Business Law Report: Analysis of Legal System, Impact and Solutions

This report delves into the realm of business law, exploring the sources of law, particularly within the UK legal system. It examines the roles of government in law-making, the application of common and statutory laws, and the potential impact of law on various business structures, including sole traders, partnerships, and registered companies. The report further suggests and justifies the use of alternative dispute resolution (ADR) methods such as negotiation, mediation, and arbitration to resolve business issues. It also provides recommendations based on the UK's legal framework and the application of legal solutions, while addressing the financial implications for lawyers and the availability of alternative legal advice. The report aims to provide a comprehensive understanding of the legal landscape affecting businesses and offers practical solutions to navigate legal challenges.

BUSINESS LAW

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P 1 Various sources of law that the firm required to comply with.............................................1
P 2 Roles of government in making law and application of common and statuary law in court2
TASK 2............................................................................................................................................3
P 3 Potential impact of law on business......................................................................................3
TASK 3............................................................................................................................................4
P 4 Suggesting adequate solutions for issues of business issues................................................4
P 5 Justification for the utilisation of adequate legal solutions...................................................5
TASK 4............................................................................................................................................5
P 6 Recommendation of solution based on country's legal system and solutions......................5
CONCLUSION................................................................................................................................6

INTRODUCTION
Law simply refers to a set of norms and principles that is applied by government in order
to establish an atmosphere that would be free from crimes and corruption. There are different
types of rules and policies setted by legal bodies for complete corporate world. Thus, it can be
said that business law business law is nothing but the collection of norms that has to be obeyed
or adopted by all kind of ventures either it is small, medium sized or large (Bagley, 2010). The
present report is based is segmented into different portions where by the basic nature of the legal
system has been highlighted. In addition to this, significant influence of law on businesses has
also been discussed.
TASK 1
P 1 Various sources of law that the firm required to comply with
English law is also known as European legislative structure that is expanded over various
nations including past English Colonies. Sources of law deals with the roots or origins of
legislations that is from where and what factors formation of laws take place. It has been
observed that there are several sources of laws which are discussed below :
 Treaties : A treaty is nothing but an agreement in an international law that is entered into
by role players that are sovereign states and global firms. It defines the contracts among
parties engaged in words and also states objectives results of a formal affair. Thus, norm
are formed on the basis of treaties.
 Customs : This is the another root of legislation as most of the rules are formed by
examining the culture, traditions and beliefs of people who are living in different society
and consisting of variant cultures.
 Statutes : This is an official documented legal instrument of a assembly authority that is
used for governing or controlling a city, nation or a state. Commonly, statues declare
some policies by prohibiting or commanding something (Bodie, Kane and Marcus, 2014).
In addition to the above mentioned components, there are various other sources such as EU law,
Equity, Case law, Human Rights Act 1998, etc. that are applied within society for its wellness
and upliftment.
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Structure of European legal system is formed on the basis of hierarchy where by
decisions of supreme court is treated as final and other judiciaries are bound to accept as well as
respect it. Main classification of ELS is discussed below :
 Criminal law : It simply refers to a body of legislation that is associated with crimes. It
command behaviour or activities such as threatening , corrupting, etc. that is endangering
to the safety, property, moral well-being and health of civilians. This means, these laws is
used for solving cases connected to criminals like arresting guilty people, carrying out
interrogation, etc.
 Civil law : It is defines as a body of norms that describes and safeguard the personal
rights of common public. It is used for offering lawful remediation for solving any
dispute and includes all the areas of jurisprudence such as family , torts, contracts law,
etc. This is to be noted that this section of laws do not deals with criminal one (Crane and
Matten, 2016).
P 2 Roles of government in making law and application of common and statuary law in court
Government plays a vital role during formulating legislation. Different types of bills are
revised by legal body which are presented among members of parliament. There is a proper
process or stages for designing and imposing a norm which is stated below :
 In first step, Common election is carried out for selecting the information of
governmental agenda.
