The following questions are needed to be answered:
- Explain the appropriate legal system and its nature?
- What is the potential impact of law on business and commercial practices?
- Give appropriate formation of business organizations?
- Recommend and analyze appropriate legal solutions which maintain the resolution of disputes?
Business law is a large area of practice that includes several aspects of operating a business. In order to regulate the Business or the organisation acquire commercial law to govern the civil law and deals with issues of both private and public law. Business law contains all aspect of legal regulations that helps businesses to run properly. Present study will be base on Business law that further outline the concept or meaning of various sources of UK laws or explains the role of government in the law making process and how statutory and common law are applied in the justice court. Therefore the study will also explains the type of business organisation and how they legally formed. Besides, how these business organisations managed to collect their funds. At the end of the report segment study will underline the legal solutions for resolving a range of disputes by using and demonstrate legal advice and support.
Discussing the meaning of Parliament is sovereign and also discuss the sources of UK laws.
Parliament is the Sovereign means that it is the superior to the judicial and executive level of government (Crawford, 2015). It is the corn stone of the UK government that applies on the institutions. In other words, parliament of sovereign and the constitution of UK they both are the separate legal entity which are connected by their common subject matters sometimes. There are different model of Parliament Sovereignty such as Manner & form Theory in which parliament set their own rules to make laws in future, parliament can make laws more difficult if they can etc. another model is Unintended Constraints in this model when constitution make rules they will never be removed even by parliament.
Different sources of UK laws
English Legal system
English laws has been running through Anglo Saxon 1925. There are four sources of UK law that controlled by the government such as legislation, common law, European and Union law and the European convention on Human Rights (Thuronyi and Brooks, 2016). The main legal system of the law is based on some mandatory legal position that is based on stare decisions which means judges in the court also have to amend the decisions which is made by the supreme court as they are effectively binding with so many different regulations.
Legislation : Legislation is the law that is created through legislature. This is the constitution which is mandatory to be followed by the all four countries . It consists two important aspect house of lords and house of commons. This has been taken by the organisation system which ever is required for the organisation support system.
House of Commons has majorly consists 65 members of Parliament. In which MP were selected through the vote system and highest number of Candidates will win for a post of member of parliament (Wray, 2016). This common law and emerging system growth opportunity will help to make the better decision making approach to get more relaxed and developing business system.
On the other side, house of lords consists 800 members out of which 600 members appointed through Queen on the basis of approval. House The House of lords which also known by Supreme court this is the court which is not controlled by any other constitution. Even the high court is limited by the decision made in the House of Lords and the court of Appeal.
Common Law : The legal is the another source of legal statutory that certainly support the legislations (Stuckey, 2017). There has been present the common law between England and Wales. Whichever the decision is applicable on the law it has been taken by the senior appellate courts.
European Laws : UK is the member of EU so it has been cleared out the European law has been taking over of the UK law.
Explaining the role of government in law making process and how statutory and common law is applied in justice court.
Role of Government in Lawmaking
Parliament is the most important aspect in the government system of UK. Mainly parliament is responsible for three major core functions in order to represent the citizens interests ton pass laws and to monitor the actions of the government. It has been analysed for the study that in UK the most common form of legislation is that to develop the public bills. Which are introduced by government ministers and change the general law (Cann, 2018). The exact meaning of the system is responsible to measure the systematic performance and dealing high performing challenges task. The role of government (Parliament) is very necessary for maintaining the proper disciplinary approach. That helps to engaged the proper activity and reduce the level of crime. In the process of law making or in parliament system Members of parliament MP has opportunity to develop the draft law before the further process proceed in the system. In this process every member of constitution showing their individual interest in the development process it can help to sustained the higher level of demand and presenting the leading business opportunity (Auel and Neuhold, 2017). In the system of parliament with permanent committees, proposed legislation is introduced formally on the floor of the house. Besides, it helps to deal and managing the work system and formulating the high opportunity and gained to develop the new opportunity in the system. Government has always focus and only ave one aim is to protect the country or overall system from crime and corruption. For that, before making any plan or laws they deeply investigate the situation and find the cause of the issue and also evaluate the impact of the law as well. It helps to make the best law within the company development.
In presidential system the draft of law or any bill has been passed to next committee. If one draft belongs to more than one committee then it will be treated with multiple committees. However, the system is formed and ruled by the very systematic manner to gain the business opportunity and gain (Waiswa and Phelps, 2017). Each and every draft of the law has been need to pass from both the houses.
