10 characteristics of commercial law

1 year ago

The rules that regulate and control the conduct of man in a world of interpersonal relationships, are organized according to the matter to which they are oriented; specifically, the Commercial Law It is that aspect of the Right of Personal or Private action in charge of establishing each norm, principle or rule related to the activities of Commerce.

two people shaking hands to close a mercantile business

Characteristics of Commercial Law

  1. It is a slope of the Law of private or particular order: There are two main branches of law, Public and Private, alluding to the fact that the main actions can be exercised by anyone or only by the people to whom the situation concerns. In the specific case of Commercial Law, this is a type of Right of private or particular order that only concerns the interested parties.
  2. It's very special: Within the aspects of Law, Commercial Law is of a type that regulates solely and exclusively the actions of commerce between individuals, in a very special way and with normative instruments created for that purpose. Therefore, in most countries, professional jurists must carry out specialized studies to forge a complete and more accurate knowledge of their regulations.
  3. It is based on three main sources of law: Like any branch of Law, Commercial Law is based, or arises, from three fundamental elements: Law, custom and jurisprudence. Each one of them contributes, in its own way, to the development and evolution of this private aspect of Law, guaranteeing the adequacy of the norm to the habitual practice of a certain locality.
  4. It is classified into different lines of more specific order: Within the commercial activities regulated by Commercial Law, there are many species, forms, acts, etc. so, for ensure a more effective control of the regulations, this is usually classified in turn into different branches, according to the scope of application, namely: contract law, insurance law, exchange law, banking law, protocol law, etc.
  5. It is a common law: Since custom is one of the main sources of Commercial Law, it is logical that one of its characteristics is to be based on tradition or habit as its peculiarity, that is, that it is a form of justice that, despite evolving at on par with social development, It is based on the customs of the trade of each sector. Thus, we have that in certain areas, due to their very special port characteristics, for example, commercial regulations vary a little in relation to other areas oriented towards business or industrial development.

  6. It is continuous: Because, as a main feature, It grows and develops as the actions or commercial acts do of a certain town.
  7. It is of international order: Commercial Law, when regulating Commercial Acts, is oriented towards a global order aspect, since commercial exchanges take place in all corners of the world: stocks buyselling, company notarization, insurance sales, etc. In this sense, since commercial activities are mostly supported by international standards, applicable anywhere in the world, consequently, Commercial Law also acquires a internationalist notion, that is, that its standards are accepted in different parts of the world, with the pertinent exceptions.
  8. It is essential to maintain the economic order of a country: Regulating the actions where a commercial exchange is carried out, is essential to maintain a social and economic order in any country in the world, since, otherwise, the activities would lack uniformity, there would be no true justice imparted according to the needs of the citizens, and trade would be a real chaos, with no guarantee of compensation for possible material damage.
  9. It has a social purpose: Although it is not easy to denote it, Commercial Law collaborates with the social development of a country, because by regulating trade actions and everything related to them, guarantees more opportunities to access services, greater transaction capacity, fewer legal inconveniences, etc.
  10. Promotes the development of a country: When regulating each act destined to the growth and economic development of a country, such as commercial actions, Commercial Law encourages investment and industrial and business development within the territory, devoting themselves to the drafting of increasingly clear rules and that bet on the control and maintenance of justice in all aspects.

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ENCICLOPEDIA DE CARACTERÍSTICAS (2024) 10 characteristics of commercial law, en 10caracteristicas.com. https://10caracteristicas.com/en/10-characteristics-of-commercial-law/ (Consultado el: 22-06-2024)

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