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Importance of Business Laws

University: University of Warwick

  • Unit No: 7
  • Level: High school
  • Pages: 15 / Words 3799
  • Paper Type: Assignment
  • Course Code: H/617/0736
  • Downloads: 272
Question :

This sample will let you know about:

  • What is the importance of business laws?
  • Discuss the role of government in implemeting law.
Answer :
Organization Selected : N/A

Business law refer to such laws which are complied for business in respect of dealing in accurate activities such as entering into any contract with another party. It also carries the matters relating to entering into sale deed in context of buying and selling of goods or services or also punish guilty in case of breach committed (Armour and et.al., 2018). In UK, company law regulated and formed under the Companies act, 2006 in which they guide business to formed and run business in effective way. Present report is based upon reflecting the overview of the judgement given by Archie Richie and Lawson Solicitors under various condition and also provide effective solution to the parties regarding resolving their disputes by taking corrective action.

This report will cover the matters relating to examining the different sources of law under the English legal systems. It also includes the procedure of making the laws and also its reaction on applying the laws to provide justice to parties. It further identifies the various forms of business and also its effectiveness by imposing legislation, standards and regulation upon business.

Different Sources of Law

In English legal systems, it carries various sources which are interpreted as:

Customs: It refers to such laws which are running from the ancient times. Usually, laws are mainly approved by the queen and thus, it is applied upon the persons, group or companies to work according to the set norms. It is customized depending upon the situation arises in the court (Bayern and et.al., 2017).

Case laws: It is also known as the common law in which the judges refer to the decision of the previous cases and then accordingly the judgement is given. By applying the common law in providing decision to parties, it reflects the accurate decision which helps parties to get right decisions.

Act of parliament/Legislation: It is also known as statutory law in which the judgement is to be given on the bases of written laws mentioned in the constitution (Davies, 2020). In such aspects, written laws are amended due to changes in time and thus the right of the person are protected in better way. They established various laws fro the company to work under the set directions such as Equality act, 2010, Health and safety act, 1974, partnership act, 1890 and also the main important is the Companies act, 1980. 

European law: This law is mainly imposed in respect of securing the right and interest of the UK citizen. It is the duty of the public authority to verify the changes which are attaining in country, so that they can use the law making procedure to amend the exiting laws in country (Beale and et.al., 2019).

Treaties: This mainly refers to the written agreement which is made between the countries regarding helping each other when they both needed to resolve the matters which arise in countries. Get assignment help from our experts!

Role of government in law making

Due to changes in time, it is necessary that laws are amended on timely bases and thus it is the duty of the public authority to identify the changes which are to be made in country (Briggs, 2019). They draft a bill which is to be started in either two houses such as house of lords or house of common. After arriving the bill in the house, it is to be read and further discussion is conducted in chamber. It than further passes on for the second reading and after carrying the debate, it sends to the committee stage where the stability of the bill is determined through voting. It sends to the report stage, after the committee accepts the bill. The third reading is conducted and changes are made and then finally the bill is sent to the monarch. After her signature, the bill is enacted in the country. Get Assignment Samples?Talk to our Experts!

Role of law commission

The role of law commission is to reinforce the laws which results in facing confusion to implement such laws or revising the version of the existing laws. For e.g. in case of smart motorways, the laws of the commission are imposed in respect of wearing the stipulated equipments before driving the smart motorways.    

Applying laws in the justice courts

Statutory law: By applying the statutory law in the court, it results in providing justice to the person through referring the written laws in the constitution. It helps parties to get accurate decision and also the laws are amended due to changes in time (Bull, 2018). In the case of Lee v Lee air farming 1960, the decision to parties are given on the bases of referring written laws mentioned in constitution (LEE V LEE’S AIR FARMING LIMITED: PC 11 OCT 1960, 2020). 

