Business Law Report: Sources, Impact of Laws, and Business Forms

This report provides a comprehensive overview of business law, beginning with an introduction to the UK legal system, its sources (legislation, common law, etc.), and the role of government in shaping and changing laws. It then analyzes the potential impact of employment and contract law on business organizations, differentiating between legislation, regulation, and standards. The report further explores various business organization forms, including partnerships, sole proprietorships, and corporations, detailing their funding and management structures. Finally, it examines legal solutions for resolving conflicts, such as arbitration, mediation, and negotiation, offering advice on legal support and conflict management strategies to ensure smooth business operations. The report emphasizes the importance of understanding legal frameworks for business success.

BUSINESS LAW

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
LO1..................................................................................................................................................1
P1 Different Sources Of Law......................................................................................................1
P2 Role of the government in the formation or the change of the law in the country..............2
LO2 ................................................................................................................................................2
P3 Potential impact of the employment law and the contract law on the business organisation 2
LO3.................................................................................................................................................3
P4 different types of the business organisation formation..........................................................3
P5 fund and management of the different organisation.............................................................4
LO4..................................................................................................................................................5
P6 The legal solution for the resolution of the conflicts and advice the legal support...............5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Business law refers to the law which is governing the business with different set of the public
and private law. In this report major emphasis will be on the nature of the legal system along with the
different sources and the government, common and statuary law. The impact of the different law will
be explained and analysed. The difference between the standard, legislation and regulation will also be
analysed to discuss the impact on the business. The advantage and the disadvantage of the different
business organisation along with the formation of the business organisation will be explained. To
resolve the dispute, the report will highlight the recommendation after the critical evaluation of the
dispute. In this report, the legal solution effectiveness along with that contrast and comparison will be
discussed.
LO1
P1 Different Sources Of Law
Legal system is refereed as the systematic approach to resolve any conflict and disagreement.
Legal system is to provide the norm to the people residing in the society. The legal system will provide
the inundation to protect the loss created by the disagreement.
 Legislation- the law made by the legislature is known as the legislation. This law is applicable
at all the part of UK expect the one stated(Nadirah,2019). It is the supreme legal authority
although the country don't have the written constitution. It is the important law for the
formation of any country.
 Common law- as the name signifies this law provide the maximum authority to the lower
division representative. Apex and appellate principle are the basis of the formation of this law
adopted by the England and Wales.
 Parliament act- the act of the parliament is take into then consideration when the formation of
the new law or the change in the exiting law has to take place. With the signature of all the
three authorities i.e houses of common, houses of lord and the royal monarch then that bill
change s into the law.
 Convention And Treaties- it is the important part in the formation of any law of any country.
The UK is enacted with the Human Rights Act 1988 in w\which the UK has to protect the
rights in European convention(Rakic, 2017). UK is the being state council member in the
European convention of the human rights.
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 European law- While formation on the UK law, the European law in taken into the
consideration. As the European law is taken for the consideration for making the UK law then
the reason is known as the source of law.
P2 Role of the government in the formation or the change of the law in the country.
 Need identification- the authority of the country will analysis the need if the change or
formation of the new law in the country. The authorities will analysis the various statics data
according to which the decision will be taken(Pönkä,2017).. The authority will analysis the
misconduct and the crime happening in the country.
 Formation of the law- the authorities play an imp role in the formation of the law. The
authoritative will formulate the draft that is needed to be passed in the both the houses for the
further development.
 First reading- in the first reading only the formality will take place. The procedure of reading
for the knowledge given to the both the houses
 Second reading- in the second reading the debate on the draft will be executed in which the
pro and cons of the bill be will be discussed by the opposition and the governing body. After
the debate the further procedure will take place.
 Committee stage- after the hearing of the second reading in the house of common, the next
procedure will be take to the need of the amendment of the draft. Same as the procedure will be
same in the house of the lords.
