This HND assignment sample will help students how to write Business law and legal system assignments for their Higher National Diploma. Business law is the broad branch of law and legislation that helps regular business administration. Business law sets the frameworks for businesses to follow.  It incorporates a wide range of legal disciplines and addresses various challenges that may arise from the interaction of current firms with other corporations, representatives of public opinion and the government (Slorach and Ellis, 2017). Business law comprises diverse essential fields such as; contract law, employment law, intellectual property rights, company law, and consumer protection rights. This report addresses the relevance and influence on enterprises, contracts and jobs of different business laws. 

The diverse sources of law and the legal system’s efficiency as regards current reforms and development. (P1) 

Legislation is a set of regulations that regulate the behaviour of human beings to maintain social order, defend justice and protect against harm to human beings and property. Unlike other countries, the United Kingdom has no specific constitutional document. The Constitution contains numerous documented and some unwritten origins (Marson and Ferris, 2020). 

UK law is mainly sourced by common law, commonly regarded as the precedent for justice, by legislation: UK parliamentary law and EU law. 

Judicial Precedent 

In common law, the idea of the precedent of justice plays a significant role. Its strong coercive character is unique in the English theory of precedence. English judges are often obliged to follow an earlier case, even if they may not have solid reasons. The method has the effect of typically restricting English judges’ capacity to create new legislation. 

Statutes 

The Statute is Parliament’s legislation. Public legislation impacts the entire public while private legislation affects specific persons and groups. The parent law which was passed by Parliament refers to the delegated legislation (Stark, 2018). 

European Law 

In 1973 the United Kingdom became a member of the EU. Member States have a legal obligation to take measures to guarantee that EU legislation is adhered to. The United Kingdom is obligated to respect European law, even if it is not a constitution. Regulations and directives are the two most frequent kinds of EU legislation. 

The law that applies to England and Wales is referred to as English law. There are separate legal systems in place in Northern Ireland and Scotland (James, 2016). Three major categories of the English legal system are;  

• Public and private law  

• Common legislation and equity 
• Criminal and civil legislation  

Public and private law  

In the English legal system, private and public law are two different kinds of law. Private law is the law applied to individuals. Public law regulates the relationship between a citizen and the state. 

Common legislation and equity 

Until the Judicature Acts of 1870, common law and equity were governed by separate courts. The Act granted the judge the liberty of the same court to apply both common and equitable law. Equity takes priority over common law in the case of a conflict between the two. In England and the United States, the common-law system is implemented (Berry and Parry, 2015). The equity system created by the Court of Chancery was not a common law alternative but supplementary to the common law. 

Criminal and Civil Law 

To comprehend English law, it is necessary to distinguish between two forms of law. Criminal law is a public law type that pertains to behaviour that the State rejects to control behaviour in society through fear of incarceration. Civil law is a kind of private law, it includes links between individual citizens that regulate disputes over the rights and obligations of individuals involved (Jenkins and Moe, 2008). 

The function of government in the legislative process and the enforcement of statutory and common law in the courts.  (P2) 

It is the government’s responsibility to implement new legislation proposals. All laws, excluding European laws and international treaties, are made by the parliament. the Parliament may refuse to apply an act that is in breach of EU law. Consultation or discussion with voluntary organizations and pressure groups typically takes place before the introduction of legislation proposals, known as bills, in parliament. 

The parliamentary legislative process has two categories: Parliamentary acts, often known as statutes, and delegated legislation.  

Parliament’s Act introduces new legislation or alters current legislation. A bill is a law draft that is submitted to Parliament. The Act of Parliament becomes a law after the vote on the Bill by the House of Commons and the House of Lords, and the reigning monarch publicly approves it (Donnell, 2015). 

Delegated acts are made by outside Parliament bodies, such as government agencies, to save parliamentary time. An example of delegated legislation is the Communication Act 2003, which provides a regulatory framework for practitioners of communications. 

Implementation by the judiciary of the statute and common law 

Legal judgements are essential because they fill in the gaps when no statute law exists and the meaning of the law has to be understood. Every possible way of defining and explaining each phrase cannot be set forth by Parliament in legislation, and so the judge fills the gaps. 

