Business Law Assignment: Sources of Law, Authority and Business Impact

This business law assignment delves into various aspects of commercial law, providing a comprehensive overview of legal principles applicable to businesses. The assignment begins by defining different sources of law, including custom, constitution, legislation, equity, judicial decisions, labor law, religion, morality, and secondary legislation, and EU law. It then explores the role of legal authorities in law-making, elaborating on statutory and common law applications. The assignment further examines the potential impact of employment, company, and contract law on businesses, illustrated through case studies, and provides legal solutions to business disputes, including arbitration. The assignment also addresses issues related to company formation, legal compliance, and dispute resolution, providing a practical understanding of business law principles. Finally, it includes a discussion of legal solutions based on different countries and concludes with a summary of the key points discussed.

BUSINESS
LAW

Table of Contents
INTRODUCTION...........................................................................................................................1
P1 Define differed sources of laws which organisation is need to comply............................1
P2 Define the role of legal authority in law making and how statutory and common law is
applied. ..................................................................................................................................3
P3 Description on how employment, company and contract law has potential impact over the
business. .................................................................................................................................4
P4 Examine the legal principal and advise Jose gaming limited to pay amount for work he
carried out. .............................................................................................................................6
P5 Define justification for the appropriate legal actions. ......................................................6
P6 Legal solution based on differed countries. .....................................................................7
Legal system of Italy..............................................................................................................7
Advise IG fashion limited to resolve the dispute arbitration..................................................7
Difference between the Institution and Adhoc arbitration. ...................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
The business law is helpful in knowing legal principles which are needed to be applied on
firms. This kind of law can be called as mercantile and commercial law which assist individual
to deal with commercial matters and provide the best solution to their legal issues. In order to
get the success in market it is essential to have legal identity so that individual can trust on their
entity (Allen and Kraakman, 2016). It is very essential fort business owners, manager and other
professionals in relation to have understanding of law which will be helpful in order to make
better decision. In addition to this, the present assignment is covered following things are as
differed sources of laws, role of legal authority in making law, how to comply with statutory and
common law and various cases in which legal solution is need to be implied so that business can
grow their activities in large way. The purpose of business law is to establishing standards,
maintaining order and resolving disputes with the help of legal action (Ball, 2015). Moreover, it
is helpful in order to protect the rights of firm so that firm is able to sustain in market for longer
period. The main object of this law is to provide peace, protection and security to other people.
P1 Define differed sources of laws which organisation is need to comply.
The state is related to sovereign and it is exclusive and most important element in order to
have smooth functioning of business. With the help of laws there can have definite rule so that
human relationship can be developed. The each law is having binding rule which is need to be
followed in order to have protection from violation of law. There are different sources of law
such are as-
Custom- This is the oldest source of law and it is very useful in order to settle and decide dispute
between people. If there is any kind of violation on the ground of customs than it were
disapproved and punished by society. This law is kind of particular rule of conduct which
established in a particular community, local or trade (Beatty, Samuelson and Abril, 2018). This is
helpful in order to conduct the business activities in the appropriate manner. In this it can be true
to said that the custom is the kind of rich source of law.
Constitution- The constitution is set with various ground of rules in order to process business
activities in the effective manner. It is formed with various branches of government such are as
executives, legislative and judicial. It overrides the law and after that it is very difficult to have
amendments in it. This law is inclusive with the basic principles and fundamental freedoms
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which is helpful in order to conduct the activities properly. Under the civil law the all rules are
embodied in codes so that it cannot be infringed.
Legislation- This is the law which has been promulgated with the legislature or governing body
in order to make the process of law in the effective manner. This is the second source of law
which usually takes priority over the laws other than constitutions. In the situation when the bill
is needed to be passed than it is the matter of legislative priorities of government. It works in
order to transforming of customary rules of behaviour into the definite and enacted rules of
behaviour of individuals (Campbell and Boothby, 2016). In the very upcoming time the
legislation will be come out as the chief source of law and legislature will be recognised as legal
sovereign. This is the kind of unique source of law and it works as to making the law and having
binding decision.
Equity- The term equity means fairness and justice, it is important to be the part of source of law
so that all decision can be taken in the effective and efficient manner. The equality is one of the
basis feature in order to maintain the peace and harmony among people. It is need to prepared
effectively so that all function under this can be work in fairly manner (Crane and Matten, 2016).
The term equity refer as to have particular set of remedies in order to conduct business activities
in the effective manner. With the help of equity there can be relief to aggrieved parties in order
to decision so that every person can work with the sense of fair and justice.
