Fundamentals of Commercial Law: Principles, History, and Legal Acts
Classified in Law & Jurisprudence
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Commercial Law
Commercial law is the branch of private law regulating the relations of individuals involved in commercial transactions, particularly merchants.
Characteristics
- Security and strength
- Simplicity and strictness
- Universality
- Systematized and enduring
Sources of Commercial Law
Sources of commercial law encompass any objective mandatory standard or rule from which it originates.
Scope
- Broader meaning
Purpose
- Profit-making
Economic Trade
- Exchange or intermediary activities for profit
Classification of Trade
- Domestic and foreign trade
- Land and sea trade
- Wholesale and retail trade
- Self-employed and commission-based trade
History of Commercial Law
The oldest known commercial law is the Code of Hammurabi, inscribed on Babylonian clay tablets, addressing sale,... Continue reading "Fundamentals of Commercial Law: Principles, History, and Legal Acts" »