Unit 7 Business Law Assignment Sample UK- HND

This assignment aims at identifying the impact of law on business operations and decision-making. The legislative laws get applied by the business proprietor. businesses that get registered have the liberty to apply legislative laws and Suitability. This course gives an understanding of the application of the legal laws between businesses and employees. learners will be able to understand the areas where the laws get applied.

This assignment aims to identify the Importance of business laws and how these laws can ease business management.

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The purpose of the business laws is to maintain the code of conduct within a Legal framework. There are two types of course within a Legal system, One that takes over the local affairs, and the other that looks after the state affairs. There is a basic difference between legal and state laws. Government plays an important role in constituting an appropriate judiciary and Making business laws.

Explain the potential Influence of laws on businesses

Businesses need to follow the rules and regulations mentioned in the Contractual paper. Competition laws find their application in Safeguarding the company’s data. Employment laws help to resolve the cases of discrimination and dismissal and to protect the safety and privacy of employees.

Employment contracts Safeguard the rights of the employees in the workplace.

Understanding the nature of business organizations

Companies constitute directors, auditors, secretaries, employees, and stockholders. Company laws find their application in the formation of businesses. Fundraising and revenue generation are the main objectives. Businesses are of four categories Limited unlimited private and public. registration is mandatory for establishing a business. Company laws ease the registration of different types of organizations.

Sources of law

Business Law in the UK has been influenced by two main sources: Common Law and Statutory Law. Common-Law was established before Statutory Law which was derived from it while Statutory Law was established after Common Law which increased its scope and power.

Common-Law: Common-Law is defined as the legal system of England, which includes both the decisions made by courts of law and the unwritten laws that are recognized by courts. The common law is based on precedents set by judges and cases which are based on the decisions made by them.

Statutory Law: Statutory Law was derived from Common Law in the UK. Statutory Law came into existence after a series of changes were made to Common Law in the UK. These changes included the unification of legal systems, the establishment of a court system, and change in how legal issues were dealt with.

The main purpose of Statutory Law is to encourage businesses to invest in business activities, to encourage growth and development in the economy by providing a legal environment that provides a conducive atmosphere for business development.

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Understanding how the corporate laws affect business operations

Parliament of The United Kingdom passed the Company Act 2006 as the primary source of law. Till now it is the longest act passed by the UK parliament with more than 1300 sections printed on on512 pages.

The significance of the Company Act 2006 is that it focuses on simplifying the company act, outlining the responsibilities of the company directors, Granting rights to the Stockholders, Simplifying the administrative principles Followed by the businesses operating in the UK.

The directors did not emphasize the things that hurt the nation’s economic rate.

As far as the employment law is concerned, it is important to safeguard the rights of the employees and Employers.

It’s an act that Has exclusive provisions for Maternity leaves and pays adoption paternity leaves and pays. Apart from that, it has the power to make changes to the 1996 Employment Tribunal act. It allows changes in the Employment right act of 1996.

The importance of contractual law is that it Authorises the components to form a legal contract.

The contract should include those terms and conditions that are beneficial for the employers and employees. It includes conditions that relate to the appraisal guidelines, working hours, and responsibilities. It includes compensation for violating the contractual guideline.

Among all the Legal systems, the English legal system is the one that justice should be given to individuals to all ranks of the society irrespective of their caste and creed. It formed an exceptional Case fund scheme that provides monetary aid to people who don’t have the financial ability to fight Court cases. Another attribute of the legal system of the UK is that it is flexible and resourceful at the same time. The legal system in the United Kingdom has the liberty to make changes as per the law and order requirements.

Apart from that, it governs the corporate and human resources, and their functionality. It comprises the laws and principles that guide the functioning of the organizations. UK corporate law incorporates the GDPR act of 208, equity Act of 2010, employment rights act of 2002.

Understanding how Corporate law characterizes organizations

The English legal system consists of laws and regulations for conflicts affecting organizational operations. Organizational structure is of two types, One is the incorporated the other is the Unincorporated, and they have distinctive ownership style.

The former is an autonomous business, while the latter is like a proprietorship or partnership.

Companies: This type of business is formed by the Companies Act of 2006, where the board of directors handles most of the operations. It defines the responsibilities and activities of the board of directors, and they need to operate within the prowess.

There are two types of organizations: private and public. Trustees and shareholders have real control of the organizations.

Private limited company: in the private limited company shareholders have a limited span of control. Apart from that, the public has the liberty to buy shares of the companies.

Private Limited components have a scope of opportunities, and it is easy to start a business. shareholders have limited power to transfer the shares.

Sole proprietorship: In this type of organizational framework, the proprietor has control of Operations. It is not liable to share the profit or loss incurred long with other liabilities.

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