Aim of Unit 7 Business Law
The main aim of Unit 7 Business Law is to identify the impact of law on operations of businesses and making proper decisions. There are legal solutions that can be applied by the business owners. The companies that get registered have access to application of legal laws and having access to their suitability. The application of employment law between employers and employees could be understood in this unit. Students will be able to understand the areas where suitable laws can be applied. The main aim of this unit is to identify the importance of business law and in what ways these laws can be helpful in managing a business.
Learning outcomes
LO1 Explain the nature of the legal system
LO2 Illustrate the potential impact of the law on a business
LO3 Examine the formation of different types of business organisations
LO4 Recommend appropriate legal solutions to resolve areas of dispute
LO1 Explain the nature of the legal system
The purpose of law is to maintain a certain code of conduct in a legal system. The different sources of law include case laws and treaties relevant to the country. In a legal system, there are two types of courts, one which looks after the local affairs and another that manages the state affairs. There is a basic difference that applies to civil and criminal laws. Government has an important role to play in making laws and constituting a proper judiciary.
LO2 Illustrate the potential impact of the law on a business
There are contract laws whereby businesses are liable to abide by the terms and conditions stated in the contract. For protection of Company’s data competition laws are applicable. To resolve cases of dismissal and discrimination and to protect the health and safety of employees, employment laws are applicable. Employment contracts preserve the rights of the employees in workplace. For consumer protection and negligence appropriate laws have been constituted.
LO3 Examine the formation of different types of business organizations
Companies are basically constituted director, secretary, auditors and shareholders. The Company Law can be applied in the formation of different organizations. Raising capital is a prime focus. The different types of companies are public and private, limited and unlimited. For setting up of a company, a registration is required. There are Sole-Traders, Partnership Companies and registered companies. A distinction is made between incorporated and unincorporated legal structures. There are different types of companies that are privately held and publicly held, limited or unlimited in nature. Company Laws enable registration of different types of companies.
LO4 Recommend appropriate legal solutions to resolve areas of dispute
In resolving disputes, various kinds of legal solutions are available. They apply to health and safety needs of the employees, make compromises on the payment structures, enables decisions in cases of dismissal and wrongful deeds. In case of breach of contract, dispute occurring between directors and claims on making damages such legal solutions are applicable. Such solutions are applicable in the case of commercial needs and investment properties. Alternative Dispute Resolution has an important role to play such as unions, tribunals and citizens advice can help in resolving conflicts.
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Learning outcomes and assessment criteria
| Pass | Merit | Distinction |
| LO1 Explain the nature of the legal system | ||
| P1 Explain different sources of law. P2 Explain the role of government in law- making and how statutory and common law is applied in the justice courts. | M1 Evaluate the effectiveness of the legal system in terms of recent reforms and developments. | LO1 and LO2 D1 Provide a coherent and critical evaluation of the legal system and law, with evidence drawn from a range of different relevant examples to support judgements. |
| LO2 Illustrate the potential impact of the law on a business | ||
| P3 Using specific examples illustrate how company, employment and contract law has a potential impact upon business. | M2 Differentiate between legislation, regulations and standards to analyse potential impacts upon business. | |
| LO3 Examine the formation of different types of business organisations | ||
| P4 Explore how different types of business organisations are legally formed. P5 Explain how business organisations are managed and funded. | M3 Assess the advantages and disadvantages of the formation of different types of business organisations. | D2 Critically evaluate the formation of different types of business organisations. |
| LO4 Recommend appropriate legal solutions to | ||
| resolve areas of dispute | ||
| P6 Recommend legal | M4 Compare and contrast | D3 Evaluate the |
| solutions for resolving a | different sources of legal | effectiveness of legal |
| range of disputes using | advice and support for | solutions, legal advice and |
| examples to demonstrate | dispute resolution. | support for dispute |
| how a party might obtain | resolution. | |
| legal advice and support. |
Link
This unit links to the following related units: Unit 1: Business and the Business Environment Unit 19: Resource and Talent Planning
Unit 9: Entrepreneurship and Small Business Management Unit 22: Product and Service Development
Unit 20: Employee Relations
Unit 29: Managing and Running a Small Business
Unit 48: Law of Contract and Tort
Unit 49: Company Law and Corporate Governance Unit 50: Sales and Consumer Law