in effective and in legal manner as well. There are different laws and
regulation which every organization has to follow properly to maintain their legal structure
which can help them in running their business smoothly. This includes all the laws that govern
how to start, buy, manage and close or sell any type of business. Business laws establish the rules
that all businesses should follow. Present report will talk about various business law to work
effectively. It will discuss about various sources of English law available and the role of
government in law making process and how common and statuary laws are applied in justice
court is also be discussed in it. Apart from these topics, it will also explain about potential impact
of employment and contract law on any business and providing legal solutions and its
appropriate justification is explained. This report also provides some legal solutions based upon a
different country’s legal system.
TASK 1
P1. Sources of Laws
Sources are known to be an origin point from where law has been derived. Every state
must work within these rules for governing their territory. It also provides validation for various
regulations.
It is of two types as follows:
International Sources- It is considered as external factors from where the rules are made
or assigned to various nations.
Treaties- Government of a state or a country can sign many international treaties but they
are used for some circumstances only (Scarborough, 2016). These can be related to maintenance
of peace among neighbouring countries or successful conduction of trade activities that can be
beneficial for both member nations and their natives.
European Community Law- It is known to be an important example of International
Law. Any European country that joins European Union has to follow every rule, which is related
to this community such as directives, precedents, decisions and other treaty provisions. It
provides them an opportunity to coordinate together for several purposes.
National Sources- These are the origin points, that are present in a nation and laws are
originated from other internal sources.
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Some of them are discussed as below:
Legislation- It is considered to be a prime source. Law under this criterion is derived
from competent authority. It can have several purposes such as regulation, authorization,
enabling, proscribing, and provision of funds, sanctioning, granting, declaring or restricting any
particular regulation.
Parliamentary legislature formulates many new rules, which includes Act of Parliament
that involves amending, repealing laws that are obsolete. Legislature may provide powers to
other legal lower bodies sanctioning in different areas across a particular nation. In UK, such
delegation comprises of Orders in Council, Statutory instrument and Byelaws. These can be open
for challenging on the grounds of irregularity in processing and power can be withdrawn for any
faults. There are many legislatures whose powers are restricted by constitution.
Apart from this, legislature legislates its power but court has authority for interpreting
statutes, regulations as well as treaties.
Case Laws- These Judicial precedents are based on doctrine of stare decisis and they are
related to Jurisdiction which relies on Common Laws (Anderson, Brodie and Riley, 2017). These
concepts are adopted by system of civil law. Precedent can be defined as law principles
formulated from decisions made earlier. Judgement which are passed, are generally recorded
which becomes significant for application in practical scenario. Every authoritative precedent act
as a guide for those individuals who are involved in decision-making. As compared to other law
sources, ithas advantages of flexibility as well as adaptability, which may allow a judge for
applying the concept of providing justice rather than implementing law.
Equity- It is a peculiar origin source for deriving several rules and regulations. They are
formulated by Court of Chancery but their applications are regarded as discretionary (Cheng,
2018). Major achievements of Equity can be trust, probate, charities and equitable remedies.
There are many equitable maxims, which are present in it.
Parliamentary Conventions- These are not strict in nature but their breaching can be a
serious concern. They are found in legal system. It generally governs many relationships among
House of Commons and House of Lords. They are generally passed by introducing bills, which
are implemented by the government in their respective territory.
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Customs- It is known as 'general custom' and can be normally written. These are
involved in the tradition of individuals that belong to particular society and are practised since
many years. Therefore, the existence become immemorial and are practised as law among them.
Books of authority- These are regarded as major sources for the origin of other kinds of
laws, which might be introduced in current scenario. They are generally used in many cases by
judges for guidance in eliminating its complex nature that tends to create hindrance for effective
decision-making, examples can be theories, which are denoted by several authors.
P2. Role of government in law making and application of statute and case laws
Government majorly has three main functions that can be protecting interests of native
people; it provides an effective structure for governing a nation that comprises of several rules
and policies, which supports a coordinative surrounding that is an essential aspect of a
progressive country.
It plays an important role for maintenance of structure for several legislative entities.
Apart from this, regulations are properly implemented and monitored that are introduced by the
Parliament (Harten, 2016). It provides a source for controlling many policies that regulate
social scenario of a country or a state, which may be directly related to citizens, trade practices
performed in a nation on external as well as internal terms. It formulates and serves basic rights
of individuals in order to protect them from any kind of malpractices, harming their beliefs and
right of living in a country. It makes their native people to understand the essence of several rules
and regulations in a territory.
