Explain the basic nature of the legal system The legal system: What constitutes a legal system? The purpose of law, the evolution of law and different sources of law. The differences between statutory law, common law and equity. Company law and contract law. The justice system: The role of government in law-making and the justice system. Organisation of the judiciary. Jurisdictions and the structures of the court. LO2 Illustrate the potential impact of the law on a business Legislation and legal responsibilities: The relationship between regulations, legislation and standards. The implications and impacts of various legislation including environmental legislation, health and safety legislation and consumer legislation. Legislation on data protection and confidentiality. Rules and regulations relating to cyberspace security. Employee legislation, equal opportunities and anti-discrimination. Employment law and its impacts on business decisions and contracts: How employment is defined. Application of law in cases of maladministration. The responsibilities of directors and delegation of tasks. How employer and employee relationships interact with employment law. the answer should not less than 2000 words