Commercial Law

Commercial law is an expression incapable of strict definition... It [commercial law] is used to comprehend all that portion of law of England which is more especially concerned with commerce, trade and business (Disney, 1931).

Information about Commercial Law

From the 18th century, when the major steps in the development of commercial law took place, commercial law developed continuously. This development was driven by the interaction of law and commerce, both of which were also subject to rapid technological changes. In the 19th century commercial laws were codified for the first time to make law more accessible (Furmston, 2010).

Commercial law is "concerned with commercial transactions in which both parties deal with each other in the course of business" (Sealy and Hooley, 2008:4). Commercial law governs many types of commercial activities: the sale and supply of products, carriage of goods, insurance of goods, finance of sale and leasing contracts. The content of commercial law may evolve to reflect the changing nature of business practices, such as developing technology (Sealy and Hooley, 2008). Commercial law is based on transactions, centred on contracts and the usages of the market, and concerned with dealings between merchants.

Return to Developing and Managing Contracts topic.

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