Common law: In this, the judgement is to be given by referring the previous cases and then accordingly the decision is given to parties (Chaffey, Hemphill and Edmundson-Bird, 2019). In the case of Indusstry v Bottrill 1999, the judgement to parties are given through referring the decision of previous cases (SECRETARY OF STATE FOR TRADE AND INDUSTRY V PETER BOTTRILL: CA 12 FEB 1999, 2017).

Effectiveness of legal systems

By applying the legal system in country resulting in managing the disputes in better way and also secure the right of the parties through undertaking any activities in better way. In context of well functioning legal system, helps parties to secure their interest and take strict action in case of facing any infringement activities. 

Different types of business

James and Jordan had various option to choose the business as:

  • Sole proprietorship business: In this business, the individual person is liable to run the business and in case of spouse, they both can be the owner of the company. This can be legally formed when they start dealing in selling or buying goods or services. It is not necessary for the sale trader business to register their business under the companies house. This business is managed by the owner itself and thus manage to borrow the funds from the friends and family (Dorresteijn and et.al., 2016). The advantages of choosing this business is that this business is easy to start and the owner of the company enjoy the profits which they attained during dealing in any activity. The disadvantages of choosing this business is that the person individual had to handle the risk as the person is not expertises in every department and thus had to manage the work individually. 
  • Partnership business: This business is formed when two or more person agreed to share some objectives in business, they enter into the partnership deed in which all the partner are agreed with all the terms and condition mentioned in the contract. The partnership business is legally formed when the partner registers the business under the partnership Act,1890 (Giannakis and et.al., 2018). This business is managed by the partners itself and in respect of funding, they bring equal amount of capital to be invests in company. They can also borrow loan from banks in respect of undertaking the activities at larger way. The advantages of choosing this business is that profits in the business is to be brought by the partner itself and the business not had to pay any taxes. Partner are liable to pay taxes from their own personal income. The disadvantage of partnership business is that in case of death of any partner, the partnership firm will be dissolved. If the negligences of any partner is committed than the losses is to be suffered by the remaining partners. 
  • Limited company: It refers to such company which is limited by shares or guarantee. In this, the liability of members are limited to the amount of share held by them. Limited company are legally formed when they are registered under the companies house and then carrying the business for longer term growth. It is managed by the owner and funding are raised through issuing share to the public in respect of getting high investment (Gill and et.al., 2017). They can also borrow loan from banks regarding carrying the strong reputation in market.
  •  Co operative business: This business is formed by the members who are dealing in providing services to the customer. They mainly undertaken new business or modified the existing business to gain more attraction of employees.
  • Joint venture business: it is formed when two or more person bring the common objectives and then execute the business to gain long term advantages.
  • Franchise: It is mainly undertaken by giving right to other person to use the company name and logo to enjoy the brand image by selling its products or services.

James and Jordan prefer the partnership business as by choosing this business it result in gaining lot of advantages and also they can share losses with each other if the business is not working in the set directions.

Difference between incorporated and unincorporated business:

Factors

Incorporated

unincorporated

Nature

The business is separate legal entity

Thy not carry any such right, as business itself had to suffer risk.

Taxes

They carry the less tax rate

Individual personally are liable to pay taxes.

Registration

It is compulsory to register the business under the UK companies house. 

Not such registration is compulsory.

Difference among legislation, Regulation and Standards

In context of examining the impact upon the business, the legislation refers to the laws which are mainly designed by the parliament regarding managing the business. In terms of regulation, it is stated that it carries various rules and regulation which helps business to work in set directions (Grail and et.al., 2019). The impact of standards in business is related to setting the specific objectives in business and motivates employees to attain such objectives within the set time period.

Company, employment and contract law had potential impact upon business

Company law, 2006 refers to such laws which is specially designed to manage the relationship between the company and its shareholder (Grimshaw and et.al., 2017). The impact upon business is that it helps in monitoring the right and duties of directors to take right decision to secure company from any illegal activity.

Employment and labour law refer to such laws which is mainly imposed to build the strong relationship between the employee and employer (Hannigan, 2018). The impact upon business is that, it simplified the duty of the owner to undertake duty of care for employees, if they are working at hazardous places.

