What is the Law on Vaccines? Would you prefer to listen to this article? Click the audio file above It’s difficult to overstate just how much the Covid-19 pandemic has affected our lives. Within...
Category: Business Law
What is Business Law?
Commercial law or business law is the body of law that governs business and commerce and is often considered to be a branch of civil law and deals both with issues of private law and public law.
Commercial law regulates 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 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 US: the most successful of these attempts has resulted in the general adoption of the Uniform Commercial Code.
Business Law is also known as Commercial law or corporate 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. It is often considered to be a branch of civil law and deals with issues of both private law and public law. The word ‘Law’ has been derived from the Teutonic word ‘Lag, which means ‘definite’. On this basis, Law can be defined as a definite rule of conduct and human relations. It also means a uniform rule of conduct which is applied equally to all the people of the State. Law prescribes and regulates general conditions of human activity in the state.
Various regulatory schemes control how commerce is conducted, privacy laws, safety laws food and drug laws are some examples.
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