Judicial decision- These are act as the bindery decision in order to formulate the business
activities in the proper manner. This can be know as the case law and the application of
legislation can deemed to be the part of laws. This kind of law just interpret the existing laws and
this are not binding source of law (Harner and Rhee, 2014). The court has the responsibilities to
interpret it and applies in relation to specific cases. The court which comes under the lower
category can settle their cases from such judicial decision. The all kind of judicial decision are
come under important source of laws.
Labour law- This is the kind of body of law which works in relation to body of laws,
administrative rulings and precedent which determine the legal action in the right manner. There
certain kind of restriction on the people who are working under the organisation. This is kind of
body of law which is helpful in manner to govern the employee and employer relation in the
healthy manner. In society there differed sources of law in which it is essential to bring timely
amendments.
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Religion and morality- This kind of law are also useful in order to make proper decision among
what is right and wrong (Kitagawa, 2016). With the help of these things can be conducted in the
effectively manner. This is the important element of law in relation to conduct the activities
effectively and this need to be treated as the important source of law.
Secondary legislation- This is also knowns as the detailed legislations. This is divided into two
sources are as primary and secondary. The primary sources relate to orders, decision and
regulations which are issued by legal authorities.
Common law- the common law is the body of the law which is relates to the body of law derives
from similar tribunal and judicial decision of courts. It arises as precedents.
EU law- This law has been divided into two legislation such are as primary and secondary. The
primary laws are concerned with the EU actions. The secondary legislation is inclusive of the
things like regulations, directive and various decision.
P2 Define the role of legal authority in law making and how statutory and common law is
applied.
The legal authority is having rights in order to make law and bring timely amendments in
it. The government work in order to make law as to review, revise and read the all thing carefully
so that better law can be passed. Under this the statutory law is passed by the local legislature
which are called as acts. In this legal authorities works in relation to review, alter and revise the
bills so that effective bill can be passed. If the averment is having majority over the bills than it
can be proceed by house of lords.
There are various number of active members who work as to read the bills if they find
that any alteration is need to be taken than suggested changes are made. After having all the
modification the government works as to accepting or rejecting the given proposal. If such kind
of modification does not get accepted than the specific person who has made such changes will
be called and ask him to get withdrawn and call for division. The making process of law is very
much influenced with the call or division. The advantage and disadvantage of the policies which
are discussed in the cabinet committees (Kotiswaran, 2014). In this the legislation committees
works as to take the final decision whether it is to be rejected and accepted. In this both the
things can be defined as the legislative branch of government play their role as to construct the
laws and executive branch take action as to bring implementation in the laws. The head of the
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executive branch know as the president and they take steps in relation to make laws. A bill needs
to pass thorough various stages before getting approval as bill. The following stages are as-
First reading- At this stage there is need to read the bill and this step just act as formality in both
the houses.
Second reading- The bill which has already reviewed need to be presented in from of
government minister, at this level all the suggestions and views of prescriber authorities must be
heard.
Committee stage- if the bills clears at the second stage than it is need to be referred to the
standing committee in relation to have examination (Kumie and et.al., 2016). There are some
kinds of bills like annual financial bills and other can be present in front of both committees and
standing committees.
Report stage- At this stage the bill which has been examined is need to be to the whole house of
common.
Third reading- This stage comes after the many procedures at this stage the final draft of the bill
is need to be reviewed (Kumie and et.al., 2016). At this stage the bill cannot be amended in the
proper manner.
P3 Description on how employment, company and contract law has potential impact over the
business.
In this given case scenario it has been concluded that he is person named Imad who is
working in design studio. He has decided to launch new collection of T-shirt with the print of
London monuments. After the sometime he has opened his own company and he employed one
employee name as chad. In this manner there are some issues in which can be solved with the
help of following laws such are as-
Company law- The company law is the kind of artificial law. Before, setting of the company the
owner of the must decide about the branding name of entity. With the help of this firm can have
its own authenticity in the eyes of public (Labatt and Forrest, 2016). The individual is free to
decide the name of enterprise but there are few restriction about which person need to be aware.
These are defined in following manner are as-
 It must be unique- The name of the company should not be same as any existing
company. It should have some unique identity from others.
 The name of enterprise should be end with limited and Ltd.
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 The characteristics are as signs, symbol, punctuation are not be permitted.
 There is not any kind of connection with the Hm government, administration or any
specified public authority.
 The name of the company mush be of 60 charters long but not more than it.
 The permission is need to have with any legal authority.