 But after that some of the issues emerges in the proposed agenda due to political parties
and situations of socio – economy.
 Then in third step, negotiations is performed in order to conduct joint operations.
 There after in fourth one, determination of problems is carried on.
 In fifth stage, Consultation is taken by important people like board members, political
parties, ministers, etc.
 After that in seventh step, proposal is created by concentrating on social structure and
civilians.
 In next stage, transformation of bill is being proposed through parliamentary counsel.
 At last that bill is being presented during the session of parliament.
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This is to be noted that movement of bill is taken in the parliament by first, 2nd, 3rd
reading, committee, report stages by focussing on chambers. The house of lords and house of
commons finally give approval of bill and bring them into force by transforming it into a law.
Application of statutory and common laws' in the court is described as follows :
 Common law comprises of a regular reforming framework. The principles of such
legislations is in full effect under the magistrate in the court. Hereby, legal decisions is
taken by considering legal documentation in accordance to the cases existing in court.
Criminal division appeal as well as House of Lords takes last decisions in criminal
proceedings as per the level of crime.
 Statutory laws on the other hand involves a written form and are under specific lawful
bodies. Structure of law alters from common and administrative legislations according to
the decision taken by court. In this case, private as well as public acts are involved in
structure of law from certain parts of United Kingdom. Here principles get passed via
houses of parliament for receiving approval and utilises instruments such as secondary
orders, norms and orders as statutory tool (Mann and Roberts, 2011).
TASK 2
P 3 Potential impact of law on business
There are different types of business ventures that exist in United Kingdom. The key one
are mentioned below :
 Sole trader : A sole proprietorship refers to a business which is owned by a single
person. It is very easy to establish and is considered as least expensive among all other
forms of ownership. This is generally followed by small business enterprises.
 Partnership : In this type of firm, two or more individuals involves and give their
contribution for running organisation smoothly. Work, investment, profits and losses all
are divided equally among those partners (Ye and et. al., 2011).
 Registered company : These firms is defined as that enterprise that has filed statement
of registration with the SEC prior in order to release a issue of new stock.
Directors appointed to the board from the central authority under all types of companies existed
in United Kingdom. There are key seven duties or roles of a director that is codified under the
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law named as Companies Act 2006 sections 171 to 177. This is highlighting the common and
even handed principles or legislations. The duties are of director is mentioned below :
171. Duty of acting with in powers
172. Obligated for promoting the success of venture
173. Responsibility of taking self-directed judgement
174. Role to exercise proper care, diligence and skills
175. Duty of avoiding conflicts of interest
176. Obligated to not take profit from third parties
177. Responsibility of declaring interest in proposed arrangement or transactions.
TASK 3
P 4 Suggesting adequate solutions for issues of business issues
Alternate dispute resolution (ADR) is one of the amazing methods that is used for solving
conflicts and barriers that occurs between two or more parties. This tool is treated as extrinsic
means of eliminating hindrances that is taken into use by different nations. This has been
examined that ADR is getting fame within common people also (Swartz, Cole and Shelley,
2010). By taking usage of this technique, an enterprise could solve its issues with the assistance
of a mediator or some third parties. They used to clear the hidden facts and figures and provide
proper solution to the specific party. Generally, the main purpose of Alternate Dispute
Resolution is to provide resolution of disputes happened between two or more parties. This has
been observed that, three different tools are stated below :
 Negotiation : In this technique, third party does not exits. On the other hand, both party
or contractor attempt for resolving problems by doping discussion of relevant information
and data. This tool resulting in a win - win situations that is both of the parties get
satisfied from the outcome (Nichols, 2012).
 Mediation : In this technique, there is existence of third party. They are responsible of
transferring message of one individual to other in order to solve the problems that is
being faced by them. Hereby key mediator is playing a crucial role and whole matter of
conflicts depends on their results or decisions.
 Arbitration : This is a technique where by private judge or voluntary parties are
involved for creating solution of specific issues between two or more people.
