Commercial law, also known as business law, is the body of law that applies to the
rights, relations, and conduct of persons and businesses engaged in commerce,
merchandising, trade, and sales.[1] 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. Many countries have adopted civil codes that contain
comprehensive statements of their commercial law.