 The signing and documentation process is need to be get done before setting up of
enterprise
Hence, it can be true to said that as per the given case scenario the Imad has placed the name of
the enterprise in wrong manner. Due to this the Abraham has ordered the tower of London
inspired T-shirt because he misunderstood as that the t-shirt will be supply with the printing of
Tower of London. But at the time of delivering of goods he has not found any T-shirt with the
printing of Tower of London monuments. The product name and firm name both are having
different identity (Lieberman and et. al., 2016). In this manner the Imad need to choose the
name of company as per the rules and regulation of Company law. Deciding the name of the
company plays the important role in order to maintain the legal existence. The Abrahm can ask
for the compensation on the part of delivering unsatisfied products. According to the consumer
act the Abraham has right to reject the goods which are of unsatisfactory quality, unfit for the
main aim and not describe. It is need to be done within the 30 days from the date of deliver of
consignment. In this manner he is able to reject the good and demand for full refund in return.
There are differed kinds of laws which is need to be discussed in the following manner are as-
1. Memorandum of association- It is the kind of legal document with the effective formation
of registration process of entity. The Imad need to meet with the all legal requirements.
2. Article of association- This is the documents which contains the overall duties and
responsibility of the enterprise. It is need to be filled with the registrar of companies. The
Imad need to systematically follow with the all rules and regulations.
3. Statement of compliance- This is the document which has certified with the competent
authority that supplied goods or services met the required specifications. This is known as
certificate of conformity. At the time of delivery of good to the Abrahm this is need ti get
filled.
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4. Registration document- This is the document which carried the information like name of
the owner and other important detail which is helpful in order to ensure authenticity of
company.
5. Officers in company- The person who are associated with the company need to be
defined.
6. Shareholders in company- The details about the shareholders of company need tio be
given because they are owners of the firms limited by shares.
Employment right- The employment rights said about the relation with workers of the business
enterprise. On this manner it can be defined as that the worker are having various rights in this
manner he is need to be treated in equally manner. The employment rights defined on following
manner are as-
1. The employer need to be treated in equally manner. There is not to be any kind of
discrimination on the ground of sex, religion, sexual orientation and religious beliefs.
2. He is not allowed to work more than 8 hours in a day or 48 hours in week.
3. He or she is not to be harassed, victimised and need to treated fairly so that effectively so
that he is able to feel motivated.
4. The company cannot force any person to believe on something on the basis of his own
experience.
In the given case scenario it has been justified that the Imad was not behaving well with the
Asian people in this manner he cannot force chad to not serve Asian people. The chad was
having many friends who were Asian. In this the Imad cannot drag his personal issues on the
workplace. The company law never states to have discrimination on the basis of sex, religion or
caste. As per the company law all individual are equal in society (Lieberman and et. al., 2016).
Due to this incident the Chad refused to get employment under him and he resigned.
Consumer rights- As per the consumer right it has been stated that the good which sent to
customer are not faulty and damaged at the time of receiving the orders. The customer is eligible
to satisfy with the products if there is any default than he is able to ask for the compensation.
In the given case the Abram is not received the same order what he has ordered for. In this case
the Imad is wrong because Abraham has order the t-shirt with the printing of tower of London
monuments. The Imad need to brand his company name as per the products he is serving to
customers. In this case the Abraham has the right to ask for the compensation because he is not
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satisfied with the good Imad has delivered to him. According to the consumer rights act 2015
states that in the delivery act it was essential to delivered the product on the timely manner. If the
period of delivery has been delayed than the purchases has the right to terminate the contract and
get full refund in return to it. In this manner as per the consumer act 2015, it also has been stated
that the retailer is able for the good and services until purchaser has taken possession.
P4 Examine the legal principal and advise Jose gaming limited to pay amount for work he
carried out.
In this case it has been justified that the Sam is responsible pot have certain sum of
amount. In this has concluded that as per the legal act of united Kingdom states that if any person
is working and taking steps to his responsibility and in the middle he becomes ill or due to any
accident he is not able to continue with the contract. Then he is able to ask for the compensation
for the amount he has carried out the work (Kotiswaran, 2014).
In this case he has already designed the game but due to illness he is not able to continue with the
contract in this manner he is able to get the amount of services he has paid to the Jose Gaming
Ltd company.
The liquidation is the process which work as to brining the business to get end. At this time he
need to sell out his all assets so that the company became able to pay the creditors. On the
another hand the case been justified that At the time when business get down his financial
condition in extreme manner. In that time he is able to appoint the liquidator who is responsible
to carried out business function effectively. In this manner the Liquidator is appointed to pay the
creditors to the company. In this he is need to take the steps as firstly the amount of money is
need to be distributed among the all creditors of company than liquidator is liable to
compensation for his own amount after that if there is any amount remaining that it is need to be
distributed among the owner of enterprise.
