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Business Law

Harvard, 3500 Words

Table of Contents

Introduction

LO 1Explanation the basic nature of the legal system.

Task 1

P1.

a.Constitutes the the English legal system.

b.Different sources of law and laws that organizations must comply with:

legal terminologies:
d.differences between a contract law, company law and employment law

P2:

e.Explain the role of government in lawmaking and how statutory and common law is applied in the justice courts.

organisations and jurisdictions of the courts in England & Wales.
LO 2The potential impact of the law on a business:

P3:

a.

LO3 Suggest appropriate legal solutions to business problems

P4 Suggest appropriate legal solutions for a range of business problems, e.g. termination of contract, rescue from insolvency and liquidation

P5 Provide justifications for the use of appropriate legal solutions.

LO4 Recommend appropriate legal solutions based upon alternative legal advice provided

P6 Recommend legal solutions based upon a different country’s legal system and/or a different legal framework.

Conclusion

References

 

Introduction

Business law encompasses all of the laws that dictate how to form and run a business (Abbott, Pendlebury and Wardman, 2013). This includes all of the laws that govern how to start, buy, manage and close or sell any type of business. Business laws establish the rules that all businesses should follow. A savvy businessperson will be generally familiar with business laws and know when to seek the advice of a licensed attorney (Allison and Prentice, 2009). Business law includes state and federal laws, as well as administrative regulations. Let’s take a look at some of the areas included under the umbrella of business law.

 

This Assignment will cover an explanation  of different sources of  law and laws that organizations must comply. We will show the examples how company, employment and contract law has a potential impact upon business. Suggestion of  appropriate legal solutions for a range of business problems. And justifications of appropriate legal solutions based upon a different country’s legal system and/or a different legal framework

 

 

LO 1Explanation the basic nature of the legal system.

Task 1

P1.

a.Constitutes the the English legal system.

English law is the common law legal system governing England and Wales, comprising criminal law and civil law.

English law has no formal codification: the essence of English common law is that it is made by judges sitting in courts applying statute, and legal precedent (stare decisis) from previous cases. A decision of the Supreme Court of the United Kingdom, the highest civil appeal court of the United Kingdom, is binding on every other court.

 

Some rulings are derived from legislation; others, known as common law, are based on rulings of previous courts. For example, murder is a common law crime rather than one established by an Act of Parliament. Common law can be amended or repealed by Parliament; murder, for example, now carries a mandatory life sentence rather than the death penalty.

b.Different sources of law and laws that organizations must comply with:

  1. Constitutions

The Constitution is a source of law in at least three ways. First, it is a source of law in and of itself; after all, it’s the Constitution, “the supreme Law of the Land (Gibson, n.d.).” Second, the Constitution is a source of law because it creates and allocates power between the legislative, executive, and judicial branches of the federal government, which are other sources of law. And third, the Constitution is a source of law because it allocates power between the federal government and the states.

 

  1. Legislatures

The federal legislature is a source of law because it enacts statutes or statutory law (Gillies, 2004). A statute is a law passed by a legislature; and statutory law is the body of law resulting from statutes. A statute—or the statutory law—may also be referred to as legislation. An example of a federal statute is the Occupational Safety and Health Act of 1970 (OSH Act). Congress enacted the OSH Act to support its mission of assuring safe and healthful working conditions for working men and women.

 

  1. Executives

The highest officer of the federal executive branch is the President .The President is a source of law because he can sign or veto bills passed by the federal legislature, issue executive orders, and make treaties. Executive orders are binding edicts issued by the President for the purpose of interpreting or implementing a provision of the federal laws or policies; they are usually directed to a federal administrative agency and its officials.

 

  1. Judiciaries:

The judiciaries are the courts. A court is a governmental body of one or more judges who preside over cases and resolve disputes by issuing judgments. The courts are a source of law for two reasons. First, courts may engage in judicial review. A discussion of judicial review and the common law leads to the concepts of precedent and stare decisis. When a case is decided, the decision is thereafter a precedent, that is, a reason for deciding a similar case the same way. There are two types of precedent—binding and persuasive. Binding precedent is precedent that must be applied or followed by a court. It applies when a lower court is considering a case similar to a case previously decided by the highest court in its jurisdiction. Persuasive precedent, on the other hand, is a precedent that is not binding on a court, but may be relevant and used when considering a case.