The commercial law or right commercial as it is also known worldwide is the branch of law that is responsible for regulating the different relationships that exist between individuals , the contracts and trade . It is part of private law, which includes the different rules regarding the development of commercial work.
Commercial law is the branch of law that is responsible for exercising the different laws to regulate the exercise of all commercial activities that take place in a given place and that regulates merchants in the exercise of their profession.
- What is commercial law?
- Characteristics of commercial law
- Legal nature
- Background and history of commercial law
- General principles
- Importance of commercial law
What is commercial law?
It consists of regulating the rights , legal relationships and conduct of people and companies engaged in trade , including aspects such as land and sea transport, the merchant marine; the different life and accident insurance, bills of exchange, checks and associations. It consists of drafting laws to regulate company contracts , hiring practices , and the manufacture and sale of consumer goods .
Characteristics of commercial law
- It is a right created to regulate the relationship and conflicts that may arise between employers.
- It is part of the private law that regulates the relationship between individuals regardless of the actions of public powers .
- It is based on the tradition of merchants .
- It is a type of law that needs to be continually updated .
- It has internationalization .
- The regulations governing these business relationship interactions also need to be updated and regulated.
- In the event that there is no rule that regulates a certain action, it must be governed by civil law .
Its legal nature is to function as a public law that addresses the relationships that may arise between merchants , monitoring people who are of a commercial nature and merchants, who are natural persons at the same time.
Background and history of commercial law
Commercial law was born together with commercial law during the Middle Ages , in Greek and Roman civilization as a set of rules and principles that were related to merchants and commercial transactions which had been adopted by the merchants themselves to regulate their business. business relationships. In this way, commercial law was developed in the early 11th century as a measure to protect foreign merchants who were not under the jurisdiction and protectionof local law. Foreign merchants were often subject to seizures and other types of harassment so a type of law was needed whereby the merchants themselves could negotiate contracts, associations, trademarks, and various aspects of buying and selling. The merchant of law gradually spread as the merchants went from place to place. The courts established by the traders themselves at trade shows or in cities, ran a law uniform in Europe , regardless of differences in laws and national languages. It was based primarily on Roman law , although there were some Germanic influences; and this formed the basis for modern business law .
Some general principles of commercial law are the following:
- The organization is honest when it does not harm another.
- Deposit is what was given to someone to keep.
- Entrusting is nothing more than depositing.
- The thing deposited remains deposited in the property of the depositor.
- The deposit does not transfer ownership or possession or use, it is simple custody.
- In the deposit, compensation does not take place.
- The depositary must take care of the deposit as of his own things.
- By mutuality the same thing is not returned. but another, but of the same gender.
- There can be no loan if money is not involved .
There are three sources that govern commercial law:
- The Law or Code of Commerce
- The different uses of Commerce
- The Civil Law
Importance of commercial law
It is important because it regulates the entrepreneurs and owners of companies and acts they perform to achieve development in their economic activities . It regulates private activities and relationships also between entrepreneurs and their clients . It is the right of a person, the merchant and the acts he performs through his company, emphasizing the market.
The following are examples of commercial law:
- Regulation of the rights and duties of entrepreneurs , as well as the duties and rules applicable to companies or social entrepreneurs.
- Commercial contracts with sale, commissions and commercial loans.
- Financial market law that involves banking, insurance and investment entities.
- Right to competition .
- Law on patents and utility models .
- Bills of exchange, promissory note and checks .
- Right to navigation .