Premium Essay

Different Sources of Business Law

In:

Submitted By pantzoulis
Words 1762
Pages 8
The main purpose of this paper is to make an analysis on the different sources of English law, and discuss the extent to which external sources have affected English law. A basic knowledge of English legal history is important for anyone wishing to study English law, for a number of reasons. Although the UK’s modern legal system, following centuries of legal reforms, is vastly different from that of the 11th century, many fundamental principles and philosophical ideas present in the modern legal system derive from centuries past. Equally, many existing rules of law have their origin in legal history and to fully understand the reason for the current legal norms, it is necessary to appreciate the historical events surrounding their creation (Boxford, 2006, p. 34). Some argue that the English legal system is too conservative and reluctant to adapt to modern conditions. Whilst this claim should not be over-exaggerated, it should also not be ignored. The UK today represents a country with an extremely rich legal history, but also one which seeks to play an active role in the modern global environment.

A source of law means the process by which law comes into existence. English law is mainly derived from legislation (both Acts of Parliament and delegated legislation), case law, and European Union law. Custom is a minor source of law. English law, established historically Westminster courts (common law) and Chancery Court (equity), is a right of judicial practice, not only in its origin. Since the influence of the universities and the doctrine in England was much weaker than on the continent, and an overall review of law has never carried out by the legislator in the form of codification. The British retained the right to the sources of law and its structure and its original features (Fionda, 2004, p. 90). The law, whose translation into English is

Similar Documents

Premium Essay

Roles and Functions of Law

...Role & Functions of Law By: David Johnson Class: LAW/421 Due Date: 06 April 2015 Instructor: Alan Williams Laws are the rules of actions prescribed by controlling authority and involving legal force. Laws create duties and obligations that reflect given views of a given society. In business and society, the law serves many roles and functions to uphold its main purpose of promoting fairness and equality. It is said that, the roles of law in business and society can be classified into three different categories. Those categories are civil and criminal law, substantive and procedural law, and public and private laws. All of these categories of law help define not only what is right but also what is wrong. Criminal law is a protection of society and where crimes committed by the public are prosecuted by governing bodies. Substantive law provides an individual with rights and creates certain duties while procedural laws provide a structure and set rules for pursuing substantive rights. If an individual intentionally harmed another citizen, substantive law would state how this is a crime. Civil law is used in business and society to compensate individuals or businesses for losses as a result of another’s misconduct. It determines the amount of damages the victim has suffered and is settled with compensation. An example of civil law would be if a person was suing their business partner for not living up to their business contract. If the partner suddenly became enraged and...

Words: 988 - Pages: 4

Premium Essay

Role of Law

...Functions of Law Role and Functions of Law There are several different functions of laws; however laws were designed you have just one role. Laws were designed and set into place to govern a set a rules that each individual is expected to follow, whether pertaining to society or to a business. Laws are set and new ones are always being approved, so that there can not only be a consensus on what is right and wrong, but also so there can be a decision on when to punish someone and how to determine whether they have broken the . Law has an extraordinary role in a successful operation of how a business may run and how a society comes together as one. Laws help control social behavior which helps lead to a society that is ran in an efficient type of way. Laws were put in place to set rules of conduct, different ways to enforce those rules, a mean for settling misunderstandings or disputes, and to supply ethical expectations and standards. Some other important functions of laws are: they outline what the government can do and what it cannot do; brings out justice in society; facilitates orderly change; peacekeeping; and they promote economic growth. Something very important to know is that without laws, the way a business is ran or the way people may act, society would not be able to function effectively, with this being said commerce would likely collapse. Although many of the function of laws seem to be rather simple, The United States Legal System is very complicated. Laws have been...

Words: 873 - Pages: 4

Premium Essay

Contract Law

...| 2013 | | | Assignment Cover Sheet Qualification | Unit Number and Title | Pearson BTEC Level 5 HND Diploma Business (Accounting) | Unit 5: Aspects of Contract and Negligence for BusinessUnit Code: Y/601/0563Credit Value: 15 Credits | Student Name | Assessor Name | Mukaram Khan Swati | Salman Haider | Date Issued | Completion Date | Submitted On | Validity | 7th October,2013 | 4th November,2013 | | 1st Oct, 2013-31st Jan,2013 | Assignment Title | Contract and Negligence | Assignment Number | 05AOCANFB- Y/601/0563-13 PKISL7002 | Hand In Policy You must complete this assignment on time. If u experience difficulties, you must inform your tutor accordingly. Late Work Policy Consideration will be given to students who have valid reasons for late submission (eg, Illness) Plagiarism In case of plagiarism, college regulations will be applied. You must declare that this assessment is your own work by signing the following statement: Learner Declaration | I certify that the work submitted for this assignment is my own and research sources are fully acknowledged.Student Signature: Date: | Table of Contents Acknowledgement 6 Research Method 7 Aims and Objectives 8 Literature Review 9 Abbreviation List 10 Introduction 11 Task 1 12 Essential Elements of a Contract 12 1. Offer and Acceptance 12 2. Lawful Consideration 12 3. Intention to Create Legal Relationship...