 Report stage- the stage is lengthy as the committee used to examine the bill for the next two
weeks and the next 15 days by the houses of the lord.
 Royal assent- the queen of UK gives the royal assent as the bill has passes the both houses and
recorded in the official proceeding hence the bill is converted into the law.
LO2
P3 Potential impact of the employment law and the contract law on the business organisation
Employment law- the employment law refers to the construction of the law which is considers
to protect the right of the employees along with the building the relationship of employee and
employers. The employer should asses all the rules and regulation for the employees(Nolan,2018).To
avoid costly claims of employment by the tribunal. All the area of the contract and the condition of the
employees and the employers are covered under the employment act. The employment act consist of
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the employment act, minimum wage act and the anti discrimination act. This act helps in the smooth
functioning of the business and increase the productivity.
Contract law- the law which states the working of the procedure of the contract between two
or more parties. The law consist of the all the rules and regulation that are needed to be followed by the
people who have the entered in the contract(Nadirah,2019). The contract saves the interest and the
right of the all contractor and the contractee. The law affects the contract in such a way that no breach
of contract can take place. The implication of any losses and the proper condition of the performance
can be provided to the contract.
All the companies and the business association has to follow the rules and regulation of the law
as it helps them in the smooth running of these business along with the productivity of the
organisation.
To evaluate the potential impact on difference between the legislation, regulation and standard.
Due to having the complicated terminology the difference between the legislation, regulation
and standard often deal with confusion(Monebhurrun,2017). The three of the different terms are
treated under the different heads as the legislation is passed by the legislative bodies, standards are
developed by the development agencies and the laws are implemented by the government agencies.
Standards are the guideline s for making b the things under some specification to ensure the
safety, efficiency and quality. There turned out the reference system that involved all the criteria which
provides the details for the completion.
Regulation refers to the detailed structure or instruction that is compulsory carried out as the
administrative law(Nadirah,2019). The mandatory action is required to be followed when the term
regulation comes around.
Law- the rules made by the governing body of the country and signed by the higher ranking
official to maintain peace and save the interest of the citizen of the country is term as the law.
LO3
P4 different types of the business organisation formation
Partnership- the deal or the agreement to enter into the business as the partners sharing the
agreement of sharing the profit and loss incurred into the business. The partners usually haver the
unlimited liability of the debt of the business. The partnership can be of the mom-and-pop to large as
the accounting firms. The partnership business organisation can have the least two members to share
the profit and the losses of the business. It the clear potential for the enhancement of the value of the
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synergy. These type of the organisation are easy to form and less regulated by the government
agencies. The results of the conflicts between the partners Mostly turned out to be the end of the
partnership in the firm. The partnership usually have the strong potential to attain a greater amount of
the fund from the market.
Sole proprietorship- it is the form of the business in which the single owner is there. The only
looking after the business(Le Breton-Prévost,2016). There are no partners for sharing the loss or the
profit nor it's the risky like the venture capita the advantage of the such type of the business that the
formation and dissolution is more easy but the business would have the limited life cycle as the
businesses owner dies then business die as well. But in these type no regulation is there by the
government hence it has the low start up cost.
Corporation- it is the legal entity working as the separate individual entity. There type of the
organisation usually have the large amount the flexibility is raising the funds from the market assuring
the limited liability. But there is a lot of the regulatory restrictions as they are heavily monitored by the
government agencies. In this type of the organisation, there are usually had the higher level of the
operating and organisational cost.
P5 fund and management of the different organisation
All the organisation has their own different ways to manage there type of the organisational and
fund them. The corporation has the different ways as the sole proprietor has the different ways so the
discussion on the management will be as follows as the sin the term of the partnership. The fund is
managed by the partners by themselves to gives kick start to the business(Jain,2016). The partners used
to bring the funds according to the share of the profit in the company. The bushiness is managed by the
partners as all the risk is bear by the partners. Same as in the sole proprietorship, there is the single
owner who looks after the business so the fund and the management is in the hand of the sole
proprietor only. The sole proprietor doest their own investment in the company and managed all the
management of the organisation. In the case of the corporation/company the fund is generated from the
public in the form of the share and the management is done by the board of the directors. All the
decision are taken by the board of directors according to there need and requirement.
