Report on UK Business Law: Sources of Law, Funding, and Solutions

This report provides an overview of UK business law, focusing on the various sources of law including legislation, common law, judicial precedent, and EU law. It further examines different sources of funding for businesses, such as bank loans, credit cards, crowdfunding, and angel investors, highlighting the advantages and disadvantages of each. The report also discusses various legal solutions like mediation, collaboration, and arbitration for resolving business disputes. Finally, it concludes by emphasizing the impact of company, employment, and contract law on local businesses operating in the UK. Desklib offers this report and many more resources to aid students in their academic pursuits.

UNIT 7 BUSINESS LAW

Table of content
 Introduction
 Different sources of law
 Sources of funding
 Different legal solution
 Conclusion

INTRODUCTION
 Business Law is also known as commercial law or trade law which
is set and passed by the Parliament and government of country.
 This report will discuss the sources of UK law along with the role of
government in making that law.
 Lastly, the report will discuss the impact of company, employment
and contract law over the local businesses.

1. Different sources of Law
 Legislation
 Common Law
 Judicial Precedent
 EU Law

2. sources of funding
 Bank loans: the most common source of funding for the small companies and medium-sized business organization is a bank loan. In this
source of funding bank offers loan to the company on credit bases.
 The bank loan can be for short term as well as for long term.
 In this finical system the organization sign agreement in exchange for money in order to deliver security for repayment of money. The banks
asked for the assets in exchange for the liability provided to the company.
 The interest amount along with principle money is also chargeable by the banks for landing money to the firm.
 Credit card: the company used this as source of funding for the business growth in the market.
 As credit card is an essential instrument which allow individual to lend sum money which can be repayable after several period.
 This will give assistance in obtain money from the account at the period when company is not able to obtain traditional loan.
 Crowd funding: it refers to the amount of capital which is landed to the firm from the large figure of individuals to finance a new business ventures
 Angel investors: they are the private investors who delivered financial banking for small start-ups or medium-sized businesses. This sources of
funding is the risky for the organization.

3.Different legal solutions
Mediation
 Mediation is the process of discussing a dispute with the help of a trained and impartial third party who can help the parties reach an alternative
dispute resolution agreement.
 Some of these are affordable, timely settlements, private meetings, confidentiality, participation in dispute resolution, and often maintaining
interrelationships between the parties.
Collaboration
 Cooperation is similar to mediation in that couples who are willing to work together to find acceptable solutions to their divorce problems can be
successful through collaboration.
 Partnerships are especially beneficial when there is a clear imbalance of power in the marriage. If one side tends to dominate the discussion, a
mediator, who must remain neutral, cannot speak for the less assertive party.
Arbitration
 In arbitration, a divorced couple elects a single neutral divorce arbitrator who listens to the discussions of both parties and makes a decision, just
as a judge does in a traditional divorce court.
 Arbitration is typically used when a couple disagrees with the resolution of a divorce dispute but still wants to keep the divorce out of public
family court.

CONCLUSION
 The report has concluded the four main sources of law in the UK
such as legislation, common law, judicial precedent and EU law.
 Lastly, the report has concluded the role of government and impact
of company, employment and contract law over the business of the
country in which they are operating.

REFERENCES
Books and Journals
 Russell, M. and Gover, D., 2017. Legislation at Westminster: Parliamentary actors and influence in the making of British law. Oxford
University Press.
 Giliker, P., 2018. Comparing UK and Irish law: A special relationship?.
 Chan, H. K. and et.al., 2018. The impact of 3D Printing Technology on the supply chain: Manufacturing and legal
perspectives. International Journal of Production Economics. 205. pp.156-162.
 DeYoung, H., 2020. Napa Green: Funding Nonprofit Social Ventures in Crisis. Wine Business Journal. 4(2). pp.54-83.
 Dolgikh, F. and et.al., 2020, March. Formation of Models for Funding of Political Parties in Europe. In International Scientific
Conference" Far East Con"(ISCFEC 2020) (pp. 3259-3263). Atlantis Press.
 Fatih, A. and Fachrizah, H., 2021, July. Business Coaching of a Local F&B MSME: Building Financial Projection for External Funding
and Measuring Digital Marketing Activities. In Journal of International Conference Proceedings (JICP) (Vol. 4, No. 1, pp. 12-27)