Business Law: Sources, Types of Organizations, and Dispute Resolution

This report provides an introduction to business law, covering various sources of law such as common law, legislation, and commissions. It explores the role of government in law-making and the applicability of statutory and common law in courts. The report also examines different types of business organizations, including sole proprietorships, partnerships, private companies, and public companies, along with their formation and management. It differentiates between legislation, regulation, and standards, and critically evaluates the UK legal system, highlighting its strengths and weaknesses. Furthermore, the report discusses the role and impact of Alternative Dispute Resolution (ADR) in resolving business disputes.

BUSINESS LAW

INTRODUCTION
Business laws are the laws which helps an organization of business nature to establish
itself within the limit of laws of that particular country or society. All business organization has
to follow these laws as they are statutory reforms which leads towards formation of business
organization within the limitations of law. In a simple ,manner these are set to be those
regulations that are formed in order to make an business organization to set- up in strong
manner. These are also known as corporate law because they deal with corporate issues within an
organization. Nature of these laws is wide because they consist of an tendency to deal with issues
which create problem for an organization to grow. In this file things that si going to be covered is
sources of law, types of organization, its formation funding, management and both advantage,
disadvantage. Also various types of laws are discussed. Then in the end solution and impact of
ADR is solving an dispute is being explained.
TASK 1
P1 Explain various sources of law
Law is considered to be an important element of an society which leads towards
formation of discipline and peace in society. For forming of these laws various elements are
necessary to be there. These elements formed as sources that is important in formation of
concrete laws(Amariles, Bassilana and Winkler, 2018). Such sources are very much necessary in
a manner that all kind of resources together provides a base that is necessary for the formation of
law. Such resources are also considered as base of law and its help in gaining sustainability
within laws and its various aspects. These resources are explained below and they are:
Common Law: These are formed from the statement that has been given through judges in
court to neutralize the affect of an negative law over society. Judgments passed by the judges are
maintained as an record to utilize in future for an similar case. All summary of these are
maintained under report. Such kind of laws are present in the form of report that is known as law

report. It contains various kinds of judgments and cases that is related to similar kind of situation.
These laws are very helpful in provided concrete structure within an case.
Legislation:In this source parliament forms an important role while amending of laws that is
going to be helpful for an country to grow and maintain disciplines in it. These are highest
authority of forming law in UK(Hiller and Shackelford, 2018). This is considered to be an
important part of law because it gives an proper procedure required for formation of law and
various type aspect related to it.
Commission: These are commission that has to be formed for analyzing of an situation that has
been created out of an law which has not been implemented properly . This situation is also
responsible for preparing an report over impact of law and marking out all flaws in it. Such kind
advices that has been given by the head of the commission. In such a way that the law can be
improved and all flaws to be covered in it.
P2 Role of government in law making and applicability of statutory, common law in
courts
Government is one of the most important part of forming laws and policies which are
going to impact over society. These kind of policies provides an concrete structure and proper
mechanism to be followed. It is considered to be an highest authority to form laws. Bill becomes
permanent law only after Royal assent. Also for implementing of these and framework has to be
prepared which has been divided as follows:
Executive Role: Executive has an important role in forming of policies that is to be
applicable all over UK.. This consist of Prime Minister and all other cabinet minister. Executive
are responsible to presenting of bill within the house of parliament.
Legislative role: According to this all laws are to be formed through the legislative only
by following of aspects that has been there known as procedure in which an bill is presented in
front both the houses part of an legislation and discussion is done over negative and positive of
an bill presented. It is the duty of the legislative to discuss this bill in detail with both the houses
and then sending it for getting Royal Assent.

Judiciary role: Judiciary has created effect by considering passing of judgment helpful in
law formation. Also forms base of matters related to it. This help in maintaining of law and order
in society. They are also responsible for interpretation of law within the scope of society. This
means that if any kind of law is causing harm to society then it can interpretate that law in such a
manner that it can be formed again. There proper procedure under judiciary for punishing the
person violating the laws.
Common Law: Under this law judgments are being passed by judges only after hearing
the facts and issues have been heard properly by the judges. On the basis of this a judgment has
been passed that has covered the loophole which exited in law related to crime. Under similar
situation formation of new law is not required. Law interoperated by judges previously can be
used in it.(Heminway, 2016).
Statutory law: Such laws are those concrete form of laws which are being formed after
going through a proper discussion that has been done by the government and its authority. Also
under these laws rights of citizens is covered which are very important for them. These laws are
applicable in all types of cases that are being heard in the court and also various statutes are used
to given punishment in various types of cases. These laws are those concrete rules that are being
applied in the
M1.Evaluating of legal system in terms of new policies taking place in society
Legal system of UK has been evolving from a very long time and various laws has been
enacted related to various aspects of law. These laws has given an important and strong base to
judiciary of UK. Still lot of loopholes exist in the system of UK and laws formed are not that
much appropriate in matching with the laws of current world. All this is happening because of
the complexity that has been there in UK legal system. All this has made the laws of UK
outdated which is required to be improved. Also various things are responsible for making laws
in UK not applicable properly in it. Also some laws involves such complex procedure that has
made justice system weak and time consuming. Laws related to all aspects should be revised
again.

