The scenario of this report determines that Business Futures Ltd is a business consultant that wants to gain understanding over English legal system. In this regard, they are contextualizing the business law to analyze some practices as:
- Evaluate the role of legal system.
- Analyze the influence of law over the business.
- Identify the legal solutions of a business problem.
- Discuss a legal solution which are based on upon alternative legal advice period.
Business laws are designed for regulating and controlling various exploitative activities in order to create a nation free from wrongful conducts. Their main objective is to prevent innocent people from getting misused by implementing various relevant acts and obligations. Business future is consultant firm whose main motive is to suggest new start-ups towards expansion process in order to gain maximum benefits (Mann and Roberts, 2011) . County pine is a sole trader by having impressive accounts background due to which consultant firm is encouraging them to convert their business type by single proprietor to limited company. Therefore, assignment is going to highlight various sources of laws and their origin by throwing lights on several past cases. Along with this, various employment and contract norms are also outlining in this project for understanding the significant of employees at workplace. At last, report is framing an appropriate methods of resolving organizational conflicts for attaining specific objectives.
P1 Sources of law
In order to form an organisation it is necessary to comply with the laws of business. There two types of sectors in a business, private and public sector. A private sector is such. In which a company is dealing with private shares.
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Apart from that there is a Sole trader, which means, functioning of business is done by an individual. Also, that person is liable for the profits and debts of such business.
A partnership firm is another way of establishing a company, it is basically of three types, unlimited, limited and limited liability partnerships. In this case the client is explaining his business so for the formation i=of a company he as to follow the rules of forming a company. It is necessary to from a memorandum of association, which provides an information of the capital and shares of the company. Also there is an Article of Association, which is comprise of the procedure of the functioning of a company (DAILYKIEFF and WILMARTH JR, 2014).
It is necessary for a company to get register themselves by the Registrar of the Company. Laws are essential for entire corporate world because it helps an associations while running their business entity by applying major acts, norms and beliefs. However, legal bodies are playing very crucial role in preventing overall society from discriminatory activities. First or foremost objectives is to protect buyer or seller while involving in various types of contracts by taking corrective measures. At the same time it has been understood that in UK laws are classified into civil and criminal as well as apply it in various ways. Apart from this various incidents are also incurred in society on daily basis due to which legal bodies get enforced to amend various types of acts and norms. Additionally, number of origin are identified that is discussed as follows:-
Formation is law is done for making a clear a rule about what is right and what is wrong. Law play crucial role in removing confusion and assuring that every person get equal rights. Below are some sources of law: