Commercial Law

Commercial Law

Introduction

Commercial Law or Business Law is a branch of the civil law in the UK. It covers many components of crimes. It also covers the day to day operations of the business. Additionally, it covers the customers of businesses to whom the business sells their products and services. In particular, it covers the purchase and sale of goods. The commercial law branches out into the following laws listed hereunder.

Trades description law

Company structure law

Copyright and intellectual property law

Contract law

Health and safety law

Consumer credit law

Tax law

Discussion

The commercial law of UK is based on the law of contract with the essential doctrines related to freedom of contract the greatest level to which contracts has to be noticed. Both these elements are extremely essential in shaping the core of commercial law as without contract law it would not be capable to originate the preferred consequences. The significance of freedom of contract in the context of English law is greatly considerable particularly when we evaluate the role of freedom of contract within commercial law. The creation of financial and commodities markets have gained great pace within the English industry because it is distinguished by a proficient and flexible system.

Scope of commercial law

Commercial law is the law of trade and business as well as a subjective concept. This is historically the oldest; and it is the right of a business as it existed before the revolution. Commercial law can be defined when a buyer or seller can pass acts for the purposes of civilian life.

Taking into consideration the acts of business operations, therefore commercial law is the law of business transactions, it is the design objective that certain contracts such as transportation or sale are used in civilian life and in the course of trade. Business law consists of all the rules that apply when the business activities takes place. The significance of freedom of contract in the context of English law is greatly considerable particularly when we evaluate the role of freedom of contract within commercial law. A criticism of the business law conflicting to that of another plan is the idea of economic law which is a doctrinal design as a response to capitalism linked to a command economy.

Commercial law is the retention of the exceptions to the rules of civil law. According to Ms. Dekuwer “commercial law is a branch of private law which regulates a number of economic activities and people who engage in these activities”.

Remedies of seller

The seller has a number of remedies open to him based on the circumstances when the buyer is in the breach of a contract of sale. The types of infringement of which a buyer might be responsible and guilty are by the nature of a contract of sale of goods restricted to:

Unlawful rejection of the goods.

Failure to pay the price;

Failure to get delivery.

The remedies for the seller are based partially on whether he/she still has ownership of the goods at the time of the breach ...