TASK 2
P4. Different types of business organization their formation and management
Different laws has been made by the UK government related to business organizations.
These legislation have drastic impact upon business and its organizations which have been
explained below as follows:
Company law: Such kind of law is very important and are formed to handel those kinds of
problems that is related to corporate world. These laws gave essential form of rules and
regulations that is important for an organization to follow. These law have setup certain rules and
regulation for helping an organization to grow and establish itself in legal manner. Under these
laws only an company is considered to be an serrate identity then its owner.
Employment law: Under such laws human resources are the most important element that is
presented and hold responsibilities to take care of an employees of an organization. This can be
understood as sexual harassment has been done over an women employee by his higher officer.
Then case has to filed with the help of HR(Giubboni, 2018).
Contract law:Under these laws that are formed in order to give an right of forming of legal
agreement in front of law. These are called contract laws. For example an company WES has
signed an agreement with another company to sell goods to it but does not do so. In this case the
case can be filed for breach of contract.
M2. Difference between legislation, regulation and standard
Legislation: These are those types of laws that are being formed in side parliament and is
made through the procedure government has decided to follow for it. It can become a permanent
laws only after royal ascend. These legislations are very important part of legal system of
country. All laws applied in UK are known as legislation. Legislation also includes various kinds
of aspect in its formation.
. Regulations: They are such type of instruction that has been formed by an company to make
sure that proper enforcement has been done of the legislation within an organization. These are
instruction that is prepare accordingly. Such regulation need are required to be only forb
implementing of laws in an organization.

Standard: It is considered to be that type of rules formed for helping a company to
protect from any kind of legal issues. These standards are being formed by using of legislation
and regulation for maintaining of legality within them.
D1. Critical evaluation of legal system of law
Legal system in UK is of very rigid in nature and slow process of modification is
involved in it. Though it has helped in delivering of justice but still lot of problems are there in it.
Also complexity and lack of transparency has cause due to which laws forming are appropriate
but not effective. Also it has become outdated that has made it not compatible with modern
world (Desai and Kroll, 2017). Various kinds of laws in UK are based over old rules and
regulation that is required to be amended. Also UK is required to be more efficient in delivering
of justice.
TASK 3
P4. Different types of business organization their formation and management
Sole proprietorship: These are kind of business organization that is taken care by an
individual and all activities related to such business is also take care by individual only. This is
one of the most commonly followed form of business which s simple to be formed. Also
complicacies has to deal by the owner himself. Registration of these types of business
organization is done under HMRC and also name of business is required. Such type of
businesses are run by the individual involved in it and he the only owner of the business. Name
of such organization is only kept in order to give it an name. Due to less time consuming and
cost efficient people prefer to open such type of organization.
Partnership: These are those organizations that are being formed through more than two types of
person. Main motive of forming of such type of organization is to attain profit out of the business
done. Problems are to be faced by both the parties together. Profit and loss has to be shared. In a
way this as two parties required to form agreement of deed. Such organization is required to
register itself under the HMRC for its self assessment. All the work is done by the partners and
fund is also arranged by them. Under this kind of firm or an organization various partners come
together to form an business and there main aim is only to earn lot of money and profit.

Private Company:Private type of companies are incorporated within the companies and
are required both management and directors. Also shareholders for its formation. As it is
mentioned under laws that these cannot sell its share in market or to public. In this main
decisions are taken by director and all important documents related to this are to be submitted
into companies house for registration of the company.
Public Company:These type of companies is formed by the public and all its share are
sold in public. It has various owners due to public share selling. These companies are managed
by the persons like its shareholders. Companies of such typoe get registered by analyzing of
number of shares (Cossart, Chaplier and de Lomenie, 2017).
P5 Organizations funding and advantage, disadvantage
Sole proprietorship: These organization has to do their funding by themselves and cannot get
loan from banks or any institution. Sole proprietor are required to arrange all kind of finances by
themselves. Through their private sources.
Advantages of sole proprietorship:
 Establishment not involve any kind of long paper work.
 Financial resources required is also very less.
 Also profit is whole and solely is of owner.
Disadvantages of sole proprietor:
 Liability of business is over the owner himself.
 Also tax in the form of self employment.
 Though complex process is not their but financial crises can occur.
Partnership: Funding of such organization is done by the partners and also by the
individuals, loan from banks. Partnership firm gets funds through it partners all finances ahs
to be arrange by them only.
Advantages:
 These types of firm are formed in easy manner and process required for it is not
complicated.