Words: 5420 - Pages: 22

Premium Essay

Role and Functions of Law

...and Functions of Law Eduardo Aguayo LAW 421 September 18, 2014 Richard Burgoon Role and Functions of Law In the introductions of law, we study what are the purpose and the importance of this science to people and businesses. In this essay I will cover the first most important aspects of the introduction to this science discussing terms and ideas of the roles and functions of law. The term law, throughout history, has been defended in a variety of ways. The most generally definition of the law is a body of rules of action or conduct prescribed by controlling authority, and having legal binding force. Law may be set down in a written code as prescribed by an elected legislative body, but also takes the form of judicial decisions and actions of government agencies. While there are many sources of American law, the common characteristic of the current state of law is that it creates duties, obligations, and rights that reflect accepted views of a given society. Jurisprudence could almost be defined as the science and philosophy of law. Jurisprudence may be divided into three branches: analytical, sociological, and theoretical. The analytical branch articulates axioms, defines terms, and prescribes the methods that best enable one to view the legal order as an internally consistent, logical system. The sociological branch examines the actual effects of the law within society and the influence of social phenomena on the substantive and procedural aspects of law. The theoretical...

Words: 1348 - Pages: 6

Premium Essay

U.S. Judiacial System

...should so decide to start a business, first you must choose what legal form of business will be the best fit for your needs. There are three common types of ownership options to choose from, sole proprietorship, partnership, and to form a corporation. All of the three will have both advantages and disadvantages. Let’s take a peek as to what each one offers. According to Karen Collins, who wrote the book Exploring Business, “A sole proprietorship is a business owned by only one person. The most common form of ownership, it accounts for more than 72 percent of all U.S. businesses.” A sole proprietorship is known to be the cheapest and easiest business to form. The advantages of having a sole proprietorship business are that you are the only owner. This means that you are the only one in control of everything. Because you are the one in control, you are also the one who gets to profit because of it. In the end you get all the income earned and any profits earned can be taxed as personal income. By doing this you are entitled not to have to pay those pesky special income taxes. The disadvantages of a sole proprietorship come down to if the business is not doing good, then in turn you are not going to do good. You are fully responsible for your business. You must rely on you and your sources for any financing, and if you die, the business will in turn die as well. Our next type of business is a partnership. A partnership is a business owned by at least two or...

Words: 1105 - Pages: 5

Premium Essay

Cultural Implications In The Military

...From a Human Resource Management perspective there are several things to consider when taking a company Global. There are cultural implications and workforce integration training, local laws and the required changes in policy, and the financial implications created by the aforementioned. Being able to balance these different influencers will help to generate a Global presence. Whenever a company expands into a global market there are always cultural differences. Understanding that there is a significant workforce expectation from each employee and the ramifications of the employee decisions. One source for cultural integration planning is the military. Due to the constant training, research and development, and involvement of military leadership...

Words: 363 - Pages: 2

Premium Essay

Emirates Nbd

...number and title | Level 3 | Unit 4 Business Communication | Learner name | Assessor name | | Mr. Soheil Arzanpour | Date issued | Hand in deadline | Submitted on | 18 October 2015 | 17 November 2017 | | | | Assignment title | | In this assessment you will have opportunities to provide evidence against the following criteria. Indicate the page numbers where the evidence can be found. | Criteria reference | To achieve the criteria the evidence must show that the learner is able to: | | Task no. | | Evidence | P1 | explain different types of business information, their sources and purposes | | 1 | | | P2 | present complex internal business information using three different methods appropriate to the user’s needs | | 2 | | | P3 | produce corporate communications | | 3 | | | P4 | evaluate the external corporate communications of an existing product or service | | 4 | | | P5 | explain the legal and ethical issues in relation to the use of business information | | 5 | | | P6 | explain the operational issues in relation to the use of business information | | 6 | | | P7 | outline electronic and non-electronic methodsfor communicating business information, using examples for different types of audience. | | 7 | | | M1 | analyse different types of business information and their sources | | 8 | | | M2 | analyse the legal, ethical and operational issues in relation to the use of business information, using appropriate examples...

