Business Law Assignment

LO1 Explain the basic nature of the legal system

TASK 1

Business Law Assignment

You have joined a law firm as a rookie specializing in company and corporate law. As part of your internship, you have been asked to write some legal articles (essay type) in the firm’s newsletter, designed for start-up companies and existing companies. You have to cover the following areas.

P1: You have to explain different sources of law and other laws that organizations must act in accordance with. The student has to include the following sections :

A simplification of the legal system.

A survey of the sources of law.

P2. Describe the role of government in law-making and how statutory and common law is applied in the justice courts.

Business Law Assignment

LO2 Illustrate the potential effect of the law on a business

TASK 2

P3. With the help of certain examples, represent how the company, employment, and contract law has a potential effect on the business.

LO3 Suggest appropriate legal solutions to business problems

TASK 3

SCENARIO:

Devernam Ltd and Bashful Ltd; a car rental company that has two owners; John and Tom. Both companies are having the following issues. 

Juliet hires a car from Bashful Ltd. When she arrives at the office, she gets a firm that includes terms and conditions printed on hte back. She had to sign the form. She pays the hiring charge after filling out the form. When she gets into the car, she looks into the glove box and sees a document labeled “Limitation of Liability”.This states that the hiring company will not be liable for any injury caused by the defect in the car unless this is a result of the company’s negligence. Juliet has an accident on the motorway while driving because of airbag inflation. Who is responsible for the injury? Bashful limited?

Franck started working with Bashful Ltd on 1 September 2013. On 7 November 2015, his line manager stated that he is incompetent and he was dismissed without any notice. Talk through the legality of the dismissal by the company.

Business Law Assignment

Devernam Ltd was incorporated by Tom and John in January 2001, a company that sells ladies’ handbags. John and Tom; the only directors and members of Devernam Ltd each owned £200 £1 shares in the company. The company has been experiencing financial difficulties since February 2013  due to some reasons. The company’s overdraft with Bark House Plc. had reached £200,000. The directors requested an additional £100,000 from Bark House Plc. in march of 2013. The bank accepted that and requested security and the bank took a floating charge against the assets of Devernam Ltd. The business was suffering dramatically, therefore, the company’s auditor informed John and Tom that bankruptcy is inevitable but John and Tom disagreed and they strongly believed that the company’s financial health would get better. They started a huge sale to get rid of their old stock of handbags but the sale did not work out as they expected. Two months later Devernam Ltd was terminated. By this time, Devernam’s overdraft with Devernam amounted to £350,000.

Florence was appointed as a liquidator and the following facts were exposed: John and Tom caused the company to repay an unsecured loan of £10,000 in March 2012 which Tom has made to the company two months ago. In addition, to the money owed to Bark House Plc., the company owes £15,000 to the HRMC, £20,000 to employees in salaries, and £150,000 to unsecured creditors. Florence estimates that the total remaining assets of Devernam Ltd amount to £200,000. Florence’s fee for conducting the liquidation process is £3,000.

Business Law Assignment

P4. Using the above scenario, or any other scenario(s) of your choice, propose appropriate legal solutions for a scope of business problems, e.g. termination of the contract, rescue from bankruptcy, and liquidation. In the event that you are using your own scenario(s), please make sure that you include an overview of the scenario(s) prior to answering P4.

P5. Provide justifications for use of appropriate legal solutions

LO4 Recommend appropriate legal solutions based upon alternative legal advice provided.

TASK 4

P6. Suggest legal solutions based upon a different country’s legal system and/or a different legal framework.

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