Lo2 illustrate the potential impact of the law on a business lo3 suggest appropriate legal solutions to business problems

1 Contents Introduction 2 LO1 Explain the basic nature of the legal system 3 Explain different sources of law of England 3 Define the history and characteristics of Common law; Explain the difference[.]

1 Contents Introduction LO1 Explain the basic nature of the legal system Explain different sources of law of England Define the history and characteristics of Common law; Explain the difference between Common law and equity .4 Explain the role of government in law making and how statutory and common law is applied in the justice courts LO2 Illustrate the potential impact of the law on a business The supervisor requests that your report has to include the different types of business entities in England Compare the advantages and disadvantages of each of them LO3 Suggest appropriate legal solutions to business problems What is the transfer of property in the goods? Explain the manufacturer’s liability in contract 10 LO4 Recommend appropriate legal solutions based upon alternative legal advice provided 10 The different type of methods of dispute settlement 10 The affect on the business 11 Recommend a certain article on governing laws and dispute settlement 11 Conclusion 14 References 15 Introduction As a consultant at HSBC Vietnam This article will advise customers fully about the UK legal system At the same time, it will solve some of the problems raised by the customer And it also has some suggestions to solve the problem that the customer is having 3 LO1 Explain the basic nature of the legal system Explain different sources of law of England The supreme law-making body of England is Parliament Legislation created by Parliament began as a Bill The Royal Family reviews and approves the Bill, which will become law Before that, bills will go through a number of review stages and go to the House of Lords, where the final changes will be made Agencies or persons authorized by Parliament to enact legislation shall issue Legislation Legislation promulgated must be sourced and consistent with the legislation enacted or authorized by the Act At the same time, legislation also helped to strengthen and codify English law Legislation unifies and issues different statutes under a single statute This helps to unify the provisions of the law on a specific topic including custom, common law and statute The absolutism of new laws is also influenced by legislation passed in Acts of Congress or in previously enacted laws Along with legislation, common law or case law is also an important part of law-making Courts can rely on statutes to make laws Therefore, the regulations must be general covering many different cases Therefore, the rules must be made clear in court cases because of their generality Furthermore, the court is responsible for correcting and clarifying unclear language or errors in the drafting of the bylaws The responsibility for interpreting the statutes of the courts is bound through the system of judicial precedent Future cases are bound to follow the decided cases, which helps to provide consistency and accuracy in decisions The courts can therefore cite decided cases to make a point rather than argue, giving law development a certain amount of flexibility Decisions are binding on all lower courts by the courts of appeal The same goes for the appellate courts - bound by their own prior decisions Legislation was also created from human rights law EU law is also recognized as part of British law, passed by the European Community Act 1972 However, higher courts can declare the statute incompatible with the HRA The Court of Justice of the European Union is also another source of law Parliament is bound to adopt the decisions of the Court of Justice of the European Union Conclusion, although the law making is based on case law, EU law and human rights law However, legislation remains Britain's most important source of law At the same time, written laws created and passed by Parliament can replace case law, but not vice versa In the same way, case precedent from human rights law and EU law must be legislated by Parliament to consider those rulings and become part of UK law Define the history and characteristics of Common law; Explain the difference between Common law and equity a) Definition of Common law? Common law is a system of unwritten law based on precedents decided by courts Extraordinary cases that cannot be adjudicated based on existing statutes or written laws will be adjudicated based on common law Common law provides consistency in cases that have already happened with those that will happen b) The history of Common law Common law was originated in England and is currently being used by many countries around the world such as: Hong Kong, Canada, India, According to research, the origin of common law comes from judicial review the courts of the English kings after 1066- after the Norman chastisement The Anglo-Saxons developed a similar set of rules with the Germanic, Nordic peoples Local customs now influenced most judicial matters, the church playing an important role in the government - it influenced the trials After the Norman conquest, common law gradually developed Originally common law was viewed as procedural measures, similar to other early legal systems Since then, common law has gradually evolved into a more modern system By the end of the 19th century, English common law was primarily developed by judges rather than legislators c) Characteristics of Common law Common law adjudication is based on the stare decisis - the history of the trial forms the basis for writing future trials So common law relies on detailed records of similar situations or statutes that have occurred because there are no written rules that have been decided by the legislature