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What is the Meaning of: Commercial law | Concept and Definition of: Commercial law


Meanings, definitions, concepts of daily use

Commercial law is the branch of law regulatory relationships related to persons, acts, places and commercial contracts.
Commercial law is a branch of private law and encompasses all of the standards for merchants during the exercise of their profession. At the general level, there are instead of saying that it is the branch of law which regulates the exercise of the business activity.
It is possible to distinguish between two criteria in commercial law. The objective test is that which concerns the same acts of trade. On the other hand, the subjective test has to do with the person who plays the role of merchant.
Trade law is not static, as it adapts to the changing needs of business, market and society in general. However, five basic principles are always respected: it's a law professional (insofar as it solves specific entrepreneurs conflicts), individualistic (it is part of private law and regulates relations between individuals), customary (it is based on the customs of merchants), progressive (it changes over time) and internationalized (it adapts to the phenomenon of globalization).
Finally, commercial law is intended structuring modern entrepreneurial organization and regulate the legal status of the contractor, i.e. the person who performs acts of trade. Furthermore, the acts of trade are those which are conducted to obtain profit.
Note: This translation is provided for educational purposes and may contain errors or be inaccurate.

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