Words: 1226 - Pages: 5

Premium Essay

Statics

...Actual Trends in Theory and in Practice of the International Business Ethics Gabriela Dubcová* ABSTRACT The ethics triangle: national law, culture and political economic system. Key factors of current ethics issues in an international environment. The most visible changes in environment dimensions. Principles of international business ethics. Current ethics challenges in international environment. Common issues of the international business ethics. Comparison of ethical standards in different cultures. Accelerating development of globalization and assimilation between Europe and the USA. Differences between Europe, the United States and Asia in the business ethics perspective. Development processes of global business ethics. Levels of global business ethic level. Principle of normative guidelines for business conduct of multinational corporations. Current functioning of institution engaged in the international business ethics. Key words: The ethics triangle; Current ethics issues; International business ethics; Ethical standards; Global business ethics; Institution engaged in the International Business Ethics. JEL classification: K2, M1 Introduction The present economic situation in the globalized world generates very efficient processes in international companies with large profits for managers but with a relevant risk in economic and noneconomic ambit to eliminate any negative impacts of the crisis from one country to another. In this case, it is necessary to enact and...

Words: 5135 - Pages: 21

Free Essay

Role and Functions of Law

...and Functions of Law . LAW/421 August 21, 2012 Role and Functions of Law In today's business and society, we, leave by rules and regulations, laws that we are all required to follow. From children to elderly, small to large organization and society there are laws in place. Law plays an important role in business and society, it impacts various faucets of our everyday life. The term has been defined in different ways ever since it was recorded. According to Sean P. Melvin, Author of The Legal Environment of Business 2011, a generally accepted generic definition of the law is a body of rules of action or conduct prescribed by controlling authority, and have legal binding force. He said when studying law in any context, it is important to think of the law in broad terms (S. P. Melvin, 2011). Law have many sources, the usual characteristic is it creates obligation, rights, and duties that are an accepted views in a society. It is important to understand that the law provides a vehicle to fix problem arising from those obligation and duties that enable parties enforce promises in a court of law (S. P. Melvin, 2011). The functions and role of law in a business and society is very important, it plays a big role in its operation. Without the laws that regulate the businesses, the people, and society, it will not function properly and effectively, it may even fall. It is important for the businesses and its society to understand the various areas of the law and how it will...

Words: 759 - Pages: 4

Premium Essay

Roles and Function of the Law

...Role and Functions of Law Law/421 May 19, 2014 Role and Functions of Law This paper will discuss the functions and role of law in business and society. It will explain the functions and role of law in my past job as a Border Patrol Agent. According to Melvin, “law is a body of rules of action or conduct prescribed by controlling authority, and having legal binding force” (pg. 4). In essence, the law functions as a set of rules for both society and business. By creating a framework of rules or laws within business it helps to level the playing field, keeping the market competitive and fair. Within a society, it helps to keep people baser instincts in check by creating rules with consequences. It does this by creating rules of conduct and a way to settle disputes among individuals and business. This can be applied by written law and common law. Common law means the rules that are taught to use by our family members and people who were placed in a position of authority over us. Law also helps to keep the Government and itself in check, with built in checks and balances. According to Melvin “Modern law in the United States regulating businesses and individuals is a combination of constitutional law, statutory law, common law, and administrative law at the federal, state, and local levels. These sources are known as primary sources of law and will sometimes work in conjunction with each other or independently” (Pg. 8). Within the United States, the Constitution forms the...

Words: 727 - Pages: 3

Premium Essay

Classifications of Law

...Classification of Law 1. Civil law and Criminal law……………………………………………………….. 2 2. Sources of Law ……………………………………………………………… 3-8 I. Common Law ……………………………………………………… 3-5 II. Common Law and Equity ……………………………………………… 5-7 III. Statute Law ……………………………………………………………… 7-8 Conclusion ……………………………………………………………………………… 8-9 Bibliography …………………………………………………………………………….... 10 Introduction According to the statement on p.25 in Antoine’s book, Commonwealth Caribbean Law and Legal Systems, there is no general agreement as to how legal systems should be classified. Some writers emphasize a socialist legal tradition; others are concerned with technical differences while some also place more importance on the sources or origins of the law and its structure and methods. Source The socialist legal tradition has its historical origin in the Bolshevist Revolution of 1917 initiating the international and economic order known as Socialism or communism. The main legal distinguishing feature between socialist tradition and the common law or Romano- Germanic tradition is ideology. The socialist argue that law cannot be isolated from the social political and economic order within which it operates, making these elements fundamentally important in determining the type of legal system in existence. The Socialist legal tradition therefore embodies its original meaning aimed at achieving a communist state Rose-Marie Belle Antoine Commonwealth Caribbean Law and legal system...