After that In order of evaluation MP has authority to measure the and review the draft of legislation and make changes and analyse proposed new rules according to them. It would help to better continue the work with next level and also helps to develop and leading the new out goals and leading business. However, in the involvement in the government system members of the committee should be trained and well professionalise to draft the laws and review the processes. Sometimes, in order to get the review committee often take suggestions from external committees to get access the scope of new law (von Benda-Beckmann von Benda-Beckmann and von Eckert, 2016). However, in order to pass the law to the justice court it has been gone through from different categories. Besides, some bills are belongs to annual financial. Different opportunity task will help to better analysis the effective high approach learning material goals.
Statutory and Justice court
The common law differs from statutory law because it is mainly based on the precedent. That is more formed from the legal system that also consists of written legislation. This is very important and necessary for the legislations which are the necessary concept of the business that contributing to its history by taking from the past and giving to the future. On the other side, it also better understand growing the fact that it helps to build up the opportunity and task to gain the highest developing opportunity and gained. Combination of both common or statutory law has been served by the nations in the world. Statutory laws has been approved by different government constitution of a country (Wan and Bramwell, 2015). The purpose of such laws is to justified the government agencies of a country to better develop the understating growth. Along with that it helps to discover the new changes and leading business opportunity. Legal processes is the determination of common laws for a particular case is process that begins with research analysis.
Impact of employment and contract law on the business and also differentiating between legislation, regulations and standards.
Employment law is the constitution which is mandatory for the all businesses to adopt into their business functional activities. However, it is the most important and legal implications that imposed by the government on the companies. Employment law is all about the process where the one employer and employee get into the legal circumstances by creating the agreement with each other (Lobel, 2017). So after that, there are some obligation has been for both employer and employees in which any of the party break the law it would have been facing punishment from the government. Such situations affect the businesses in any of the manner either positive or negative. On the other side, employment law is the most signifiant role in firings and job losses. In that situation business can also loose their image in front of their employees if they found with some illegal activities. Businesses can protect itself from the unnecessary interference like protect discrimination, fair pay, employment privacy, or safety in the workplace. Government develop some set of code of conduct for the businesses so that they never cheated to any of their stakeholders in any situation. This will affect the system and long term challenge for the businesses goals apart from that it affect the business in different context.
How does company can create the highest growing or business activities in order to being the most competitive and growing business task (Mainelli and Milne, 2016). Employment law is involved in the hiring process that does affected company and ineffective learning goals. The main purpose of employment law is designed to protect the rights of the employee and covers almost all aspects of the employer/employee relationship. The impact of the law is very challenging and risky for the companies that better makes the business challenging and ineffective. On the other side, contract law and commercial law can be intimidating topics for any business owner. It is also important to know that the government can change better employability skills and ineffective learning. There are given some impact on the businesses that given by the employment and contract law (Antal and et.al., 2017).
- Employment law and contract law impact business activities when the government regulate some changes in such laws. For example Taxation policy is one of the government policies that affect businesses directly because taxation policy has been decides on the basis of the total revenue earned by the business. All such laws and policies indirectly affect the business environment.
- Employment law directly impact the relationship between employer and employee. In other words, It is mandatory for the companies to regulate their business with ethical environment by implying the government regulations regarding the way they treat tariffs (Oasmaa and et.al., 2015).
- Due to breach the contract before the specified time period company get also benefited in many context and the business opportunity and goals. Some how it affects the business goals.
- Contract law defined the obligations and responsibilities of each other parties that makes an agreement and convert it into contract by creating the legal implications. In order to protect the company image business should need to fulfill the all requirements mentioned in the contract law.
Differentiating between legislation, regulations and standards
Legislations : Legislations is the legal system that run by some rules and regulations made by the government of a specific country. Whatever the laws has been made by the government people of the nation should legally responsible to abide them all as per the required format.
Regulations : Regulations is the detailed document in which all the instructions has been mentioned for carried out rules and administrative laws.
Standards : Standards are differ from regulations, legislation and standards because standards are working on the basis of given specific guidelines or requirements (Mueller and Shepherd, 2016). For products or services. The main purpose of standards are to sustained the quality, safety and efficiency in the functions.
Exploring the nature and different kinds of businesses.
