Unit 7 Business Law Assignment: LO1 & LO4 - London College

This assignment solution for Unit 7 Business Law (LO1 & LO4) at London College of Contemporary Arts explores the fundamentals of business law, beginning with an introduction to law and its sources, including statutory and common law. It examines the role of government in lawmaking, the hierarchy of courts in the UK, and an introduction to statutory laws. The solution further analyzes contract law, its essential elements (offer, acceptance, and consideration), and various alternative resolution methods such as legal advice, legal solutions, and arbitration. The assignment provides a detailed overview of the UK legal system, including civil and criminal law, and concludes with an overview of the business law framework and alternative dispute resolution processes. References are also included.

BUSINESS LAW
LO1&4

Content
 Introduction
 What is law
 Sources of Law
 Role of government in law making
 Hierarchy of courts
 Introduction to statutory laws
 Contract and its elements
 Alternative Resolutions


Introduction
Business laws are the laws that has been helping in
forming of an business organization in appropriate
manner possible. Such laws provides a framework
which gives concrete structure within which rules are
being provided for an business organization to perform
its activities in smoother and faster way. These laws
provides step by step procedure and solves issues
emerging in business. .

What is Law
Law is one of the most important factor that is
presented within society and has been help in
maintaining of law and order in society. These are
also known as those set of rules and regulation which
makes controlling of various kinds of crime taking
place in society.

Sources of law
Statutory Law: In this various kinds of amendments
and newly formed laws are being covered. In UK
highest authority that has been given power to from
laws. In this proper procedure is being followed for
making a bill turned into law. It is the duty of
parliament to have proper discussion over bill.
Common law: These are the laws that are based over
an landmark judgement that is being passed by a
court in particular case. In this an report format is
being prepared which consists of summary regarding
case judgement

Role of government in law making
Government has very important role to play in an organization. These
laws are being amended in very important manner and by following
proper procedure that has been given under constitution. Parliament
is the supreme authority.

Role of government in law making
First reading: This is the first step under which bill is
only presented and the name of the bill is being told
to members.
Second reading: Further in second stage detail
discussion is done over bill that has been presented.
All the major and main elements of the bills is been
discussed and voting is being done over the bill.
Committee stage: Detailed line-by-line scrutiny of the
text with amendments is being suggested. Members
start at the front of the bill and work through to the
end..

HIERARCHY OF LAW COURTS IN
UNITED KINGDOM
Legal system of UK is based over various kinds of laws
which has been formed in order to protect society
form various kinds of crime that has been taking
place in an country like UK. In these two crimes are
common that is civil and criminal. In civil law an
individual who has committed a wrong is being
punished. In criminal society at large or an act done
to harm public is being covered

Contract law
Contract laws are those kind of laws that has been made
formed in order to make sure that all rights and duties
is being governed by the parties willing to come into
contract. An contract legally enforceable only when
its meets requirement that has been mentioned within
contract laws. Contract can be based over exchange
of goods, services, money or promise that is made by
both parties to each other.

Elements of Contract
Offer: In this an idea is being presented to another
party for forming an contract. This is only required to
present contract formation.
Acceptance: This means when an offer is accepted by
parties willing to come into contract. In this idea
presented is discussed.
Consideration: Under it all guidelines related to
contract is being covered and discussed by two
parties. It is considered to be one of the most
important part of contract.

HIERARCHY OF LAW COURTS IN
UNITED KINGDOM

Introduction to Statutory Law
Statute laws: These are the laws that has been formed
in written manner or through amendment. Such laws
exists in the books of laws and has been amended by
government that has been helping in dealing with
various situations that or cases presented in front of
court. Laws of these kind are of concreted in nature
and has been used by the courts in case of
emergency.