When judges present the precedents that apply to a case, this decision affects the criteria a jury uses to interpret a case Historically, common law traditions have led to unfair isolation or disenfranchisement of certain groups Until social changes prompt the judiciary to overturn precedent, common laws, while outdated, will shape decisions in the future These brought a uniformity to common law over a long period of time Avoid disagreements in judgments that cause bias d) The difference between Common law and equity Both common law and equity have their roots in the English legal tradition But they are rooted in two separate traditions Common law is established in legal courts and is presided over by judges On the other hand, equity comes from the Premier's Courts and is presided over by the prime minister and the monarch In the present, both forms are separated by the manner in which the adjudication is conducted and the type of decision made Common law uses trial juries and arbitrators as judges The judge will decide the penalties Unlike common law, equity can only be heard by a judge who has experience in similar cases Explain the role of government in law making and how statutory and common law is applied in the justice courts a) The role of government in law making The government plays an important role playing a very important role in the formulation of laws and policies The legislative process is divided into several different stages: Stage one: The ruling party defines its goals, vision and direction The ruling party's conference will set out the policies that need to be implemented At the same time, the ruling party will decide on specific goals for each issue These decisions will be discussed and debated to bring about correctness Stage two: The Executive Branch makes policy on an issue This phase takes place at the national level It is now the responsibility of the ruling party to attempt to transform its policies to serve the line according to the procedures provided for by the Constitution Stage three: Finalize the policy This phase is the Department's final policy selection and review phase These policies have been debated and modified to be the most correct Ultimately, these policies will be published as a White Paper It will be passed by Parliament and related bodies Stage Four: Passing the Law At this time, the whole policy set by the party will be passed through many layers of opinions to be exported into law The Minister will take the role of deciding what policy is necessary and achieving the initial goal will enact legislation This Law in the period before it is presented in Parliament will be called a Draft Law And when it is tabulated in Parliament will be called the Bill Finally, the Bill will be voted on by the National Assembly Stage five: Law and policy implementation Laws that have been published after being approved by the National Assembly will be implemented in departments at all levels depending on the decision of the National Assembly If absolutely necessary, agencies at all levels can pass sublaws that provide more detail on issues in the original law b) How statutory and common law is applied in the justice courts 'Common law' means the basic law and rules of procedure that have been created by judges through decisions in the cases they have heard Here I have grouped together two types of common law: substantive law and procedural law Let me explain the difference between them 6 A rule is essentially a rule of our conduct, such as that we cannot commit murder or that we would contract if we did and the like on an email exchange These content rules are different from procedural rules, as the latter is simply how things should be done For example, regardless of the type of case in court, the rules governing the admission of evidence into the court are the same On the other hand, statute law refers to the law created by Parliament in the form of legislation Although there has been a significant increase in statute law in the twentieth and twenty-first centuries, the courts still have an important role to play in the creation and operation of law in general and in deciding how the law works in particular This is despite the fact that there is no legislative or democratic exercise for the courts to be the legislators Common law applied: In the course of a trial, when a court decides and reports on a particular case, that case will form part of the body of law and will be used in future adjudications where it is relevant regarding similar issues This helps keep the trial consistent over the years Statutory law applied: Regulations are also recorded, or codified, in writing and published In order for a court to be able to use the statute in adjudication, it must interpret it clearly, the law must be interpreted rigorously, and must be bound by its provisions LO2 Illustrate the potential impact of the law on a business The supervisor requests that your report has to include the different types of business entities in England Compare the advantages and disadvantages of each of them Sole Trader: Sole Trader business type is not considered a legal entity The business owner therefore has unlimited liability for all debts and legal acts Sole trader is the most common form for a startup You can still hire employees but must follow employment laws Private Limited Company: This form of organization allows to limit liability and protect shareholders However, this limits ownership and decision-making Public Limited Company: A form of organization that sells shares to the public and has limited liability Shares can be freely traded by anyone Limited Liability Partnership: A partnership between the two best business partners Each partner's liability is limited, but they are still responsible for their own conduct Guarantee Company: Guarantee Company is a corporate