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The objective of this report is evaluate effective legislations and legal practices that can support a business to operate effectively in target market. For effective analysis of such, it is required to analyze:
- Evaluate the nature of legal system.
- Discuss the impact of law upon business practices.
- Identify the appropriate legal solutions to business problems.
- Provide recommendation over appropriate legal solutions based upon alternative advice provided.
Commercial legislation is also referred to as commercial law that is created by legal authority in the country on the basis of different issues faced by companies in several industries. In context of company law, these are the legislations which are formed by legal are formed by government for preventing the unfair competition. Every nation in the world has its own legal system which governs as well as regulates activities facilitated at specific region. For example, English law in British legislative system which control as well as regulates the business activities conducted by an organization UK. Legislation related to the business is also considered to be as lawful case scenario in which two parties those who are facing commercial dispute on the subject matter associated with contract, merger, sales etc. The objective of the report is to highlight the sources of different law. It has focus on recognizing the function of legal authority in law making procedures. Study also emphasizes on analysing the way company or contract legislation has effect on business.
P1 Different of sources of law
According to the universal notion of law, the objective of implementing legislation well as norm is to offer companies with the appropriate solution to several business problems. If in situation when any firm fails to follow the legislation in such case an organization faces legal issues, pay penalties etc.
British legislation is created by the authorized member in European Legal system.legal system. There are several norms in English legal system which are designed as well as implemented by legal authority in UK which control as well monitors and regulates the business operation of an enterprise operating in Wales and England. In English legal system (Amato, 2015) the different sources of law are:
Legislation: These are which are automatically originated by act of parliament.
Primary law: It recognized as delegated law which are formulated by the deliberate assembly of the nation. There is some legislation in English legislative system which are inspired or affected by the different legislation which is created by the legal authority in European Union.
Communal law: Such norms are developed by judges in the courts on the foundation of determination or judgement made by magistrate in present cases.
EU law: Convention of human right, it is the law in English legal system which is affected the laws in European Union. It is considered to be an essential law which is needed to be complied by all organization operating business in United Kingdom .
In addition to this, corporate, contract, company and other acts related to the employment are very important for an entrepreneur to follow when establishing new venture or running business. As these norms have direct as well as significant impact on the business policies, procedures and system. Legislation defined the way business activities should be executed and a company should be managed. (Bubb, 2014)
P2 Identifying the function of authorities in law making
Law devising is recognized to be as a formal, lengthy process in which at each and every stage, legal authority in the country plays important role. The main function of legal authority in the nation is to represent the interest of people in the country and help a nation in identifying the appropriate solution to the problems. In addition to this the legal authority in the nation makes signification role in both formation as well as enforcement of norms in the country. There are several stages in law making procedure:
Details about the government agenda - It is considered as first phase in which function of government in the country is to execute market research and collect information about several problem faced find suitable solution by an enterprise. After observing the situation, it is needed by government to find solution to problems which are faced by people or organizations.
Drafting of proposal – After the first phase, at the next stage, function of legal authority is to create the proposal which consists of the detail information about the issues and solution to the various major problems in the country.
Proposal to bill conversion via parliamentary counsel – Once the proposal is drafted; role of government is to present the draft of proposal in front of legal bodies working at lower level in hierarchy of English legal sy