P5 Define justification for the appropriate legal actions.
In this manner the legal cases has been provided in which suggested case solution were
need to be taken in right manner. The legal cases are-
The cases in this relation are as-
In the case of lampleigh v Braitwaite (1615) has been stated that in this cases the defendant
promised to pay to plaintiff. After, the completion of work when plaintiff failed to pay money
than he failed to pay the amount of money (Clarkson, Miller and Cross, 2014). IN this case he is
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able to filed sued over the plaintiff. The courts also has taken the justification on the basis of part
of plaintiff only.
P6 Legal solution based on differed countries.
Legal system of Italy
The legal system of Italy was based on the Roman law as well as French Napoleonic law.
In this there are various kind of separate criminal courts, civil courts and administrative courts
across all over the countries. The Italy jurisdiction power has been divided into the two
distinctive manner. In this the judicial power of this country can be called as the special judiciary
(Blount and Nunley, 2015). The second kind of judiciary power in ordinary judiciary. This is
mainly included the civil and criminal matters. This kind of situation is need to be exercised by
following such are as-
 Trial courts
 Courts of appeal
 sentence enforcement courts
 Juvenile courts etc.
In Italy the court has been divided into the three tire system such are as-
1. At the first level it deals with the all kind of criminal cases, civil cases and Juvenile cases.
2. At the second tire there is an intermediate appellate court which works in relation to have
division of cases into three manner such are as civil, criminal and labour law.
3. At this level this is the highest level of court and which is located near roam (Campbell
and Boothby, 2016). This can be called as the last resort court.
Advise IG fashion limited to resolve the dispute arbitration.
The IG fashion limited need not to go to the arbitrator. There was misconduct in relation
to the breach of contract as per the in deliver of good in timely manner. The arbitrator are
considered as the third party in which they are responsible to pass the that judgement which are
binding on the parties (Harner and Rhee, 2014). In this case the innocent party is responsible to
sue for the compensation of his rights.
Difference between the Institution and Adhoc arbitration.
The Arbitration is the kind of Alternative dispute resolution which works as to
disagreements in the two parties to get resolved on the subject matter of case outside the tradition
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court of system. Under the arbitration the parties to case are referred to the one or more person
and that person is known as arbitrator and arbitral tribunal. In this the arbitration I the term which
works as to resolve the dispute in relation to commercial matters.
In this manner the Adhoc arbitration is the one which is not administered by any one of them are
as ICC, LCIA, DIAC etc. The Adhoc process is more cost effective. This is the kind of more
flexible and cheaper and faster proceeding as compare to institutional proceedings. It is need not
to be kept separate from the Institutional arbitration (Beatty, Samuelson and Abril, 2018). This
process works as to put the heavier burden on the arbitrator to take steps in relation to organise
and administer the arbitration. The main disadvantage stage in relation to this process is that
effectiveness is dependent over how willing parties are agreed over the arbitration proceeding at
the time at a time where there is already a dispute. In this manner they need to put great degree
of effort.
Institution arbitration- Under this the main advantage is in relation to the parties and arbitrator
who is able to assist and advise from institutional staff. They used to provide the final and
binding ward which cannot be appealed. In this the parties to the arbitration can ask for
forwarding the award. In this the parties are responsible to respond within the particular tome
frames (Crane and Matten, 2016). Any kind of bureaucracy in this can lead to delays ans
additional cost. The institution proceeding are covering the large amount of fees as compare to
the Ad hoc proceedings.
CONCLUSION
Based on the above report it has been concluded that business law is helpful in knowing
legal principles which are needed to be applied on firms. This kind of law can be called as
mercantile and commercial law which assist individual to deal with commercial matters and
provide the best solution to their legal issues. The present file has covered the various aspects
like The purpose of business law is to establishing standards, maintaining order and resolving
disputes with the help of legal action. Moreover, it is helpful in order to protect the rights of firm
so that firm is able to sustain in market for longer period. The main object of this law is to
provide peace, protection and security to other people and Differed sources of laws, role of legal
authority in making law, how to comply with statutory and common law and various cases in
which legal solution is need to be implied so that business can grow their activities in large way.
9

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Labatt, J. and Forrest, M., 2016. Teaching Business Law from Literature: Lessons to Be Learned
from the Novel Mildred Pierce and the Road to Entrepreneurial Success. Journal of Legal
Studies Education. 33(2). pp.361-377.
Lieberman, J. and et. al., 2016. Business law and the legal environment.
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