Government works on the betterment and formulates policies, which can accelerate the
path of development of a society. All the factors that influence living of an individual such as
political, social and economical are regulated by this authorised body. Their agendas are already
predefined during elections, which tend to develop a bond with locals of a particular area that
help to implement certain laws that tends to be beneficial for them at many aspects. It represents
the native of a nation and work on providing them such rules, which are favourable to them.
There are two important laws in a country that are statutory and common laws for civil
individual of a nation. Common laws can be regarded as rules, which are developed in
accordance to preceding rulings regulated by judges. These laws are based on the judgements,
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which are made since many years. They are known to be case laws, which can be categorised in
two types such as one where passed judgements are adopted as new laws and no statutes are
present (MacIntyre, 2018). On the other side, interpretations are done by judges from those rules
that are existing and provide determination of new distinction as well as boundaries. The legal
process involves determining these common laws for a case, which starts with conduction of
research analysis, previous case location that are relevant to a scenario, extracting statement from
them and at last passing verdict for its application on a particular case. These are developed on
every day basis and fraction of a society is not caused due to this. There are no expenses
involved for creating these rules for a nation. At operational level, they are procedural and have
an instructive nature. They are used for solving all those matters which are associated with the
basic rights and interest of an individual who is the native of a country.
Apart from this statutory laws are those which are formulated and passed by the
legislature as well as government of the nation that are acceptable at societal level. Statutes are
considered to be their basis. These laws can be passed by many governing agencies of a nation.
Therefore, federal as well as state government tends to pass these ordinances for cities and
towns. New laws are introduced for meeting need of every citizen, providing solution for issues
and formalising rules which are already existing (Robson, 2015). As they are already written;
thus, needed to be applied for specific scenarios. They are mostly developed by government and
also facilitates their organising and codifying them in certain code laws. Statutory laws cover
every area which are covered by common laws and apart from this also involves those which are
not applicable under case laws. At operational level, they are generally substantive in nature and
can be regarded as written law which are prescriptive in nature. Their interpretation can vary
from to different individual. It generally provides an expression of the will related to particular
governing entity and also considered to be fundamental structure of a legal system.
D1:
TASK 2
P3 potential impact of employment and contract law
These laws are important for regulating the business in an effective manner. It facilitate
controlling of all commercial activities which are essential for accomplishment of its goals and
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objectives. There are two laws which are considered to be important which are discussed as
below :
Employment laws are formulated for providing protection to the rights of worker and
covering every aspect which makes the relationship of employer and employee strong. It is
important for recruiters to comply with various regulations as well as rules (Van Uytsel and
Wrbka, 2016). They generally covers all areas which are related to employment such as
contracts and associated conditions, employee treatment, their salary and hours of working
which is very important to be structured properly so that it could lead to initiate productive
environment. There are matters which are related to sickness, absence as well as time off work
and apart from this many transfers and takeover are conducted. It tends to control many problems
such as matter which are related to discipline of conducting all task and grievances of worker
regarding any aspect which can affect their working. There are many cases in which employee is
exploited on various grounds such a bullying an harassment by other colleague which can be a
serious issue. Hence, it provide protection to them on several grounds. Sometimes, equal pay
becomes a concern due to certain factor such as favouritism that leads to hinder the employer to
provide equal payment to his worker regardless of their, gender, age, religions, sexual
orientation, disability and their discriminating factors. Apart from this, employment law provides
the right for taking leave which can be due to any reason such a sickness, emergency etc. special
concerns are taken for maternity. These rules eliminate any kind of redundancy or dismissal and
apart from this employment tribunals are there which has to be taken care for facilitating
business without any obstacle. On the other side, it also protects the right of employer in a
business institutions such as breach of any agreement by the employee and the issues related to
data threats possessed by employees.. Under this section of rule, many benefit are served to them
such as building up of several positive relational, psychological and health related result which
involves improvement in perception for justice, increase in the satisfaction of work, positive
behaviour and attitude which ultimately provides improvement in the performance rating of an
individual.
Employment laws helps to protect basic rights of workers and facilitate in providing them
various facilities which are necessary for effective working. There are several unfair means
which are adopted by workers to harm enterprises, various remedial solutions are provided under
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this law for them. Also, the voice opportunities which are provided to employees. Therefore, it
is very necessary to work under employment laws.