Contract law are such laws which mainly secure the right of the parties if they are entering into any agreement (Hedley, 2017). Contract is formed when the parties fulfil the essential elements of the contract such as offer, acceptance, consideration, mutual consent, capacity of the parties to enter into the agreement.

The impact of all three laws are arises in the case of Pimlico Plumber V Mr. Smith Case, In this case the Smith is the self-employed but working with the Pimlico plumber as the employees by taking certain action which is imposed on employee at work place. Thus, in such manner, they both enter into the contract regarding attaining the work (Ndzi, 2017). As after few years, Smith suffered with serious health diseases which results in causing half body paralysed. Smith demand from the company regarding getting relief from the working hours but in respect of reducing the work hours, plumber company remove Mr. Smith from job. Smith files the suit against the company in respect of not removing him on such grounds and thus the judgement is raised in favour of the Mr. Smith (Pimlico Plumbers Ltd & Mullins v Smith [2018] UKSC 29, 2019).  

Issue

This case reflects the matters of the deal which is finalized under the terms of contract and also it is valid as it fulfils all the essential elements which is mentioned under the contract. In this case, the deal is made between Maxwell and Angelica regarding selling the painting for the price of £500. In respect of entering into the contract, it is necessary that their must be some consideration in which the deal is finalized. Thus, in such aspects Angelica made the payment of 10% of the total amount to fix the rights of undertaking the painting. The contract is made on the condition that remaining amount will be paid once the closure of exhibition is undertaken. Before the exhibition closed, Angelica discovers that Maxwell had negotiated the painting with some other person on the £900. 

Rules

Under the contract act, it is legal agreement which is bound upon the parties to follow all the terms and condition mentioned under the contract. To enter into the contract, parties must firstly offer some valuable things to another party and is such party accepts such offer, in return of exchanging the promise to follow all the terms in right manner (Phang, 2018). Contract is formed when the parties mutually agree on same things and also competent to handle the contract in better perspective. The contract is said to be null and void if they are made under the agreement of committing breach to another party or not performing the contract with the said elements required to form the contract.

Remedies

In respect of facing breach in any of the terms, parties are liable to carry two major remedies firstly to apply for the specific performances of the contract or injunction in respect of performing such duty which is affecting their rights (Poole, 2016). This is supported with the case study which reflects the matters of specific performances as in case of Lamare V Dixon (1873) LR 6 HL 414, the issues is raised regarding not maintaining the promise in respect of keeping the accurate quality of cellars which is fixed by the defendant (LAMARE V DIXON: HL 1873, 2020). Thus, he filed suit against the claimant in respect of not keeping the promise and thus demand for specific performances.

Application and conclusion

By understanding this case study, it is relevant to the similar case as in respect of not keeping the promise which is made between the parties regarding purchasing the painting. As the deal is signed with some consideration money and also promises is to be made regarding paying the remaining balances once the closure of exhibition is stated (Reddy and Jambulingam, 2017). Thus, the contract is legal and also bound by the court to follow all the terms. Angelica can use the remedy of the specific performances of the contract in which they order Maxwell to sell the painting as per the fixed price and perform the contract with the set terms.

The effectivenesses of this legal advice is that, the disputes is to be resolved out of court and also the rights of the parties are not affected in respect of not performing the contract with the set manner.   

Issue

The case is based upon the terms and condition mentioned under the employment law. In this case, the issues is raised between the Nicholas and Newcastle branch regarding shifting the office in London. By not accepting the proposal, Nicholas had been removed from the jobs which resulting in facing major issues of earning or maintaining life. 

Rules

Under the employment and labour law, it is mainly designed in respect of building the strong relationship between the employer and employee. It also helps in securing the right of the employees and also they had to work under the norms mentioned under the employment contract (Reinke and Zumbansen, 2019). In context of termination of employee or removal of any staff members, it is mainly undertaken when any person committed any breach in any of the terms mentioned under the contract. No employees can be removed from the job until the condition regarding attaining such work is mentioned in the contract.

