explain the basic nature of the legal system

Higher National Diploma in Business Unit 7: Business Law Task 1: Outcome 1 – explain the basic nature of the legal system Prepare an individual report Submission date: 31st July 2019 Scenario: You are the Business Development Manager of an export company Wide Horizons Ltd which is operating in the GCC countries. You and a colleague have been requested by the Regional Manager to investigate opening a branch of Wide Horizons Ltd in the UK. Before going any further with this initiative, it is considered important to establish the legal background for operating a business in the UK. A specific requirement is that you provide background information about the legal environment within which any business operates in the UK. You must include a description of the following: (1) the purpose of a legal system, (2) the sources of law in the UK and the differences between statutory law, common law and equity, (3) the impact of Company Law and Contract Law on business, (4) the role of government in making law, (5) the court system in the UK, (6) the role of the judiciary in interpreting legislation and judicial precedent. Guidelines: (1) You will need to report on the legal institutions and processes in the UK for creating and enforcing the law. (2) You need to identify the aspects of company law and contract law which businesses must comply with. (3) You need to explain the role of government and the courts in making law. (4) You need to evaluate the effectiveness of the UK legal system in light of new developments. The assignment is to be 2000-2500 words and produced as an essay including citations and a list of References identifying your sources. The assignment is to be uploaded on Moodle and submitted to Turnitin by 31st July 2019. Grade criteria: P1: explain different sources of law and laws that organisations must comply with. P2: explain the role of government in lawmaking 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.