Business law, also called commerce law or corporate law, is the legal body of law that governs the conduct, relationships, rights, and responsibilities of corporations and individuals engaged in trade, commerce, and the sale. It’s often considered to be an extension of personal law and usually deals with matters of both personal law and public law.
In business law, there are three general types: contract law, tort law, and securities law. Contract law concerns contracts involving the parties, including those involved in sales, purchase, rental, lending, and leasing of property and assets. Tort law covers claims involving damages, loss, or injury, as well as compensation for injuries, claims for which damages have been awarded, or suits involving liability, including accidents, negligence, errors, and omissions.
Securities law covers transactions related to securities and investments. A court may determine that certain transactions and practices, such as those relating to securities, were fraudulent, unfair, deceptive, or misleading. Other courts may find the party’s conduct was lawful or not.
As previously mentioned, business law encompasses both public and private law. A person or company engaging in business must follow public laws in all areas of their business, even if those laws conflict with the laws that apply to their individual businesses. Private law, on the other hand, concerns itself with individual cases involving the actions or relationships of an individual. Courts and juries are more likely to rule against corporations and other organizations when dealing with these types of cases.
Commercial law is divided into five categories: contract law, tort law, securities law, public law, and private law. The sections discussed below cover the subject matter of commercial law. These topics include the types of contract law, the types of tort law, the types of securities law, the types of public law that apply to commercial law, and the types of private law that apply to commercial law. Some of the topics covered in this article are discussed in greater detail below.
Contract law is the area of commercial law that deal with the legal structure, and content of contracts. These contracts typically deal with things like purchasing a product, buying a service, or buying a license to engage in a particular business. Tort law deals with claims (those that occur in a court) concerning harm, or injuries suffered by a person as a result of an action or omission by another party. Securities law involves buying and selling of financial instruments (like bonds, stocks, bonds, stock certificates, or mutual funds). Public law refers to statutes and laws that govern the rights of citizens, governmental entities, state, and/or municipalities, and/or associations to engage in commerce. for more information business law visit www.dcattorneys.org.