structure designed to protect members from liability These types of companies are usually not-for-profit Recommandé pour toi Suite du document ci-dessous Exercise 17 - practice Accounting Answer for case 26 - Case 26 Star River Electronics Accounting 100% (3) Exercise 17 - practice 10 Accounting 100% (3) 100% (1) HW2 answers - Homework Corporate Finance Accounting 100% (1) Limited Partners: Limited Partners is a partnership formed from at least two partners General partners are responsible for overseeing and operating the business, and limited partnerships are not involved in management However, their liability is unlimited Types Sole Trader Private Limited Company Public Limited Company Limited Liability Partnership Guarantee Company Advantages - Minimum setup and administration requirements - Have the right to decide the business - The profit of the business belongs to the owner 100% Help the owner to be motivated to grow the business - The business's information is highly confidential - Limit the amount of loss to only the amount you have invested in the company - Limited liability - Risks that have little effect on you - Specialized company - Capital is raised through the issuance of shares to the public, helping to reduce the amount of capital that investors need to spend - Risk should be shared equally the risks will not bring harm to individuals - Public limited companies are likely to be financed by financial institutions or banks - There are opportunities for growth and expansion thanks to good financial standing Disadvantages - The owner of the business has unlimited liability for all debts and legal acts - Difficulty in developing and increasing the profit of the business - Many legal procedures are required to set up a company The company also has a more difficult structure to set up - Individuals cannot have unlimited control over the company - The legal and regulatory requirements for companies are stricter, more complex than protecting shareholders - The company has a responsibility to increase transparency Companies need to audit revenues and expenditures At the same time, detailed data must be disclosed publicly - The ability of the original owners or directors to control the company was not strong They are governed by the shareholders of the company - Shares are freely transferable, making them vulnerable to takeovers by hostile forces - The investment members of - It costs more to set up the the company bear only a limited company liability for the risks of the - Information of the owners must company be made public - Partnerships have flexibility in - Complex administration managing the structure of the process Requires an accountant company - Tax purposes are treated transparently Taxes are applied separately to each income of the investing members of the company - Members of the company are - The company will still have the not subject to financial risks costs of setting up, managing - The company has a high and developing the company reputation Make it easy to - It is difficult to keep track of promote the company's goals the members of the organization LO3 Suggest appropriate legal solutions to business problems What is the transfer of property in the goods? Property in good means ownership of goods Property in good passes from the seller to the buyer, and the buyer has title to the goods and has the obligations associated with it The essence of the sale and purchase contract is to transfer the property in good from the seller to the buyer Therefore, the timing of the transfer of goods from the seller to the buyer is very important for the following reasons: Ownership: At the time the property in good is transferred from the seller to the buyer, the seller will no longer be the owner and has no obligations related to it At the same time, the buyer can also immediately exercise title rights to the goods Risks subject to title: Ownership of an asset also carries with it the risks of the asset, regardless of whether delivery has been completed or not Responsibility for compensation for goods will be with the owner at the time the property is damaged Action against a third party: Retaliation against a third party - the party having the effect of causing damage or destruction of the goods - can only be made by the owner of the goods Suit for Price: Unless otherwise agreed, the seller has every right to sue the buyer over price Insolvency: There will be some cases where the seller or the buyer becomes insolvent The goods may be taken over by the official consignee or by the assignee However, there are certain conditions that are necessary for the transfer of assets - Goods must be sure: Goods must be confirmed to be intact before they can be transferred from the seller to the buyer - Some contract terms may stipulate when the property is transferred from the seller to the buyer Should abide by those terms Explain the manufacturer’s liability in contract Liability, a legal concept, or a manufacturer's doctrine that states that a manufacturer or seller is responsible or liable for damage resulting from a defective product marketed Manufacturer's liability is generally determined on any of three grounds: negligence, which is the failure to take reasonable care to prevent product defects arising from the manufacturing process or fail to give the consumer proper warning about the hazards of using the manufactured product, breach of warranty, result in failure to fulfill the terms of the claim or claim promises regarding the quality or performance of a particular product and strict liability, where the seller or manufacturer may be held liable for defective product even if the terms not apply negligence or breach of warranty The aggressive 10 consumerism movement is credited with the growing acceptance of arguments based on manufacturer liability LO4 Recommend appropriate