COMMERCIAL LAW

Commercial Law

Commercial Law

Introduction

In contract law, the terms and conditions play a major role in commercial law, especially the provisions of the Civil Code do not engage in business conditions to an entrepreneur. The essence of commercial law is determined by the principle of legal certainty, the confidence in the actions of the merchant. Then the expansion of the registry system based (commercial register, the register of cooperatives, business register, register of shipping), power of attorney, and the extended protection trust in the warrant liability.

Commercial law is the movement of goods, which often requires the acceleration. Such formalities are partially removed and are also breaches an accelerated solution to be found. Also in the exchange and checks the acceleration principle is clear. In civil process chambers for commercial matters are also accelerated with the professional and knowledgeable judges on trade disputes, partly due to its own competence, decided in district courts established.

The concept of Commercial Law is the deals with the study of rules governing the actions necessary to activities of traders in the exercise of his profession, as well as acts by law regarded merchant even practiced by non-traders. Commercial law is the right of traders and commercial transactions.

Legal is the complex acts of interference between producer and consumer, exercised habitually, and for purposes of profit, realize, promote or facilitate the movement of products of nature and industry, to easier and ready to supply and demand. Merchants are therefore those people able to perform acts of commerce professionally with a view to profit. It requires: a) mediation, be placed between the producer and consumer; b) speculation purpose of profit, even if this not exceeded; c) acting on their own behalf and d) professionalism, characterized by habituation and repeatability. The profession can be practiced by commercial natural person or legal entity.

In this case, Exclusive winery UK Ltd (“Exclusive”) (English distributor supplying champagne to bars and high-end restaurants) enters into a contract with Cuvee Ltd (“Cuvee”), a French champagne maker and supplier to buy champagne. According to the contract, Cuvee has to supply champagne to the Exclusive, mainly champagne includes rare vintage of 1995.

This paper presents the sales of goods act UK and case law and other relevant cases for the better understanding of the Exclusive case study. The sales of goods act UK and case law makes it clear that where the dealer pitches goods in the process of a business and the purchaser, explicitly or by suggestion, makes known to the vender any specific reason for which the merchandise are being acquired. Under such circumstances, the agent is authorized with the powers of the employer to take decisions on his behalf. This is what leads to the formation of an agency. The agent has some responsibilities and duties towards the principal. This includes the duty of the undertaking of the tasks mentioned by the terms of the agency. An agent is strictly forbidden to take any action not authorized by the ...