Introduction to Commerce Law

Commerce is a division of trade or production which deals with the exchange of goods and services from producer to final consumer OR commerce is the exchange of goods and services from the producer to the consumer. It comprises the trading of something of economic value such as goods, services, information, or money between two or more entities. Commerce functions as the central mechanism which drives capitalism and certain other economic systems. Commercialization or commercialisation consists of the process of transforming something into a product, service or activity which one may then use in commerce. Commerce involves trade and aids to trade which help in the exchange of goods and services.

Commerce law, known also as Commercial Law or Business Law, is the body of law that governs business and commercial transactions. It is often considered to be a branch of civil law and deals with issues of both private law and public law.

Commercial law includes within its compass such titles as principal and agent; carriage by land and sea; merchant shipping; guarantee; marine, fire, life, and accident insurance; bills of exchange and partnership. It can also be understood to regulate corporate contracts, hiring practices, and the manufacture and sales of consumer goods.