Commercial law

Commercial law

Commercial law (also known as business law, which covers also corporate law) is the body of law that governs business and commercial transactions. It is often considered to be a branch of civil law and deals with issues of both private law and public law.

Commercial law includes within its compass such titles as principal and agent; carriage by land and sea; merchant shipping; guarantee; marine, fire, life, and accident insurance; bills of exchange and partnership. It can also be understood to regulate corporate contracts, hiring practices, and the manufacture and sales of consumer goods. Many countries have adopted civil codes that contain comprehensive statements of their commercial law. In the United States, commercial law is the province of both the United States Congress, under its power to regulate interstate commerce, and the states, under their police power. Efforts have been made to create a unified body of commercial law in the United States; the most successful of these attempts has resulted in the general adoption of the Uniform Commercial Code, which has been adopted in all 50 states (with some modification by state legislatures), the District of Columbia, and the U.S. territories.

Various regulatory schemes control how commerce is conducted, particularly vis-a-vis employees and customers. Privacy laws, safety laws (e.g., the Occupational Safety and Health Act in the United States), and food and drug laws are some examples.

See also

External links

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Look at other dictionaries:

  • commercial law — n: the legal rules and principles bearing on commercial transactions and business organizations see also uniform commercial code in the important laws section Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • Commercial law — Law Law (l[add]), n. [OE. lawe, laghe, AS. lagu, from the root of E. lie: akin to OS. lag, Icel. l[ o]g, Sw. lag, Dan. lov; cf. L. lex, E. legal. A law is that which is laid, set, or fixed; like statute, fr. L. statuere to make to stand. See… …   The Collaborative International Dictionary of English

  • commercial law — ➔ law * * * commercial law UK US noun [U] LAW ► law relating to business, for example, sales, banking, investment, and insurance: »a commercial law practice (= company) …   Financial and business terms

  • Commercial law — Commercial Com*mer cial, a. [Cf. F. commercial.] Of or pertaining to commerce; carrying on or occupied with commerce or trade; mercantile; as, commercial advantages; commercial relations. Princely commercial houses. Macaulay. [1913 Webster]… …   The Collaborative International Dictionary of English

  • commercial law — noun the body of rules applied to commercial transactions; derived from the practices of traders rather than from jurisprudence • Syn: ↑mercantile law, ↑law merchant • Topics: ↑law, ↑jurisprudence • Hypernyms: ↑law, ↑ …   Useful english dictionary

  • commercial law — law applying to business matters …   English contemporary dictionary

  • commercial law —    That part of the law (including statutes, cases and precedents) that encompasses the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising, trade and sales. This body of law is now codified in the Uniform… …   Business law dictionary

  • commercial law — /kəmɜʃəl ˈlɔ / (say kuhmershuhl law) noun the principles and rules drawn chiefly from custom, determining the rights and obligations of commercial transactions …   Australian English dictionary

  • commercial law — Gen Mgt the body of law that deals with the rules and institutions of commercial transactions, including banking, commerce, contracts, copyrights, insolvency, insurance, patents, trademarks, shipping, storage, transportation, and warehousing …   The ultimate business dictionary

  • commercial law — A phrase used to designate the whole body of substantive jurisprudence (e.g. Uniform Commercial Code; Truth in Lending Act) applicable to the rights, intercourse, and relations of persons engaged in commerce, trade, or mercantile pursuits. See… …   Black's law dictionary

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