Business Law: Sources of Law, Government Role & Impact on Businesses

This report delves into the core aspects of business law, elucidating the various sources of law, including the European Union Parliament and common law. It clarifies the government's pivotal role in lawmaking, detailing how common and statutory laws are applied within justice courts, emphasizing a five-stage process. Furthermore, the report examines the significant impact of contract law, company acts, and employment acts on local businesses, citing the Fisher v Bell case as an illustrative example of company act application. The conclusion underscores the importance of adhering to employment, company, and contract laws for the sustained success of organizations, highlighting the retention of skilled employees through fair wages and the prevention of unethical practices. This comprehensive analysis emphasizes the positive influence of these legal frameworks on business growth and success. Desklib provides access to this and similar resources for students.