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LO4
P6 The legal solution for the resolution of the conflicts and advice the legal support.
As being working in the organisation as the partners or as the mangers in the company, the
conflict is the part of then working. Due to the different perception and different understanding of the
different people. The conflicts can be raise due the process of the brain storming. But for the successful
management of the organisation, the conflict management is necessary. So the simple main procedure
to follow the conflict resolve.
Arbitration- in the process of the arbitration. A neutral party called as the arbitrator is involved
to carry out the resolution of the conflicts. The third neutral party will look after the work that who is
responsible for the dispute. The arbitrator will not be bias in making the decision towards any
party(Goshtasbi,2016). The decisions handed down by the arbitrator is very confidential. The process
of the arbitration is serious the less expensive method for the resolution of any conflict between any
parties so that the process can be resumed as soon as possible.
Meditation- in the process of the meditation, the professional mediator will give the chance to
the both parties to put the conflict side and works for fully exploration of the grievances. Working in
the Same protagonist sometimes raise the dispute but the solution given by the mediator will put the
stop on the conflict and bring the sustainability in the organisation.
Negotiation- the term negotiation means that the parties negotiate there perception and at the
particular moment they agree with each other. No third party will be involved in the management of
the conflict. The parties p[resent in the conflict will be the agreement of the both parties at some point
of the agreement.
So in the case of the Alex and Ali, where both the person are running in the conflict then the
process of the negotiation can be applied(Rakic, 2017). In the process of the negotiation the both the
parties Alex and Ali will negotiate on there disagreement so that the both the parties will save there
cost band the time.
In the next case Alex should go for the process of the mediation by the professional mediator so
that the keep the mind calm and address the better opportunities' to his work.
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CONCLUSION
As the above report can be concluded that there are the various type of the legal system which
impact the working of the business organisation. The country has the various law and each law has its
different impact ion the business company. There is the legal procedure of having the formation of the
law passed by the house of common and the house of lords. The different types of the organisation
have the different type of the fund management on the different organisation. There are the different
type of the conflict management techniques used by the company to resolve the conflict and bring
then efficient in the organisation.
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REFERENCES
Goshtasbi, K., 2016. Increasing Law Firm Profitability by Instilling Values.Law Prac.42. p.32.
Jain, D., 2016. Preface Vol. 6, No. 2, 2016.IARS'International Research Journal,6(2).
Le Breton-Prévost, C., 2016. Loyalty in Quebec Private Law.J. Civ. L. Stud..9.p.329.
Medina, E.P. and Bagus, P., 2018. A Critique of the Pure Natural Law Approach to Loan Maturity
Mismatching and Fractional Reserve Banking.Dialogi Polityczne, (24).pp.11-22.
Monebhurrun, N., 2017. Mapping the duties of private companies in international investment
law.Braz. J. Int'l L.,14, p.50.
Nadirah, I., 2019, March. CRIMINAL LAW ASPECT IN INDUSTRIAL DESIGN INTELLECTUAL
PROPERTY RIGHT PROTECTION. In Multi-Disciplinary International Conference
University of Asahan(No. 1).
Nolan, J., 2018. Hardening Soft Law: Are the Emerging Corporate Social Disclosure Laws Capable of
Generating Substantive Compliance with Human Rights.Braz. J. Int'l L.,15, p.65.
Pönkä, I.H.V., 2017. The Convergence of Law.European Company Law.
Rakic, I., 2017. Joint Venture Control under the EU Competition Law: Application of the Full-
Function Criteria.Collection Papers Fac. L. Nis,76,.p.731.
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