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Business Law - the Equity Procedure

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Section 1 1

1.1 The introduction of the nature of the legal system. 1

1.2 The explanation of the different sources of law 3

1.3 The explanation on the role of government in law-marking and how statutory and common law is applied in the justice courts. 5

Section 2 6

2.1 The explanation of the key legislation (Employment law, Contract law etc.) that a new business needs to be aware of. 6

2.2 Using the following scenarios, explain and evaluate the potential impact of law on a business. 11


Section 1

1.1 The introduction of the nature of the legal system.

 The definition of law

The law is defined as a system of rules created by the State, which is binding within its jurisdiction and enforces state power through the use of sanctions. It includes rules created by the State, the jurisdiction of the State and law enforcement.

 UK law

In contrast to the statute, the common law refers to case law. In contrast to the equity method, it refers to the jurisprudence of the above common law court.

 Equity

Compared with the common law, the equity procedure is relatively simple. There is no jury, and it is generally tried in written form. The judgment is directly executed by the Equity. Defiant are treated in contempt of court, and those who are serious can be put to prison.

Law is the embodiment of the will of the ruling class and the tools of State domination. The law is exercised by the legislature which enjoys the legislative power, which is formulated, amended and promulgated according to the legal procedure, which are enforced by the state. They include the Constitution, the statute, the case law, administrative regulations.

 Why do we need law?

The law provides the government structure and legislative procedures in the Constitutional Law. Besides, it provides public services and raising taxes in the Administrative Law and Tax Law. Moreover, it regulates and promotes the economy in the Civil law, Criminal law and Administrative law. Furthermore, it promotes public order and preserving national security in Criminal Law. In addition, it gives the individual members personal rights and duties under the law of contract and the law of tort. Finally, according to contract law, company law, family law, etc., it has the legal effect on the approved relations and transactions between members of the association.

 The meaning of common law

The common law is also known as the "Unwritten Law of the United Kingdom"; "Case law" or "judgment law" is local law, derived from the sublimation customs, rules and practices of the local people. In common law, as stated in the award, the "Official Privilege Law" is an authoritative exposition.

Disputes between individuals, individuals, public officials and authorities. The more "modern" common law means that law is not the result of legislation, but rather the value of the cases that result from the judgment of the judge and the jurisprudence established in these cases.

 The factors affecting law

There are four changes in the factors affecting the law, namely, social change, political change, economic change and technological change. Social change is in moral values would change the law. For example, the anti-discrimination law on sex, race, sexual orientation, disability, religion, etc. Political change is the government should have legal authority to implement policies. For example, the Brexit requires the European Union (Notification of Withdrawal) Act 2017 to be legally implemented.

The economic situation would change the law. For example, the Prime Minister may lower the salary tax rate for the people. The taxation law is thus changed. New laws are need to regulate the technology advancement. For example, the Unmanned Aerial Vehicles (UAV) may require the amendment on the Aviation Act.

1.2 The explanation of the different sources of law

 The meaning of statute

Formal drafting and written laws passed by both chambers of the legislature or the House of Representatives. Regulations are usually made by vote after public discussion,

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