To choosing the type of business is the most difficult job for the entrepreneurs. Although, there are several options for the person to decide with whom they should get register either private, public etc. Here it explains the seven kinds of business for the new start-up which is also helpful for Jane, Penny and Marie
Sole proprietorship : Sole proprietorship is the most less risky type of business in which one single person work for its own profit & loss. Sole proprietorship is the most simplest way to start a business (Lobel, 2017). One single person holds the all responsibilities and liabilities by its own manner. For example Freelance, graphic artist, a shopkeeper etc.
there are some benefits and disadvantage of a sole trader, benefits are it is easy to adopt, cheap investment, one man control, simple tax procedures. In contrary, disadvantage of such process is low profit, major responsibilities, unlimited liabilities etc.
Partnership: In the partnership business it is mandatory to have two or more than two persons in the business with equal investments. All partners in the business has equal authority to take decisions on the basis of mutual satisfaction and growth. Partnership business also has a three forms general partnership, limited partnership, joint venture. Such as Jane, Penny and Marie are the partners of JPM. Partnership business has their own pros and cons.
- Simple process
- Equally sharing profit, loss.
- Opportunity of growth
- Joint and individual liability
- Limited liability
Corporations: Despite of others it is less risky and effective to learn the different advantage and following the business gain and ineffective management goals (Mueller and Shepherd, 2016). Corporations is the kind of business which is refer as a sole sufficient legal entity that is owned by its shareholders. There are some benefits and disadvantage of this business such as benefits are limited liability, ease of generating funds, special corporate tax treatment. On the other side, disadvantage are it is high expensive, time consuming and a multiple of paperwork is required in such kinds of businesses.
Limited Liability Company (LLC) : Limited liability is a kind of amalgamation of the limited liability. It consists different kinds of business nature which are taxed much differently than single entity methods of corporation. Benefits of such kind of business are it is very flexible in nature business owner can run the business by its own manner. On the other side, profit sharing and methods of following different aspect. It has simple process of operational functions.
Non Profit organisation : This is belongs to the third sector organisation which is created for the welfare of the society rather than profit making. Such organisation doe not need to pay tax or any regulation activities to the government because government exempt the tax of such organisation (Oasmaa and et.al., 2015). Such business organization makes the business more influencing and generating the highest amount of effective dealing goals. Non profit organization formed with some group of people with one objective is to protect the society interest and provide help to needy people.
Cooperative : Cooperative list is what known a cooperative or a business that fully owned and operated for the benefits of the members of the organization that uses its services. Besides, that, it also helps to engage with the higher opportunity and gain to maximize the different opportunity.
From the above given businesses people should take the right kind of business that generated the higher opportunity and gain to maximize the different profit maximization goals. In order to choosing the type of business. For that, it is required for the businesses to adopt the systematic procedure and goals.
Critically evaluate the differences between unincorporated and incorporated along with the Advantage/Disadvantage of a partnership.
Incorporated business is the corporation which is separate entity from the business owner and has natural rights. On the other hand, Unincorporated business and the business owner are the same which is personally bear all the responsibility of the business. The same is true with lawsuits against the business.
Unincorporated businesses are the single person business such as sole proprietor and partnership.
Liability for business obligations
Incorporated business are responsible to protect the business owner from uncertainties or liabilities which is occurring during the business process (Oasmaa and et.al., 2015). In some case of any losses and issues business owner is the person who is equally responsible for all losses on the other side, unincorporated business single person is responsible for all their losses and profit.
Differing Tax Rates and Deductions
Taxes is differ for incorporated businesses, it is based on the company size and profit earning ratio per annum. Like if company based on small scale it requires to give low tax as compare to large organisations. In contrary, unincorporated business individual can liable for their own taxes which can be file for individual tax return. This affect the business into different context. An unincorporated business also has some flexibility when dealing with taxes as it can claim personal tax credits that an incorporated businesses can use losses to decreases their personal income.
Costs to incorporate and operate
In order to incorporate the business, the business owner should need to pay some amount of charge. In initial days it occurs low cost which is also depends on the state level. Add in annual filing fees for government and regulatory boards and the costs quickly increase.
Incorporated businesses are liable to pay the ongoing expenses such as purchasing machinery, maintenance cost. But on the same side, unincorporated businesses are free from such expenses.
Paperwork and ongoing filings
Companies or big organisations are responsible to show the annual, quarterly reports in front of the government agencies, incorporated businesses. For that, it is required for the business to focus on the annual shareholders and corporate the meting as well. So in order to say that, incorporated business are liable to maintained such informations and data for the company protection (Thuronyi and Brooks, 2016). But on the same side, unincorporated businesses are not liable or not have to make such forms.
