English Name: Ivy

Vietnamese Name: Nguyen Ha Trang

Class: F15D
Student ID: F15-247
Email: trangyoro@gmail.com

1. How company, employment, and contract law have potential impact upon the specific
example
1.1. Company law
Company law refers to a body of laws and regulations which govern how companies are
operated, managed as well as interacted with other companies, individuals, and the public
(Rivera, 2015). Additionally, the Companies Act 2006 applies to companies under lots of
elements forming this act, especially, management. A director of a company must not accept a
benefit from a third party. Therefore, this law will impact behaviors and decisions to take the
money of directors.

For instance, a director of Nothing Company accepts a bribe from a material supplier to choose
them as a trading partner with their own company even though the quality of that supplier's
products is unqualified. From this, the director was forced to pay unlimited money in fines or
receive a jail sentence of up to 10 years. (Jamieson, 2012)

1.2. Employment law

Employment law means the body of law that governs the relationship between an employee and
their employer, including the relative rights and responsibilities.(Dugger, 2021). All employers
and employees will comply with and rely on the Employment Rights Act 2008 to protect their
rights. Under the wrongful dismissal element in this Act, employers must adhere to the
contractual notice period.

Moreover, they also notice and give a specific reason for an employee who is fined. For
example, an employee at Nothing Company has been charged with stealing documents in an
important project for a rival company without proof that he stole while he and two other
employees were working together on this project. Then, this employee was fired immediately
without any notice of resignation. In this case, the employer is liable to compensate the employee
for the maximum depending on the law is £93,878, or a total salary of 52 weeks. (Mullineux,
2022)

1.3. Contract law

Contract law is defined as the body of law that encompasses both the origination, enforcement,
and enactment of all legal contracts or agreements (Markovits and Atiq, 2021). One of the most
essential elements of a basic binding contract is agreement. Under the agreement, it must involve
the negotiated agreements when one party makes a clear offer and the other party accepts if offer
(Smith, 1993). Therefore, the company is obligated to keep its promise about the offer to clients
to avoid being sued.

For example, Nothing company makes an offer to reduce the cost of raw materials from a
supplier in the UK and will pay when the company receives a sufficient quantity of the materials
and they accept this due. However, after the agreement is established, if Nothing fails to repay
the agreed amount in full, the court will order the violating company not only to pay the full
amount of the transaction but also to pay damages.