Commercial law (sometimes known as business law) is the body of law which governs
business and commerce. It 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 which contain comprehensive statements
of their commercial law. In the United States, commercial law is the province
of both the United States 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.
Various
regulatory schemes control how commerce is conducted. Privacy
laws, safety laws (i.e. the Occupational Safety and Health Act in the United
States), food and drug laws are some examples. |