 Generating of resources becomes easier due to various partners (Bodie, 2017).
 Also all problems are handled together.
Disadvantages of partnership
 Partner are having limited liability.
 Dispute can take place only when harmony is disturbed.
 Dispute can lead to dissolution of firm.
Private Company: Funds are arranged through banks, financial institution, bonds and
through conducting programs to raise funds.
Advantages of Private Company are
 These organizations are considered to be different from its owner.
 Under specific circumstances if the director dies or leaves his position then company
would not get affected from it.
 Such companies are considered to be most reliable form of company.
Disadvantages of Private Company
 Setting- up of such company required huge amount of capital.
 Registration is done through a very long and complex process.
 Also tax has to be paid under companies name.
Public Company: Organization of these kind gain fund by selling of its shares and taking
helps from government organization.
Advantages of Public Company
 Money has to be generated through selling of shares.
 Arranging of financial resources is very easy due to multi pal ownership.
 Various owner brings lot of investment through various sources.
Disadvantages of Public Company

 Main aim of shareholder should vary from directors due to their approaches towards
and organization.
 Control over ownership or real owner cannot be defined due to various owners.
TASK 4
P6. Recommend legal solutions for resolving a range of disputes using examples to
demonstrate how a party might obtain legal advice and support
ADR stands for Alternate Dispute Solving Mechanism in which conflict arisen between two
parties has to be solved. Such mechanism solves disputes without getting parties involved in
complex mechanism of court. Process of ADR is very unique and newly develop. This makes all
kinds of dispute to be solved. ssUnder this various methods are there which are to be followed
and they have been explained as follows:
Negotiation: In this kind of legal solution an negotiator is hired which makes a meeting fixed
between the parties and makes the come to a point where they both agree. For example ZXC ltd
is indulge into a dispute regarding similarity in their product that has affected business of both
companies drastic manner. Negotiation can be used to solve this matter(Bird and Brown, 2018).
Mediation: Under this an third party is being involved in the dispute which acts as mediator
between the parties who have been in dispute with each other. This method can be used only
after first method does not work. For example an employee of a company HJK ltd has been
discriminated by his senior. Then a mediator can be used to resolve dispute.
Conciliation: It is that kind of method that is being adopted in order to solve dispute between
both the parties. It is the process in which an conciliator is hired to make both parties to come to
an conclusion. In this proceedings are related to various types of legal elements like finances,
post and personal interest also.
Arbitration: This is one of the most common method that has been used for solving of dispute
and has certain features that is very easy. Judgment passed in this is applicable over both the
parties. In this an person is called arbitrator hears to both the parties. For example an dispute has
happened between both the parties regarding similarities in there ingredients used to make chips.
So, arbitration can be used for solving of this dispute arose between parties.

Recommendation: After analyzing of all the legal solution that has been discussed above
arbitration is the most effective method in solving of dispute. Due to its cost efficiency and
appropriate way of taking out result is also very effective to make it popular.
M4. Compare and contrast different sources for legal advice and support for dispute
resolution
Legal advice is that kind of advice in which opinion of writing is being done through
lawyer in normal way. At the time client visit an advocate in order to obtain legal advice then it
is his responsibility to given all facts along with the situation. Some advice to be given to him is
as follows:
Free legal consultation: lawyer is required to get into an conversation with his
client and issues and facts is going to be heard.
Legal aid programs:Such services involves an assistance that has been provided to
persons those are not able to pay lawyers fees. Main aim is to give right advice to every
individual in order to maintain legality of justice.That is the most priority.
Self-help legal aid: An person is going to implement those kinds of rights that has been
given to them by the constitution of a country(Allen,2016).

CONCLUSION
From the above assignmentit can be concluded that law related to business has an
important aspect towards an business organization for its growth and development. Frame work
is provided by these laws. Different business organizations has been defines with there
advantages and disadvantages. Also difference between statute, standards and regulation has
been explained. Then ADR has been explained various method regarding it has been told with
various example.

REFRENCES
Books and journals