Apart from this, contracts can be defined as the legal agreement which are done between
two parties for deciding the limit criteria to work within. They are comprised of several
conditions and terms from both sides. Without the presence of a contract, a business cannot be
run in an orderly manner. It protects the interest of both employee as well as employer for
accomplishment of a goal or an objective. It is a framework which lays down all principles
which are used for regulating necromancer and enforcement of certain contracts that are held
between two private individual. The approach for contracting is based on common laws which
aim to protect the basic rights of an individual (Van Uytsel and Wrbka, 2016). As with the
collaboration, they can provide something advantageous to themselves by using potential factors
of each other in an effective manner. It generally leads to increase the certainty level in a
commercial relation that provides a source of confidence to them making it. Without contract, all
the terms and conditions can be ambiguous, which can lead to have a devastated effect on
financial aspect which can make their survival as major concern. There can be a situation which
includes breaching of contracts that can be a serious issue for both the parties. Business uses
these contract for enforcing non-compete agreements. It generally prohibits businesses or
individuals for offering several goods and services in the economy of market. Contract provides
some kind of comfort in order to make people to comply according to their agreements.
Contract laws helps in facilitating successful accomplishment of agreements and also
leads to protect individuals from breach of contracts. These laid to establish commercial relation
which is very important to survive in a market .
TASK 3
P4. Legal Solutions for Business Problems
Every business faces a scenario of problems that creates hindrance in the achievement of
company's goal that can be termination of several contracts which are associated with business
laws, being prone to liquidation as well as insolvency.
In accordance with several activities that are usually conducted in a business.
Termination of contract happens when one of the party does not want to continue the legal
agreement which has been done with other party for a certain mutual interest. Apart from this,
there can be several other reasons such as when a particular party breach the contract that harms
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other group with whom contract has been made (Durham, 2018). It leads to exploit the interest
as well as right which are associated with particular concern for which agreement has been
derived. It can be disadvantageous for other candidate involved in the contract. There are various
solutions which can be provided for avoiding any kind of loss from the termination of contract.
These are discussed as below:
Negotiation- This can be adopted by both parties which tend to provide common solution
for the problem which they are facing. It provides reduction in variation which is involved their
individual interest. This concept focuses on the serving of satisfaction to both parties based on
the objective of the agreement which has been done with each other (Termination of contracts,
2018). It strengthen their relation so that termination of contract can be eliminated and the
solution for problems which are faced by any of the participating party might be provided on
mutual terms. There are several procedure involved in this concept which lead to serve an
effective outcome.
Prior Informing- It is very important to provide prior information to other party before
terminating any contract which leads to provide an opportunity to other group for identifying the
problem which are faced by them and deciding a common solution which can eradicate that issue
so that contract can be continued (Jones, 2017). It also provides chance to other party for finding
out several alter solution which can be adopted in place of that contract so that no disadvantage
could be faced by that party after intermission of particular agreement.
Apart from this, liquidation can be another major issue because it converts the solid asset
of an organisation into cash which can be termed as liquid. It is the situation when the existence
of a company is prone to get extinct due to severe financial losses that make their sustenance in
market to be questionable . Whereas insolvency can be similar to liquidation which means the
scenario in which enterprise is not able to fulfil its financial obligations with their creditors.
There are many solutions for avoiding this kind of circumstances to be faced by firm,
which are discussed as below:
Financial Experts- These individual can be hired for providing expert devices for
handling such solutions in order to find out best way from recovering this type of scenario. Apart
from this, strategies can be made for accumulating sufficient fund for fulfilling. They are hired
but demands a lot of cost which can be problematic for the company.
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External Sources of funds- Various external sources of funds can be considered for
raising the financial mount which is required for a successful recovery from this scenario.
Therefore, taking loan from bank can be a good option which can be very helpful for them. Even
government has provided many schemes for helping several companies to make them financially
strong by providing loan at low interest rate which can be easily fulfilled by company in future
terms.
Mergers- It can be an effective solution for helping the company to recover from a state
of insolvency and liquidation. It involves collaborating with other company who has similar
product in market and operate as an individual entity and only customer and profit are shared
among them. They are done in order to capture some amount of shares in the market which
company is loosing due to financial loss.
Acquisition- It involves acquiring the company which can be done by buying maximum
hares. It can be done compulsorily or voluntarily (Blair and Sokol, 2015). If acquisition is done
without the permission of business owner then it is known to be hostile takeover. Acquisition
can be beneficial when the company is in a state of insolvency which tends to provide a new
direction to the business in an effective manner.
Under the company laws there are preferential creditors which are needed to be cleared
after winding up the whole company. Therefore priorities are set accordingly and they are paid
after selling of organisation.
