Commercial Law



Commercial Law

Introduction

Commercial Law is a regulatory body that rightly apply the rules, regulations and business & person conducts in case of the issues related to trade, sales, merchandizing and commerce. The commercial law in United Kingdom mainly focuses on the Sale and purchase of the goods and services of the business that regulates under the geographical boundaries of United Kingdom. Modern Commercial Law is developed by Special courts and judges in United Kingdom to develop the principles under the Common law of the country to facilitate the needs of the merchants (Carr, Indira, 1999). This core needs results in the progression of the Commercial Law and focused more specifically on the issues and dilemmas that appeared frequently in order to provide a legal social under an acclaimed Body of Law (Davies, Iwan, 2005).

Discussion

Aims of Commercial Law

The first purpose was to meet and satisfy the needs of the merchant's commercial community and in result to facilitate their post trade needs. The Law was initially developed to satisfy the noble class legal need to get ensured once they entered in the commercial sale of any good and service (Pistis Marco, Diritto internazionale, 2005).

The second aim was to cater the business community with the legal predictability issue for a reason that unpredictable business climate is unacceptable for the potential investors and even to the merchants involved in the daily business and trading activities.

The third aim was to develop a perfect balance between the flexibility and the predictability. Primarily the business customs were irrespective of the law at personal level but Commercial law does not only confine to the customs of the business. It was developed to make it possible to challenge the business customs in the court and to established new and improved customs to challenge the businesses if found incompliant (Fazio, Silvia, 2007).

Commercial Law &Remedies of Buyers &Sellers

The new regulations of consumer protection are now implemented that protects the buyers and the sellers from the illegal practices and give them a remedy from their respective issues. The main purpose of the CPR (Consumer Protection Regulation) is to protect from the unfair regulations of trading in 2008 and to enforce the European Union Unfair Commercial Directives and Practices. To secure the fair regulations 31 practices that were deemed under the unfair circumstance were blacklisted by the government. Commercial Law also consolidates the consumer protection and the seller protection and streamlines in United Kingdom. For this purpose government has altered the Consumer Act of Protection and Trade's Description Act to control the misleading actions of advertisements. The main purpose is to protect the Consumers from the purchase of the harmful products and to protect the rights of the sellers as well.The Commercial Law stated the following remedies of buyers and the sellers:

Remedies of the Seller

Action of the price states the remedy for the seller that it can claim against the wrongful act of the buyer if the buyer makes a wrong claim of price or refuses to pay the price to the seller(Personal ...