Statutory Interpretation. Statutory laws must be clear and plain to be understood. Many instances come to court because under a legislative definition there is a dispute about the meaning of a term. A variety of rules have been created by the judiciary for the interpretation of legislation, such as the literal rule, the golden rule and the misfit rule. 

Common law. Before considering the new case, judges will look to determine if a comparable case has been heard by a higher court. If there is a precedent, the court should follow the rule of law set down in the preceding case in the current one. A court hierarchy establishes which courts are bound by the judgments (Howard, 2015). Overruling and differentiating prior instances are the two main methods in which courts modify or avoid precedents. 

The company, employment, and contract laws’ possible influence on business. (P3) 

Impact of Law of Contract on business 

A contract is a legally binding agreement between two or more persons or companies. Businesses must guarantee that the contracts they sign are legally binding and enforceable. The most prevalent concerns in contract law are contract validity and breach of contractual conditions. To demonstrate the existence of a legal contract, five contract components must be established. 

• Contract, i.e. offer and acceptance 

• Consideration refers to the contract’s “exchange value” that each party performs or promises to do as part of the agreement. 

• Intention to establish legal connections 

• Capacity refers to the capacity to enter into legally binding contracts. 

A breach of contract happens when one party fails to fulfil their contractual duties (Slorach and Ellis, 2017). A violation of a contract can have a financial impact on a business, which can further harm its reputation. A contract can also be breached when performance becomes impossible owing to an unforeseen occurrence. 

Impact of Company Law on business 

People who want to set up a business can select between an unlimited and a limited corporation. A business limited by shares might be either public or private. For both types of business, the company name is legally required to end with ‘Plc.’ or ‘Ltd.’ To function as a limited business. Some documentation must be presented to the Registrar of Companies for registration. such as; 

• Memorandum of Association  
• Articles of Association, and  
• Application for registration that the Companies Act 2006 specifies the kind of information to be submitted (James, 2016). 

Impact of employment law on business 

Employment is often a relation between two parties based on a contract, where one party may be an employer, the other is an employee. To prevent disciplinary action taken against the involved parties, Employers should be informed of the employment law (Stark, 2018). For a thriving economy, employment factors are very significant. The core employment laws and regulations; 

• Employers are obliged to pay the employees 
• The Equality Act 2010 authorizes staff to report accusations of discrimination. 
• Equal pay, ensuring no discrimination in salary and other terms between men and women. 
• Sexual discrimination, in sex, orientation, ethnicity, religion and incapacity, exists to prohibit uneven chances. 

• National Minimum Pay Act 1998, which provides for minimum wage standards for employees. 
• Health and Safety Act 1974 (HAS 1974), requiring businesses to guarantee the health, safety and well-being of their employees, regulates how data collection, fair use, secure storage and unauthorized disclosure of personal data are necessary (Stark, 2018). 

Different types of legally formed business organizations and their advantages and disadvantages. (P4)   

English law classifies four major business types. 

Sole Proprietorship 

These are the most basic and common business structures that are owned and controlled by someone for generating business and economic growth. The existence of the firm depends totally on the decision of the owner. 

• Advantages. The owner in the sole proprietorship business is subject to all profits. Business owners have relatively little regulatory need. In the operation of a company, business owners are flexible. In general, a simple commercial license is also sufficient to have minimal paperwork needed for a startup. 
• Disadvantages. The owner is fully accountable for the company’s ownership duties. The business equity is limited to the owner’s resources. The ownership of the property is difficult to transfer (Slorach and Ellis, 2017). 

Partnership 

A partnership is an agreement between two or more individuals or entities coming to terms to conduct business together. There are different forms of partnership. While some partnerships don’t require a written agreement, in a Limited partnership, they are required to provide a certificate of partnership with the State. 

• Advantages. In partnerships, shared resources provide the enterprise with more cash. Each partner shares the company’s total earnings. structural flexibility and cost-effectiveness in establishing a formal or informal partnership are positive aspects of the partnership. 
• Disadvantages. However, each partner is completely liable for any financial losses. It is difficult to sell the firm since a new partner must be recruited. When one of the partners decides to leave, the partnership comes to an end (Minnesota, 2011). 

