Meaning of commercial law (what is it, concept and definition)

What is Commercial Law:

Mercantile Law is a branch of Private Law that regulates the commercial acts established in the legal system and to individuals whose usual profession is that of a merchant. In the aforementioned definition, the 2 criteria of Commercial Law are observed; objective criterion that which refers to the acts of commerce itself and the subjective criterion is that which indicates the individual as a merchant.

Mercantile Law was created to solve conflicts and activity between businessmen, for which it is called professional law, and it is a customary law since it is based on the custom and uses of merchants and progressive, which evolves in conjunction with social measures. and economic of a country.

Mercantile Law is an individualistic law since it is a branch of Private Law, which is why it does not participate in the legal relations that intervene in the public powers. Commercial Law is special since it differs from Civil Law, it is also part of Private Law, since the first regulates the demands and needs of commerce and the second regulates family and property relations.

Currently, economic relations are becoming more international, which is why there are bodies in charge of regulating this type of relationship, such as UNCITRAL of the United Nations.

Commercial law regulates commercial acts that cause legal effects in the commercial field, subjects of the relationship of Commercial Law such as the merchant, businessman, commercial companies; the commercial contracts signed by the previously identified subjects obliged to comply with the provisions of the contract. Likewise, Mercantile Law regulates mercantile companies created for economic purposes and judicial or administrative processes in order to enforce the obligations subscribed in the contract and protect the rights of merchants, businessmen, mercantile companies.

Origin of Commercial Law

In the ancient age, the first body that speaks to us of Mercantile Law is the Maritime Laws of Rhodios, laws of great influence in the maritime peoples and in Roman Law. In Roman Law, there are rules applicable to commerce but within Civil Law such as regulations regarding movable property. In the Middle Ages, the crusades arose and from that moment the economic power of the great maritime merchants in Europe began to be born, which were in charge of supplying different species that were not available on the European continent. in order to protect and regulate the activity of merchants. In the modern age, the cities that became the economic and political center were born. Basically, the people who dedicated themselves to commerce were the artisans who sold their merchandise at fairs.

Commercial Law is a customary Law, that is, it was born out of the use and custom of merchants and basically two laws existed: the maritime and land commercial law. The person in charge of resolving conflicts were judges who in turn were chosen by merchants.

Sources of Commercial Law

• Law: it is the norm of legal rank created by the competent authority with due formalities.

In Mexico, on September 1, 1890, the Commercial Code promulgated on September 15, 1889, which is similar to the Spanish Commercial Code published in 1885, came into force.

• Uses and customs: it is the repetitive behavior on the part of the society and considering that it can be the object of a legal or judicial sanction. Jurisprudence: it is the interpretation of the law that the Supreme Court of a country makes. elaborated by legal scholars called jurists. International Treaties: they are agreements concluded between states or between states and an international organization.

In Mexico, Civil Law is a source of Commercial Law to fill the gaps in the Commercial Code and other commercial laws.

Importance of Commercial Law

Commercial Law regulates the economic activity of commerce and the merchants themselves, therefore, Commercial Law is of utmost importance for the economic and social development of countries due to the control in the production and intermediation of goods and services essential for tailoring of the needs of the individuals that make up a country. Likewise, Commercial Law is important for the protection of merchants and regularization of their activities.