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Different Sources of Business Law

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The main purpose of this paper is to make an analysis on the different sources of English law, and discuss the extent to which external sources have affected English law. A basic knowledge of English legal history is important for anyone wishing to study English law, for a number of reasons. Although the UK’s modern legal system, following centuries of legal reforms, is vastly different from that of the 11th century, many fundamental principles and philosophical ideas present in the modern legal system derive from centuries past. Equally, many existing rules of law have their origin in legal history and to fully understand the reason for the current legal norms, it is necessary to appreciate the historical events surrounding their creation (Boxford, 2006, p. 34). Some argue that the English legal system is too conservative and reluctant to adapt to modern conditions. Whilst this claim should not be over-exaggerated, it should also not be ignored. The UK today represents a country with an extremely rich legal history, but also one which seeks to play an active role in the modern global environment.

A source of law means the process by which law comes into existence. English law is mainly derived from legislation (both Acts of Parliament and delegated legislation), case law, and European Union law. Custom is a minor source of law. English law, established historically Westminster courts (common law) and Chancery Court (equity), is a right of judicial practice, not only in its origin. Since the influence of the universities and the doctrine in England was much weaker than on the continent, and an overall review of law has never carried out by the legislator in the form of codification. The British retained the right to the sources of law and its structure and its original features (Fionda, 2004, p. 90). The law, whose translation into English is

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