Business Law Report: English Law, Companies, and Responsibilities

This report provides an overview of key aspects of business law. It begins by examining the English legal system, differentiating between common law and statute law, and discussing the increasing use of tribunals for dispute resolution, outlining both advantages and disadvantages. The report then moves on to compare and contrast Public Limited Companies (PLC) and Limited Companies (LTD), detailing the advantages and disadvantages of each structure for business setup. Finally, it addresses the personal responsibility of sole traders for business liabilities, including the implications for their personal assets and the importance of adhering to regulations. The report concludes with a summary of the main points and a list of references.

Business law

Contents
INTRODUCTION...........................................................................................................................3
PART 1............................................................................................................................................3
Common law as per the English legal systems and difference form statues...............................3
The increase in the use of tribunals for resolving disputes in the certain legal mattered along
with adv and disadvantage...........................................................................................................3
PART 2............................................................................................................................................4
Difference between the PLC and LTD along with advantage and disadvantage for setting he
business........................................................................................................................................4
The personal responsibility of the sole traders for all liabilities of business...............................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................5

INTRODUCTION
Business law also known as the commercial law or the mercantile law have been considered as
their body of rules consisting of conventions, national or international legislations or the
governing deals between the individuals in terms of commercial matter (Kubasek and
et.al.,2020). The business law have been the significant topic in order to make interwind
business transactions in order to have interaction of internationals basis. In this report there will
be discussion of the various aspects of the English legal systems and the increase trends for the
use of tribunals. In addition to that’s the difference between the PLC and LTD will be discussed
and personal responsibility of the sole trader.
PART 1
Common law as per the English legal systems and difference form statues
The English legal systems are the common law of the England and wales which is mainly
comprising of the criminal law and civil law as per each brand having it own courts and
procedures in perfect manner. this have been considered as the originals of the common law
which are based on principles having it own legal doctrines which is distinct form the civil legal
systems since the time of 1189.
The common law is been declared by the judges in order to be derived from the customer and
precedent along with following and application of the principles declared form the previous
cases decides by the senior court (Beatty, Samuelson and Abril, 2018). This have the inclusion of
the both substantives rules such as the offence of murder and procedurals ones such as the
procedure of the rules which is been derived from the inherits jurisdiction of the court.
On the other hand, statue law which id the legal systems formed by the legislations. In addition,
as the law of judges regarding the specific cases are heard in the court. With next to that’s there
statute law is the law that’s is accepted by the majority of the legislator or the member of
parliament.
The increase in the use of tribunals for resolving disputes in the certain legal mattered along
with adv and disadvantage.
Administrative tribunals are the one which is resolving the disputes between their ideas of their
company as they are of law in which the governments have the legislated the conducting of the
reaction in perfect manner. In addition to that tribunals for the resolutions of the traditional state
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to state disputes have been useful in the role of providing the neutral, depoliticized forum for
resolving their which are different through the diplomatic means.
Advantages
This tends to have the greater degree of flexibility in the decision-making powers. In addition to
be simple and cost effectives by dealing in the informal style (Wilkinson, Barclay and Savulescu,
2018). Hearing kept to be privates and work slightly with employment tribunals with dealing the
firm perspectives.
Disadvantages
This have regulation in court there is imbalance of power as the people have the all different
complex and difficult to understand as in most of cases government funding is not available. It
can be more difficult to provide the reason to make the appeals. As there is the imbalance of
power as the people of form the different backgrounds ad diversities as other option of the
domestic tribunal.
PART 2
Difference between the PLC and LTD along with advantage and disadvantage for setting he
business
The public limited company have the trade share publicly on the stock exchanges and the LID
which is trading privately as both have the set rules for the buying and selling of shares. LTD are
incorporated affording the legal level of identifies as well as the right to own the assets and sue.
On the public company have trading the share in their stock exchanges along with the
shareholder being obliged to make the offering of shares before the third parties (Kratzer,
Meissner and Roud, 2017). On the other hand, the shrew in the PLC can be bought and sold
through the stock exchanges as there is no need to make the consolations for the decisions
making aspect. On their other hand the share of the company LTD is cold normality to the close
friends and this can only be done with the agreements of shareholders.
Advantage and disadvantage of PLC
The benefit of raising the capitals through public issues which have the widening in the
shareholder bases and spreading the risk. As drawback is due to more regulatory requirements
and higher level of transparency is required.
Advantage and disadvantage of LTD
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The company is tax efficient dealing with limited liability as the business to be having separate
legal entity and professional’s status. On the other hand, complicated set up and the complex
account leads to negative impact.
The personal responsibility of the sole traders for all liabilities of business.
The sole trader is considered to be responsible for the liabilities of business as they are
considered to be unlimited holding their inclusion of the personal assets, assets which are jointly
owned by another person. Another reasonability is to adheres the stipulates rules and the
regulation for the business practices as to respite and inform the business premise along with
local authorly. Another responsibility is to look after the taxing and emitting the employee
incomes in perfect manner (Brown and Harmer, 2016). The sole trader should have the take care
f the personal debts as here business creditors can have the perseverance’s in order to recoup
the outstanding loans. There are insurance products that are designed specifically to prevent this
situation, such as products and services liability and professional indemnity.
CONCLUSION
From the above file it can be conclude as the business law have been the significant topic in
order to make interwind business transactions in order to have interaction of internationals basis.
On the other hand, statue law which id the legal systems formed by the legislations. In addition,
as the law of judges regarding the specific cases are heard in the court. As there is the imbalance
of power as the people of form the different backgrounds ad diversities as other option of the
domestic tribunal. Sole trader reasonability is to adheres the stipulates rules and the regulation
for the business practices as to respite and inform the business premise along with local authorly.
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REFERENCES
Books and Journals
Online
Kubasek, N and et.al.,2020. Dynamic business law. McGraw-Hill.
Beatty, J.F., Samuelson, S.S. and Abril, P., 2018. Business law and the legal environment.
Cengage Learning.
Wilkinson, D., Barclay, S. and Savulescu, J., 2018. Disagreement, mediation, arbitration:
resolving disputes about medical treatment. The Lancet, 391(10137), pp.2302-2305.
Kratzer, J., Meissner, D. and Roud, V., 2017. Open innovation and company culture: Internal
openness makes the difference. Technological Forecasting and Social Change, 119, pp.128-138.
Brown, J. and Harmer, S., 2016. Business models applied to the private practice setting: Finding
a sustainable model that works for you. InPsych: The Bulletin of the Australian Psychological
Society Ltd, 38(5), p.10.
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