commercial regulation

 commercial rules Essay

Chapter 3

Commercial Regulation

I. Basic Definitions

a. Commercial Law→ It designates the whole body system of regulations & restrictions applicable to relations between persons involved in commerce, organization or commercial professions. m. Commerce→ The phrase " Commerce” means the exchange of products, products or property of any kind. It provides: sale, purchase, exchange of merchandises. c. Internal and International Commerce→ Internal: it is the commerce continued between people or companies within the same country. International: it is the business carried on among individuals or corporations in states or nations overseas to each other. m. Commercial Establishment→ It is the place where the goods and content of transact are exchanged, bought and sold. electronic. Business Concern→ It is a business enterprise formed from the business premises, goodwill, items, trade brand, lease right…

II. Sources of Commercial Legislation

→Written legal guidelines →Internal and International utilization and personalized of trade→ Jurisprudence or perhaps courts' precedents. a. Code of Business.

b. Special Laws which can be complementary to the commercial code (and inserted in explained cod): Legal Decree n°11 of Come july 1st 11th, 1967 governing the organization Concern. Legal Decree n°34 of September 5th, 1967 governing the Commercial representation. Legislative Rule n°35 of August sixth, 1967 governing Limited Legal responsibility Companies (S. A. R. L. ). c. Code of Requirements and Agreements (as the general code applied to civil matters): Those articles or blog posts of the Code which are associated with commercial transactions and they are not included in the commercial code. d. International Treaties: The provisions of Worldwide Treaties, whenever ratified (i. e.: voted & signed), prevail in the internal Laws and regulations. The Warsaw Convention of 1929 standardizing some guidelines of Foreign air transportation, with its changes. The Brussels convention of 1924 regulating the ocean going transport. The United Nations Tradition for the International Revenue of goods passed in Vienna of Apr 11th, 1980. e. Uses and Rules of Control: When written-law is noiseless in respect to the particular function of orders, the judge will deliver verdict relating to norms and uses. For instance, in case the contract will not specify a time limit to deliver the product distributed, the evaluate will consider the usages and norms adopted involving the merchants in a certain place for this particular matter. Actually practices and norms play a crucial position in commerce and in particular in international trade. f. Tendu: In the absence of an relevant legal dotacion, the judge can sophisticated verdicts upon previous situations for guidance in this certain matter. g. Doctrine: It is the opinion of jurists and scholars/professors which may be of great help inside the development of industrial law. they would. Agreement between parties: The contract is regarded as as the parties' rules, governing all their relations.

III. Industrial Activities:

A. General Definition

→The commercial activities happen to be those which will be carried out by any individual (even in the event this person is usually not a merchant) with a view of profit. →The law differentiates between dealers (merchants) and non-traders (non-merchants). The investors (merchants) will be the persons who are engaged in trading deals (commercial acts) as their " regular” occupation. As for the trader's attributes:

1 ) They are be subject to the commercial tribunals' competency, 2 . They may be declared " bankrupt”, and

3. They are considered with each other liable among each other to get the obligations they have to perform by the same contract.

M. Examples

→The Lebanese law will not grant a general definition regarding the business act, nonetheless it proceeds by the enumeration of 16 actions considered as industrial ones (in article 6 of code of commerce), of which, inter alia: 1 ) The getting goods or perhaps other portable property for the purpose of resale for profit, if intended to be bought from original form or in various form after manufacture....

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