Various Sources of Business Law
Business law is refers to that rules and regulations that help in govern all the transaction and commercial activities that take place between individuals. Concept of business law is mainly related with two areas, one is related with regulate business operations with assistance of company, agency and partnership (Allen, 2017). Other one is related with govern commercial activities with help of contract. Different legal agencies and bodies are there that develop law to guide business entities to deal with complex issues. European Business School of Management have Schools in various cities in Europe. Various sources of law than a business entity needs to comply and impact of common law on activities and decisions of an organisation is all detailed in this report. In addition to this, role of government in making law is also discussed.
P1 Various sources of law that an enterprise needs to comply
English legal system work with the aim to make the world a place free from discrimination on basis on gender, culture, colour, age and on any other basis in order to decrease the number of issues faced by people due to this. One of the main focus of English legal system is to design rules and regulations that support business organisation in deal with the issues and problems arise during carry out commercial activities. English legal system is divided into two major parts known as criminal law and civil law (Beatty, Samuelson and Abril, 2018) . Final decision is taken by Supreme court in this system as it is known as the apex body. Every part and whole legal system of Europe is control regulate by Supreme court and one of the main aim of this is to prevent genuine and innocent people from exploitation and illegal activities. Day to day operations of residence and crime related activities are deal by various bodies of English legal system. Different sources of law introduce various laws and introduce different acts in order to deal with various type of situations. Main sources of law can be understood by the following points:
Case law: Large number of activities take place in life of an individual that disturb them and at the same time are not seem as good for the society (Blount and Nunley, 2015) . To deal with these type of situation, different legal bodies are there that create law and rules to deal with activities and actions that are good for the society and its people.
Constitutions: This is known as one of the major source of law, various rules and regulations are develop by constitutions that support business enterprise in execute all operation in an effective manner (Disch, 2016). One of the main benefit of this is that it guide manager to deal with the problems that increase complexity of business entities. Government encourage development of different type of laws to control business operations and to find a better solution of problems.
Parliament: Under this, all members of general assembly to defend individuals of society from any kind of problem. This provide ground to business firms to deal with the issues.
All these are the major source of law that develop various rules and regulations which support enterprises in identify the effective solution of problem. One of the major focus and aim of all this is to make the world a better place and without any kind of issue.
P2 Role of government in law making and statutory and common law
Government is known as a major player in creation of law as this provide various grounds to deal with complex issues and at the same time improve performance of business entities. Process of analyse laws in very lengthy and complex process and large number of individual remain involve in this. At first, a proposal covering the major purpose of develop law is formulated. Then that proposal is transformed into bill which support in get consent from all significant parties of parliament (Kubasek and et. al., 2015). A bill can be a private bill or can be a public bill.
Every business enterprise either small, medium or large remain responsible to operate as per the rules and laws. All this help in manage business operations and at the same time remove the grounds of arise conflicts. Ignorance of these laws results in either a legal action or penalty. Mainly, common and statutory are the laws that affect the actions and decisions of a business enterprise.
Common law: This is known as a element of legal system that is obtained from decisions of courts and tribunals. Application of this law remain vary as per the customs of a particular area. This law is apply when a disagreement take place in two or more than two parties, in this court examine the past decision given by court (Robson, 2015). This help in find a effective solution of problem.
Statutory law: These are the specific laws that remain written and imply by the executive. A process is follow to develop these type of laws. Under this a bill is propose by legislative. After that bill is passed through various stages in order to get the consent of all parties before present the same before Royal assent. This is analyse by all judges and then become an act.