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Commercial Law, Also Known As Trade Law, Is The Body of

Commercial law governs the rights, relations, and conduct of businesses and individuals engaged in commerce. It includes areas like agency relationships, transportation of goods, insurance, financial instruments, contracts, and partnerships. In the United States, commercial law is regulated by both the federal and state governments, with most states adopting the Uniform Commercial Code to standardize commercial regulations. Various other laws also control business interactions with employees and customers related to privacy, safety, and product standards.

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66 views1 page

Commercial Law, Also Known As Trade Law, Is The Body of

Commercial law governs the rights, relations, and conduct of businesses and individuals engaged in commerce. It includes areas like agency relationships, transportation of goods, insurance, financial instruments, contracts, and partnerships. In the United States, commercial law is regulated by both the federal and state governments, with most states adopting the Uniform Commercial Code to standardize commercial regulations. Various other laws also control business interactions with employees and customers related to privacy, safety, and product standards.

Uploaded by

Vj Lentejas III
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Commercial law, also known as trade law, is the body of law that applies to the rights, relations,

and conduct of persons and businesses engaged in commerce, merchandising, trade, and sales.[1] 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, negotiable instruments, contracts and partnership.[2]Many of these categories fall
within Financial law, an aspected of Commercial law pertaining specifically to financing and the
financial markets. 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-visemployees
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.

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