Words: 2909 - Pages: 12

Premium Essay

Role and Functions of Law

...Role and Functions of Law LAW/421 The accepted generic definition of law is: “a body of rules of action or conduct prescribed by controlling authority, and having legal binding force” (Melvin, 2011, ch 1). “While there are many sources of American law, the common characteristic of the current state of law is that it creates duties, obligations, and rights that reflect accepted views of a given society” (Melvin, 2011, ch 1). The functions and role of law in business and society are much in the same; to provide guidance and structure. The laws which guide society and business come from a combination of constitutional law, statutory law, common law and administrative law. (Melvin, 2011, ch 1) Constitutional law is the basis for all other laws and is the “supreme law of the land” in the United States. (Melvin, 2011, ch 1) The Constitution works together with other sources of law in three areas: (1) Establishing a structure for federal and state governments (including qualifications of certain offices and positions) and rules for amending the constitution; (2) granting specific powers for the different branches of government; and (3) providing procedural protections for U.S. citizens from wrongful government actions (Melvin, 2011, ch 1). Not only is there a U.S. Constitution, at the federal level, but each state has their own constitution that “is the highest source of law within the state’s borders” (Melvin, 2011, ch 1). Constitutional issues that impact businesses include...

Words: 608 - Pages: 3

Free Essay

Las Week 2

...inals-printing-guns-1254537 In this article by Ryan W. Neal from International Business Times, he points out that since 3D printing getting popular and more people and organizations are going to start depending on it, lawmakers should do their best to make sure it doesn’t reach dangerous hand. It’s the concept of using 3D printing for manufacturing weapons and heavy arms. The article helps to identify laws and regulations that can prevent the destruction usage of 3D printing and its impact on society. 2) http://hbr.org/2013/03/3-d-printing-will-change-the-world/ In this article by Richard A. D’Aveni from Harvard Business Review, he talks about how 3D printing can influence the world. The articles talks about that while the technology of 3D getting expand, prices will continuously getting dropped. In other words more goods will be manufactured at or close to their point of purchase. That power will eventually be in the hands of individuals not just factories. This article shows how this technology will affect our imports and exports. It also shows that 3D can affect us politically, where we don’t have to outsource certain jobs anymore. It also talks about opening a domestic market and help small business owners. 3) OSBORN, L. S. (2014). Regulating Three-Dimensional Printing: The Converging Worlds of Bits and Atoms. San Diego Law Review, 51(2), 553-621 This source shows different laws that can monitor 3D printing technology. It shows how 3D printing can impact the...

Words: 567 - Pages: 3

Premium Essay

Aaaa

...Slide 4. 1 Chapter 4 E-Environment David Chaffey, E-Business & E-Commerce Management, 5th Edition, © Marketing Insights Limited 2012 Slide 4. 2 Learning Outcomes • Identify the different elements of an organization macro-environment that impact on an organization‟s e-business and e-marketing strategy • Assess the impact of legal, privacy and ethical constraints or opportunities on a company • Assess the role of macro-economic factors such as economics, governmental e-business policies, taxation and legal constraints. David Chaffey, E-Business & E-Commerce Management, 5th Edition, © Marketing Insights Limited 2012 Slide 4. 3 Management Issues • What are the constraints such as legal issues placed by the e-environment on developing and implementing an e-business strategy? • How can trust and privacy be assured for the customer while seeking to achieve marketing objectives of customer acquisition and retention? • Assessment of the business relevance of technological innovation. David Chaffey, E-Business & E-Commerce Management, 5th Edition, © Marketing Insights Limited 2012 1 Slide 4. 4 Activity 4.1 Introduction to Social, Legal and Ethical Issues • List all the social, legal and ethical issues that the manager of a sell-side e-commerce website needs to consider to avoid damaging relationships with users of his or her site or which may leave the company facing prosecution. You can base your answer on issues which may concern...

Words: 2654 - Pages: 11

Premium Essay

Business Unit 4

...BTEC Level 3 in Business – Unit 4: Business Communication Context Businesses need accurate information. This information has to move between different individuals, different departments and different organisations. The information can be anything from a simple idea to masses of data on business performance. It can come from inside an organisation or from almost anywhere outside. Put simply, a business that does not plan how to deal with this information is a business much more likely to fail. The Scenario A medium sized business organisation has identified that communication within their organisation is poor. This has resulted in the calling in of a management consultant (you) to help but together a communication strategy. You will be expected to offer guidance on: • How and why different types of information need to be communicated in different ways. • Where information comes from. • How and why information needs to be recorded and stored. • Explaining what can happen when communication breaks down. • Explaining technological issues affecting information. • What laws and other rules control and constrain the flow of information. You will be expected to produce a report and present your ideas to a selected audience. Task 1 Produce a PowerPoint presentation that explains the nature of communication in business and the various types of information used by a business. You must also explain where this information can come from and...

Words: 997 - Pages: 4