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What Is Commercial Law?

There are different areas of law that address specific and general issues and matters between people and between people and government agencies. In terms of rules and regulations with regards to commerce, business, and other transactions involving retail or wholesale. The focus of commercial law is every aspect of business.

Commercial law is a category under civil law, and covers a broad range of specific and complex problems regarding business transactions. These areas may include the sale of goods or services, as well as the distribution of such goods or services. Because of the importance of commercial law and due to its far-reaching implications, commercial law is formed by the major legislature in a jurisdiction. For example, in the United States, the Congress is tasked with forming the fundamental commercial law, which applies to all states under the US’s jurisdiction. A Uniform Commercial Code or UCC was passed by the US Congress in order to provide all businesses operating within the US jurisdiction with a standard set of rules and regulations.

Commercial law also encompasses more specific categories of law. One such category is that of consumer law since the consumer’s rights are necessary to respect in terms of the transactions entered into by consumers with businesses. A Uniform Consumer Credit Code or UCCC was passed by several states under US jurisdiction to protect and clearly define consumer rights with regards to the credit industry. Commercial law also encompasses both private and public industries; however, the application of some laws may depend upon the definition of the industry as public or private.

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