Corporation 

A company is a separate and distinct legal entity from its owners. Corporations have much of the same rights and duties as an individual. They are allowed to establish contracts, loans and borrowings may be finalized, lawsuits and sue, hire workers, possess assets, and pay taxes as a “legal person.” 

• Advantages. A company includes protection of personal liability, security and continuity of business and simpler financial access (Marson and Ferris, 2020). Transferring to new owners is rather straightforward. It also ensures the non-payment of commercial debt for personal assets. 
• Disadvantages. Corporations are time-consuming, susceptible to double taxation, and must adhere to certain formalities and regulations. 

Limited Liability Company (LLC) 

A limited liability corporation (LLC) is a corporate structure in which the owners are not individually responsible for the debts or obligations of the firm. Limited liability corporations incorporate the best of a corporation with those of a partnership or sole proprietorship. 

• Advantages. A Limited Liability Company is well-known for its income distribution flexibility. It is easy to administer and may be managed by authorized members. 
• Disadvantages. Raising capital is difficult. it contributes to state-to-state confusion. There is also no such thing as eternal existence (Jenkins and Moe, 2008). 

The management and funding process of different business organisations. (P5)  

Financing for organizational operation and management is a crucial element. Even if the business is a profit-generating or non-profit generating business,  organisations require sufficient financing to function.  

Sole proprietorship 

The majority of funds are accumulated via personal savings, friends and family loans as well as bank loans charged against personal credit scores. A sole proprietor business is mostly managed and operated by the owner himself (James, 2016). 

Partnership 

Funding for partnership is comparatively easier and widely sourced. Partners can contribute to the partnership business, also under varied circumstances, Commercial mortgages, Business competitions, Venture capital, Business Angels, Crowdfunding, and many other diverse options are available to receive financing from.  

Corporation 

By employing net revenue from trades, credit, or capital issues, the corporation may gain capital. Debt and equity are typically bought from foreign investors and they both have their benefits and constraints (J D, 2012). The management board of a company controls the corporation, which helps to make the main business decisions. A manager may or may not be a shareholder or a corporation official. 

Limited Liability Company (LLC) 

LLCs are typical types of business structures favoured by hedge funds and other investment management organizations. Two layers of LLCs are commonly used in hedge funds: one owner is the Foundation’s investor and the other the Fund’s management (Howard, 2015). Since the profits produced are transferable to investors, the structure removes the problem of double taxation 

Recommendation of legal solutions for resolving a range of disputes. (P6) 

Legal issues are often settled by a court. Alternative legal systems and conflict settlements are becoming more and more common. Alternative solutions for issues can be faster, cheaper and more targeted than conventional courts. 

Tribunals 

Tribunals concern a variety of topics that impact everyday life. Some tribunals are handled by public officials, while others are administered by the government and the Ministry of Justice (Harris, 2011). In the context of employment law, tribunals are popular in the UK. 

Collective Conciliation 

Collective conciliation is utilized whenever an employer and their employees are disputed about a problem and cannot reach a solution, generally represented by a union. In many situations, unbiased third parties can listen to the facts and recommend the strengths and flaws of each case and enable them to establish a common ground. 

Collective Mediation 

Mediation may be utilized in a disagreement at any point but is most efficient before opinions are solidified. Mediation is strictly voluntary and private in the conversation with both parties. There is no legal requirement to participate. 

Arbitration 

For business contract problems, Arbitration is a preferred alternative to court. Arbitration includes an impartial expert or expert panel that fully understands the legal implications while ensuring secrecy between parties. 

Alternative Dispute Resolution (ADR) 

Other procedures, including mediation, judgment, judicial evaluations and ombudsman resolution, are referred to in the ADR. It involves negotiations and out-of-court agreements too (Donnell, 2015). 

Conclusion  

Business has a significant part in every dimension of life in today’s society. For those who understand how business works, the path to success is easier. Business law operates under the limits of government legislation and ethical regulations. Business legislation provides the norms and procedures for disciplined control and management of enterprises. There are several types of legal entities, from the sole trader to the limited liability corporations (Berry and Parry, 2015). Partners form a group with all of the members of the organization in a partnership. With new domains of law in the realms of consumer safety, competition and the Internet, business law continues to develop.