What is Commercial Law? from Manav Pietro's blog

Commercial law seeks to establish a fair and efficient framework within which businesses can operate, ensuring a level playing field for all participants in the market. It sets out guidelines and regulations that govern business relationships, protecting both buyers and sellers from fraudulent practices or unfair trade practices. Understanding commercial law is crucial for entrepreneurs, businesspersons, and professionals alike, as it provides the necessary legal framework to protect and promote commerce while safeguarding the interests of all parties involved.

One of the primary aspects of Commercial Law is contract law, which deals with the creation, enforcement, and termination of contracts. A contract, essentially a legally binding agreement between two or more parties, forms the basis of most business transactions. Commercial law provides guidelines on forming valid contracts, including necessary elements such as offer, acceptance, consideration, and mutual intent. Moreover, it outlines legal remedies and procedures in case of contract breaches or disputes, offering a means to seek justice and compensation for affected parties. The law ensures that corporations comply with disclosure requirements, preventing insider trading, market manipulations, and other financial misconducts.For more detail, please refer to the info-graphic below.