Corporate & Business Law Essay Example | Topics and Well Written Essays - 1500 words

Corporate & Business Law - search ExampleThe company laws also set standards required to be followed by the company and maintain their respectable behavior since ethical leadership is considered to be very requisite for the appropriate operations of the company and its victory (Miller & Jentz, 2009, pp.63-64). The present study focuses on how the law of England and Wales is made and how a company is incorporated with study on the evaluations of the incorporation of companies. The General Legal System in England and Wales (in the unite Kingdom) England and Wales are two countries that form severalize of the United Kingdom. The immemorial laws prevalent in the nation embarrass the legislative law, the common law, the European law, and the European Convention on Human Rights. The Parliament is in the primary charge of the legislative law. The legislature that is turn up in London has the responsibility and power to pass different laws in all the four countries that include Engl and and Wales as well. The common law represents a common legal system prevalent in England and Wales. The European law is more superior to the UK law since UK is a part of the European Union. The human rights convention is prudent to look after the rights of individuals as dictated by the legal system (The Legal System of the United Kingdom, n.d.). ... Corporate and business laws have been found to be essential for any firm that tries to establish itself in the market or the industry. Moreover, when contractual issues are involved in a business, standardization proves to be essential (Mantysaari, 2009, p.11). The formation of the law in England and Wales As it is already mentioned and learnt, the passing of laws in both the countries in the UK is the primary responsibility of the parliament that has the necessary and required power. In order to form the laws in England and Wales, at early gear the law needs to be proposed. The new law that is proposed is referred to as the leve l that then needs to be accepted by the parliamentary houses. Once the parliament agrees to the bill and its purpose, the Queen needs to give her acquiescence to the passing of the bill. Once that happens, the bill becomes ready to be treated as an Act by the parliament. The first reading of the law reflects a situation where the parliament learns that a new law is ready to be proposed. A second reading presents the discussion on the law by the members of the parliament. In the next step, a third reading is per organise where debates and votes take place on the new proposed law. If majority of the votes are won, then the bill gets passed by the parliament and requires the assent of the Queen. If the Queen provides with her assent, then the bill becomes the Act and acts as the law for the nation, including the countries (Barrow, 2012). Considering the level of crimes and frauds occurring in businesses in the present state of globalization, laws associated with the business crimes hav e emerged to be significant to be formed and followed. Thus while national and international laws are