Incorporated businesses are keep running after defeat the one investor. Unlike unincorporated where after ending the role of one person the whole company would suffer. On the other hand, incorporated company has change to grow the business or restart the business by issuing the more stock. But on the same side, unincorporated businesses has some limited scope to grow due to no involvement of any investors and opportunity to raise funds.
Funded sources for incorporated or unincorporated businesses
Incorporated businesses : Incorporated business can raise funds from anywhere. In other words, for incorporated there are several options are available for raising the money for the business activities such as Reserve Revenues, Crowdfunds, loan from financial institutions or venture capitals etc.
Unincorporated businesses : unincorporated businesses are based on one single person. So in such situation, the person has limited scope to raise the funds for their businesses. Unincorporated businesses has limited scope to regain the business opportunity and populate the business opportunity and gain (Slorach and Ellis, 2019). Unincorporated business should need to arrange the funds by their own manner. Like from friends, family or loan from bank etc.
Small businesses or single man holding business has limited scope for the development that retained the business opportunity target performance. Unincorporated business are generally run with small profit just to fulfill the basic and family needs.
Recommend legal solutions for resolving a range of dispute
In context of case one, Champion Limited is an organization which is located in London. It has been analysed that an organisation is facing the financial problems because of which it has to face many of the business issues. Many of its creditors are threatening company related to the application to courts for winding up petition. The insolvency act in UK is the legislation which has been originated by the act of parliament. It is the norm in Uk which provides legal platform for all matters related to personal as well as corporate insolvency.
According to the insolvency lay UK, insolvency can be referred to a situation where an organization fails to repay its debts. Champion limited can sell its assets to make the repaying the debt to creditors. The insolvency law in UK intends to rescue an enterprise which is facing difficulty. It is the legislation which supports firm facing the financial issues in minimizing the losses as well as helps in fairly distributing a burden between the community , workers and creditors as well as other stakeholders. In addition to this, for dealing with the issues related to financial matters, Champion limited can seek legal advice from solicitor (Slorach and Ellis, 2019). They are basically a lawyer those who are provided with proper training for handling lawsuits. Insolvency act is only applicable to organisation registered under the companies act.
In such situation Champion limited can use the alternative dispute resolution mechanism. Negotiation is the mechanism which can be utilized by n organization forb solving the various business. Negotiation is considered to be as one of the best technique for solving the commercial dispute without going to the court (Beatty, Samuelson and Abril,2018.). By facilitating negotiation with creditors as well as bank management in champion limited can ask bank as well as creditors to provide some more time for repayment of loan. It is the best mechanism which will help an enterprise in resolving commercial disputes in confidential manner. Resolving commercial conflicts through negotiation mechanism is considered to be as an effective as it does not have adverse effect on the reputation of an organization (Nyoni and Hart,2018). Champion limited Ltd. Can seek legal advice from solicitor for finding an appropriate solution for the specific business issues.
In relation to the case scenario 2, where the Anderson has been provided with an offer after a period of transitional arrangement with Beta which Anderson has denied accepting. According to the employment law in UK, an organization can file lawsuit against Anderson for not full finning the terms as well as conditions of the employment contracts. The second legal solution is that an organization by filling petition against Anderson in the lawsuit under data protection act bind him from sharing of confidential information with third party. In addition to this, Amber Limed can seek assistance from court in order to get an injunction relief from the specific action taken by the Anderson against organization. It is very much important for management in Amber Ltd, to consider that taking legal actions against Anderson can have negative effect on their relationship.
On the basis of above report it has been analysed the role and the importance of business law in making the business environment more friendly and effective. Study explained the role of government in law making process and how employment and contract law can affect the business activities in which context. The main purpose of the study is the explore the opportunities for the business development process to make the things more better and equipped. Study also justified the leading business opportunity gain that better performed the roles and responsibilities. After that, it explains the types of business is available growing business opportunity. Besides that, it certainly the best and ineffective source of things which controllable and effective working and gain. On the other side, study also explored the business opportunity and gain that better understanding and different opportunity. Further in this report study defined the differentiate between Regulations, Standards and legislation. Certainly it impact the business into the next manner of growing the business opportunity. In order to differentiate the nature of the business, report also explained about the incorporated and unincorporated and the differences of such functions. In the second section of the report is explained about the legal solutions that company could adopt in order to solve the business conflicts and issues. However, the whole study explored the knowledge in the context of business law which makes easier for the company to prevent the business from uncertain impacts and risk factors.
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