What is the Meaning of: Commercial code | Concept and Definition of: Commercial code
In the field of law, means code all orderly and systematic legal standards governing unit so a given substance. Concerning the code of commerce, it's all the rules and precepts governing trade relations and the business in general.
Trade codes appeared with the Illustration for direct commercial activity. Thanks to the development of trade, in our days, commercial law is governed by the commercial code and other special laws through a process of decoding as well.
Historians consider that the first commercial code has been developed in France in the year 1807 and approved by Napoleon Bonaparte. The French authorities were intended to govern securities, the conformation of the companies, the stock market, bankruptcy, banking law, insurance and the competition between creditors, among other issues.
The commercial code fits in private law, in particular in its branch devoted to trade relations. The standards are intended to adapt to the dynamics of economic relations.
It is worth mentioning that the right term, from the latin directum, means "what is consistent with the rule. The commercial code, as well as other legal standards, is inspired by the postulates of justice and represents a normative and institutional order that governs the human conduct (in this case, the conduct associated with trade).
The law is imperative (it requires a right of conduct), attributive (there may require the fulfillment of what is imperative/mandatory) and bilateral (even the non-person has the right to require that the standard is respected).