Laws That Affecting Business - 2204 Words

Assignment Topic: Laws that Affecting Business Name: Sumon Roy ID: 4050 MBA (Evening Program) Department of International Business University of Dhaka Submission Date: Saturday, 17th May 2010. Table of Contents: Contents | Page | Introduction | 1 | Definition of Business, Law amp; Business Law | 2 | Sources of law | 3 | Different laws affecting business | 6-11 | Laws regarding commerce in Bangladesh | 12 | Laws regarding Industry in Bangladesh | 13 | Conclusion | 14 | Introduction: In the present world business plays an important role in every sphere of life. Business determines one’s life style, standard of living, education and even cultural standard. So to lead a bette-r life we need to understand†¦show more content†¦Together the laws enacted by various legislative bodies make up statutory law. A statue must be drawn up in a precise manner to be constitutional. However, courts often must interpret a law’s meaning. Courts decisions sometimes lead to statues being changed, clarified or even dismissed entirely. 3. Administrative Law Laws concerned with the powers and functions of the executive branch of the government, its organizations, their inter-relations with each other, citizens and the non-governmental entities. The intention of administrative law is to provide for a legal framework for regulating the powers, procedures and acts of public administration. Different Laws Affecting Business: Numerous and varied laws regulate the activities of all businesses and everyone involved in business, from owner to manager to employee. Some major business law categories are as follows: 1. The Law of Torts 2. The Law of contracts 3. The Law of Sales 4. The Law of Agency 5. The Law of property 6. The Law of Bankruptcy 7. The Law of Negotiable Instrument 1. The Law of Torts: While criminal law deals with crimes against society of the state, tort law is concerned with compensating the victims of noncriminal wrongs. Tort is a noncriminal injury to other persons or their property or reputation. There are two types of torts: a) Intentional Torts b) Negligence Torts a) Intentional Torts: Intentional torts are deliberate actsShow MoreRelatedEssay On Law Affecting A Business939 Words   |  4 PagesLaws affect a business in many different ways as it can change a way a business operates. This can include factors such as wages, how employees are treated and what a business can or can’t do. Recruitment is the stages a business goes through to employ staff. The higher the role within the business the more complex the recruiting sector would be. To recruit it would require the people applying to fill in an application. 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