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P 5 Justification for the utilisation of adequate legal solutions
The use of lawful solution is good and correct in context to resolve the disputes occurring
among people working in a corporation. Company can take use of Alternate dispute resolution
technique for the same. This is one of the best solution that is also right in the eyes of
government. Here in, firm can take appropriate action for removing disputes. For this,
Negotiation can be the better one as there is no involvement of any other party in this and
conflicts are resolved by doing discussion on the matter and taking appropriate activities so that
both the parties get happy by the end. On the other hand, Mediation is also a good method; but
there exist a third party that acts as a mediator and take final decisions by listening matters of
both persons. At the same time, process of Arbitration is some how better also as here a judge get
involved , so best result is expected without the engagement of any mediator or both the parties
as well (Robson, 2010).
TASK 4
P 6 Recommendation of solution based on country's legal system and solutions
Legal system is a procedure or a process for interpretation and enforcement of law. The
legal system of UK is divided into three areas so it is very important to maintain the law and
minimise any kind of disputes among them.
Role of barrister – lawyers in the system charges different fee for their cases no matter what the
outcome of it instead of it if they accept the conditional fee agreement under which they can only
accept the fee in winning the case. This has a huge impact on lawyers finance as in terms of no
winning the lawyers wont get any fee for their work. But this rule has some how changes in
sensitive cases like criminal cases and family law disputes (Siedel and Haapio, 2010).
Alternative source of legal advice – Instead of going to court for all kind of deputes the law
body can make citizen advice bureau which provides a guideline for legal activities and helps in
solving disputes at a very lad level. Apart from they the make neighbouring advice centre and
legal consultants all over UK which helps in solving problem at their locality.
Both the factors are effective as in conditions of no win no pay policy the lawyers wont be able
to exploit people belongs to lower level of society as well as through making legal bureau it will
help in increasing the process of solving pending cases .
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CONCLUSION
From the above based report, it can be summarized that government plays a vital role in
each and every nation as they are responsible for maintaining crime free atmosphere within
society. English law is also doing the same thing especially for the corporate world. They are
liable to make norms that have to be followed by all firms present in UK and those outsiders also
which do business in that country. In this assignment, three methods of solving disputes within
venture has been described such as negotiation , mediation and arbitration. In addition to this,
stages of formulation of a law has also been described. Apart from this, role of barrister and
other alternative source of legal advice is explained in this report.
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REFERENCES
Books and Journals
Bagley, C.E., 2010. What's Law Got to Do With It?: Integrating Law and Strategy. American
Business Law Journal. 47(4). pp.587-639.
Bodie, Z., Kane, A. and Marcus, A.J., 2014. Investments, 10e. McGraw-Hill Education.
Crane, A and Matten, D., 2016. Business ethics: Managing corporate citizenship and
sustainability in the age of globalization. Oxford University Press.
Mann, R.A. and Roberts, B.S., 2011. Smith and Roberson’s business law. Cengage Learning.
Nichols, P.M., 2012. The business case for complying with bribery laws. American Business
Law Journal. 49(2) pp.325-368.
Robson, R.A., 2010. Crime and punishment: rehabilitating retribution as a justification for
organizational criminal liability. American Business Law Journal. 47(1). pp.109-144.
Siedel, G.J and Haapio, H., 2010. Using proactive law for competitive advantage. American
Business Law Journal. 47(4). pp.641-686.
Swartz, L.B., Cole, M.T and Shelley, D.J., 2010. Instructor satisfaction with teaching business
law: Online vs. onground. International Journal of Information and Communication
Technology Education (IJICTE). 6(1), pp.1-16.
Ye, Q and et. al., 2011. The influence of user-generated content on traveler behavior: An
empirical investigation on the effects of e-word-of-mouth to hotel online bookings.
Computers in Human Behavior. 27(2). pp.634-639.
Online
Alternative dispute resolution (ADR). 2017. Available through
<https://www.citizensadvice.org.uk/consumer/alternative-dispute-resolution/settling-
out-of-court/>. [Accessed on 1st September 2017]
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