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Commercial Law

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Within the multiple branches of law, commercial law (also known as commercial law ) is one dedicated to regulating relations between people, contracts and commercial actions.

Commercial law is part of private law and includes all regulations related to merchants in reference to the development of their work. At a general level, it could be said that it's the branch of law that regulates the exercise of commercial activities.

It's important to make clear what the sources of the aforementioned Commercial Law are. In this case we can establish that these are the law, the jurisprudence that's the interpretation that the judge and the rest of the jurisdictional order make of the law, and also what is the custom. This last aspect we can say that emanates directly from what are the practices that merchants usually perform

In the case of some countries, it should be stressed that the main document in this area is the Commercial Code that was established in 1885. It consists of four books dealing with the following subjects: merchants and commerce in general, trade contracts, maritime merchant and suspension of payments, bankruptcies and prescriptions.

However, it must also be stated that in this country this type of right is based on two fundamental rules or principles. One of them is the power of the State to plan what economic activity is. And the second of these is that it recognizes not only the right to freedom of enterprise but also to private property.

It's possible to distinguish between two criteria within commercial law. The objective criterion is that which refers to the acts of commerce themselves. Instead, the subjective criterion is linked to the individual who works as a merchant.

Commercial law isn't static, but adapts to the changing needs of the market, companies and the community in general. In any case, five basic principles are always respected: it's an individualistic right (since it focuses on the links between individuals), professional (protects the interests of entrepreneurs), progressive (changes over time), internationalized (is integrated into global trade) and customary (based on customs).

The commercial law, in short, is responsible for structuring the current commercial organization and setting the conditions of the legal regulations related to businessmen, such is the denomination received by all subjects who develop activities related to trade.

Trade acts, on the other hand, are those that are specified with the intention of generating and obtaining a profit or profit.

In addition to all of the above, it's also important that we recognize the essential of Commercial Law in our society as it plays a fundamental role not only in economic development but also in political and, of course, in social. This is achieved by directly intervening in the production of goods and services that are responsible for meeting the needs of the human being.

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