PassLO1 Explain the nature of the legal systemP1 Explain different sources of law.P2 Explain the role of government in law-making and how statutory and common law isapplied in the justice courts.M1...

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BUSINESS LAW
Table of Contents
Introduction    2
LO1- Explain the nature of the legal system    3
P-1 Different sources of law and the laws with which an organization must comply    3
P2- Role of government in lawmaking and application of common and statutory law in the justice courts    4
M1- Effectiveness of the legal system in terms of recent reforms and developments    5
LO 2    5
P3 – illustrating that how the employment, company and contract law has a potential impact upon business    5
M 2- the potential impacts of legislation, regulations, and standards    6
D1- critical evaluation of the legal system and law    7
LO 3    7
P4- appropriate legal solutions for solving different business problems    7
P5- justification for the use of the appropriate legal solution    8
M3- negative and positive impacts of legal solutions to a business problem    8
D2- evaluates and reviews the use of the appropriate legal solution in comparison with alternative legal advice    9
LO4    9
P6- recommending legal solutions on the basis of a different legal system of the country or different legal framework    9
M4- comparison and contrast between different sources of legal advice    10
D3- effectiveness of legal advice and legal solutions    11
Conclusion    12
References    13
Introduction
The business law is also known as commercial law that governs commerce and business. The business laws help both public and private companies to deal with various issues. The current study is based on the importance of business laws under which it will effectiveness and impacts of legal solutions and legal advice over the business. Moreover, the study will showcase different sources of legal solutions and legal advice along with the justification in context with dispute resolution.
LO1- Explain the nature of the legal system
P-1 Different sources of law and the laws with which an organization must comply
Legislation – This is the primary source of law that involves the legal declaration about legal rules by any competent authority. The Legislation has many purposes like to regulate, to enable, to authorize, to provide funds, to prescribe, to declare, to restrict, to sanction or to grant. The company must comply with the legislative laws so as to have a certified management system (DesJardins, 2014). The primary legislation is framed by the parliament and secondary by the government. In the UK the immigration rules and law are considered as a specific form of law.
Equity- It is another source of law that is only peculiar to Wales and England. The equity is considered as a case law which is developed by the court of chancery. The main achievement of this source is charities, trusts, equitable remedies, and probate.
Parliamentary conventions- The parliamentary conventions do not include any strict rules related to law by the breach of it can lead to the breaking of the law (DesJardins, 2014). These are mainly found under the English legal system and help in compensating for the lack of one written solution of the United Kingdom.
Customs- This is a source of law that is not written normally but if the practice has been in existence from a longer period of time then it can be considered as a source of law.
Laws that an organization must comply with
The organization must comply with state or federal licensing law as it is important for carrying out a particular business activity. It must also comply with all employment laws like fair labor standards act, federal equal employment opportunity laws, health, and occupational safety act, etc. Apart from this, the organization must comply with the tax law will involve obtaining an identification number, taxes that the organization will have to pay (Buxbaum, et. al., 2012). Furthermore, the organization must comply with all marketing and advertising laws like CAN-SPAM Act and also with sales tax laws and privacy laws. Moreover, the organization must comply with data security law in order to secure and lock the important data.
P2- Role of government in lawmaking and application of common and statutory law in the justice courts
The justice system involves three areas that are the legislature, executive and government. After the elections of the Prime Minister in tenure of five years, the budgets are framed by the chancellor every year in the month of April where the old and new legislation are changed and implemented on the legal system so as to make the new changes within the country and economy (Buxbaum, et. al., 2012). Following this, the parliament members have to address or implement the new changes within their town or districts. After this, all the relevant concentration and presentation related to laws are passed o the local council for carrying out the further procedures by MP and councilors. After that procedure is passed to a local councilor and then to department's chief executive in charge so to take important steps to control and ensure that the accurate regulations and laws have been applied successfully.
The statutory laws basically define the...