P5. justifications for the use of appropriate legal solutions
For termination of contract, negotiation is considered to be an important source of
remedy because it provides solution to avoid any kind of stop to an agreement which is done
between two parties for a mutual benefits regarding a deal. But sometimes, there are several
misunderstanding which are created between both that results in the ending of the contract which
can be proved to a big disadvantage for them in business.Negotiation is a process in which the
difference of mind of several people are converted into a mutual interest for accomplishing
various goals for which the contract has been conducted. It includes several process as it is
regarded as a systematic solution. To avoid such scenarios it is very important to perform
negotiation before coming on conclusion as it helps to resolve various issues which are created
due to each other and also provides to facilitate agreements into a new direction.
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In the process of negotiation, first of all a meeting is conducted in which both the parties
keep their condition and terms as well as expectation from the contract for which they have
decided to conduct (Bernstein, 2015). A scenario of various discussion is provided so that all
the doubt and misunderstanding are properly cleared before taking any final decision. Therefore,
a mutual decision is taken out after the facilitation of a meeting.
Providing prior notice can be very effective as it serves a chance for other company to get
prepared and plan some strategies to replace the source of benefits which are provided by that
particular agreement which is going to be terminated. This is a legal way of terminating any
contract as a solution for the reason which can be used for resolving any issue which can be
reason for the ending of this agreement between two parties. It provides a higher chance for
saving the contract from getting terminated and facilitate in building up of effective relationship.
Apart from this, a company can be saved from getting liquidate or insolvent by adopting
several strategies for saving it form getting dissolved. Advices and suggestions can be taken
from various financial experts as it help to provide them an effective solutions after the
conduction of various researches which can be beneficial for the company to make defending
strategies form all those factors which can affect the functioning of a company. These experts
has accurate prediction of future trends which can be used for formulating strategies for the
scenario from which company is suffering (Ashcroft, Ashcroft and Patterson, 2016). Also,
taking loan from the bank can be easy as compared to other sources because it does not consume
much time and the amount which is provided to the organisation can have low interest rate that
can be easily return to bank after the recovery from the stage of insolvency in market. There are
various schemes which has been started by government to support entrepreneurial activity which
can help to support the financial condition of company.
For distributing assets in liquidation to the creditors there is section 45 under
which they must assess the market value of company and should distribute among shareholders.
Under company law, there are preferential creditors that are placed at a hierarchy according to
which to which they are needed to be paid by John.
There is a huge advantage of merger and acquisition process, such as, it can help them for
entering into merger and acquisition is to merge their power and control over the markets as it
gives them the liberty to do so. It also helps them in increasing the value efficiency of the
organization which helps them a lot. It helps in economies of scale which is formed by sharing
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the resources and services with other companies (Mergers and acquisitions, 2017). It ensures to
decrease or minimize the risk of taking innovative steps to manage their financial risk. Another
big advantage of this merger and acquisition method is that it helps in becoming competitive in
the industry and for this they have to be very strong in their field. One of the biggest benefit of
this process is the relaxation in tax.
These also helps in accessing funds or valuable assets for new development. It will also
ensure in increasing their overall performance as well. Merger & Acquisition also leads to tax
gains and can even lead to a revenue enhancement through market share gain. It will also assist
in obtaining high quality staff with additional skills, knowledge of the industry or sector and
other business intelligence. Helps in reducing the costs and overheads through shared marketing
budgets, increased purchasing power and lower costs (Benefits of Mergers and Acquisitions,
2018).
TASK 4
P6. Recommending Legal solutions based upon a different country’s legal system
Legal solutions are those which given in order to work in legal system. Different country
has different legal solution based upon their legal system. Recommending some legal solution
based on a different legal system of different country, which can be helpful in various ways.
Union Establishment
For the regulation of the society smoothly union plays an important role. It has to done
very carefully. Union is a type of structural body which is registered under the government
authority and can help in giving solutions to various issues and problems that are linked with
human rights of an individual (Nelken, 2017). Basically union is a group of people which helps
the individual to resolve its issues which is related to their rights and help them in protecting
them. They are responsible to guide every person about its responsibility. Unions are localized
legal structure which provides essential protection and rules and regulation of various laws and
policies. The principal purposes of union is to raise awareness regarding their rights and basic
rules for essential living of people in a society (Von Glahn and Taulbee, J2017). Every country
should have this Union Establishment as this will help in making improvement in their legal
system which can assist in enhancing their overall performance. This will also help in providing
various defence training and techniques to protect them from crimes which is happening in the
society
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