In case of Mr R jakkhu V Network Rail Infrastructure Ltd. The issues which the R Jakkhu faced is relating to not accepting the offer which is made by the network rail in context of shifting the job location (Mr R Jakkhu v Network Rail Infrastructure Ltd: UKEAT/0276/18/LA, 2020). By not accepting such offer, Mr R Jakkhu removed from the jobs which they claim that this terms is not mentioned under the contract.  

Application and Conclusion

By referring this case which is similar to the recent case, it is stipulated that employment law mainly secured the right of the employees if they are facing any unfair terms which is not mentioned in the contract (Roberts, 2018). Nicholas Jakob had right to appeal under the employment appellant tribunal which is specially designed for the employees who are facing any type of disputes at work place. Through this manner they can get relief from such disputes on speedy bases. The decision of the disputes is to be given within 14 days after the appeal is made.

The effectiveness of this legal advice is that, it helps Nicholas to get speedy disposal of the conflict raised and also continue with the previous job as no such specific term is mentioned in the contract (Singer, 2018).   

Issue

In this case the issues is raised regarding carrying negligences at work place in respect of avoiding the dangerous activity which is attaining at work place. The case is between the Johnson V Construction company in which the issues are faced by Johnson regarding not reading the notice board which stated that the railing are not permanently fixed yet, Do not lean on it. Johnson didn't see the board, and he injured with his back and knee.

Rules

Under the law or torts or negligent act, it is the duty of the owner to take care of their employees regarding providing accurate duty of care, if they are working at any hazardous places. In case of failure in performing the duty, they are liable to pay damages to the losses incurred. Negligence refers to the civil wrong which is committed by one party in respect of not performing the duty to another as per the set instructions (Smits, 2017). It is also stated that the remedies to be performed by the defendant is relation to paying the losses for the actual damages incurred to party.

It is referred with the case study of the Wheat V Lacon [1966] AC 552, as in this case the same issues reflects regarding not maintaining duty of care which results in death of Wheat. As after knowing the facts about the house, still the damages is not repaired by the owner which results in facing lot of injuries to plaintiff (WHEAT V E LACON AND CO LTD: HL 1966, 2020). The judgement is given under the law of torts in respect of paying losses to the damages incurred to plaintiff. 

Suggested read-  Construction Law

Application and Conclusion

From this case study, the same judgement is referred to the Johnson, as they are liable to get compensation for the actual losses incurred. As owner is liable to pay damage as they not work under the law of torts which results in taking care of the employees if they are engaging with any dangerous activity (Ulfbeck, Mitkidis and Andhov, 2019). Thus, it is the duty of the owner to repair the railing within the stipulated time period and thus in case of not undertaken such activity, than they are liable to pay damages to the losses incurred to employees. In such manner, Johnson can file the suit against the company regarding paying compensation for the losses incurred or can appoint the arbitrators to settle the matters, if they are preferring out of settlement matters.

The effectiveness of this legal advices is that if they prefer to settle the matter out from court, this is the best way to resolve the disputes and also save the company image through settling matters in right way (Wegener, 2018). This helps both the parties to get speedy disposal of the cases and also they are liable to get relief from the damages incurred. Ask for business essay help from our qualified experts! 

Conclusion

From the above study, the discussion stated with the working of business law in respect of undertaking the activities for smooth running of business. Business law is mainly designed to reduce the impact of civil and criminal crime at work place and also provide remedies to the parties to take right decision in respect of resolving the matters.

In first task, the discussion is undertaken regarding the sources of law which is mainly designed to provide justice to parties. It also helps in understanding the making of laws which carries various stages to establish the law. In second task, the matters is discussed, about the formation of the company and its advantages and disadvantages of choosing the company. In third task, various modes are discussed which helps in resolving the disputes and also its effectiveness of giving the legal advices.

Read Also- Importance of Social Media in the Digital Age

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