legal solutions based upon alternative legal advice provided The different type of methods of dispute settlement Mediation The goal of mediation is for a neutral third party to help disputants come to a consensus on their own Rather than imposing a solution, a professional mediator works with the conflicting sides to explore the interests underlying their positions Mediation can be effective at allowing parties to vent their feelings and fully explore their grievances Working with parties together and sometimes separately, mediators can try to help them hammer out a resolution that is sustainable, voluntary, and nonbinding Arbitration In arbitration, a neutral third party serves as a judge who is responsible for resolving the dispute The arbitrator listens as each side argues its case and presents relevant evidence, then renders a binding decision The disputants can negotiate virtually any aspect of the arbitration process, including whether lawyers will be present at the time and which standards of evidence will be used Arbitrators hand down decisions that are usually confidential and that cannot be appealed Like mediation, arbitration tends to be much less expensive than litigation Litigation The most familiar type of dispute resolution, civil litigation typically involves a defendant facing off against a plaintiff before either a judge or a judge and jury The judge or the jury is responsible for weighing the evidence and making a ruling The information conveyed in hearings and trials usually enters, and stays on the public record Lawyers typically dominate litigation, which often ends in a settlement agreement during the pretrial period of discovery and preparation 11 The affect on the business A dispute resolution clause is a mechanism that provides a peaceful and fair way to resolve questions, disputes, misunderstandings or differences that may arise from time to time during the performance of a contract you in your dealings with the other party the terms will minimize the possibility of disputes or misunderstandings escalating to the point where the parties face time-consuming and expensive Court proceedings to resolve their differences surname Usually, the parties to a contract will be required to go through a dispute resolution process before starting a lawsuit Recommend a certain article on governing laws and dispute settlement I’m recommend the Negotiation, Mediation a Mediation is the earliest form of dispute resolution in the history of human society in many fields, conciliation is when the disputing parties come to an agreement, agree to settle their differences, and voluntarily implement that agreement b Mediation of business disputes has long been valued When there is a business dispute, the parties need to negotiate and reconcile with each other In case of unsuccessful negotiation and conciliation, the case will be brought to Court or Arbitration for settlement And at the Court, the Arbitrator can still continue to reconcile with each other According to statistics in our country, the annual number of economic disputes resolved by mediation accounts for more than half of the total number of cases that courts and arbitrations have settled c Advantages of business dispute resolution by mediation: - It is the simplest, fastest and most cost-effective dispute resolution method - In this way, the disputing parties "win", there is no confrontation between the parties, so the cooperation relationship between the parties is maintained - The parties keep each other's business secrets and reputation - Due to the voluntariness and goodwill of the parties, the mediation plan is easily implemented by the parties d Disadvantages of the mediation method in resolving business and commercial disputes 12 - In case of unsuccessful conciliation, not only will it incur additional costs for the settlement, the party whose interests are infringed may lose the right to initiate a lawsuit because the statute of limitations for initiating a lawsuit is no longer available (usually when the other party lacks goodwill, takes advantage of the mediation, solution for procrastinating in performing their obligations) Mediation forms: - The disputing parties conciliate (consultation) to resolve the dispute without the assistance of a third party - Disputing parties conduct conciliation with the help of a third party (individuals, organizations or Courts, Arbitration) - The parties conduct conciliation before filing a lawsuit to the Court or arbitration (outof-court conciliation) - The conciliation is conducted at the Court or Arbitration when these agencies conduct dispute settlement according to the petition of one party (Procedural Conciliation) The Court or Arbitrator shall issue a decision to recognize the agreement of the parties and this decision is enforceable for the parties 13 Conclusion As a consultant at HSBC Vietnam This article will advise customers fully about the UK legal system I have also supported clients with knowledge so they can expand their business in England And finally I offered them the best dispute resolution solution for their situation 14 References Anon., 2016 Colbourne [Online] Available at: https://colbournecollege.weebly.com/unit-7-business-law/learning-outcomeone-explain-the-basic-nature-of-the-legal-system3960222 [Accessed 26 06 2021] Anon., 2020 Diffen [Online] Available at: https://www.diffen.com/difference/Common_Law_vs_Statutory_Law [Accessed 26 06 2021] Anon., 2021 Etu [Online] Available at: https://www.etu.org.za/toolbox/docs/govern/policy.html [Accessed 26 06 2021] CHEN, J., 2021 investopedia [Online] Available at: https://www.investopedia.com/terms/c/common-law.asp [Accessed 26 06 2021] Norman, 2019 lawteacher [Online] Available at: https://www.lawteacher.net/free-law-essays/constitutional-law/explain-thesources-of-english-law-essays.php [Accessed 26 06 2021] 15