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COMMERCIAL LAW by Alice Ken
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COMMERCIAL LAW |
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Education,Law,Writing
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Commercial law is one of the legal areas that have overlapping issues. The commercial law deals with contract and tort law. Commercial law is a type of law that regulates the sales and distribution of goods. It also deals with financing of some transactions. Commercial law is regulated by Uniform Commercial Code. Uniform Commercial Code is set of rules that regulate the sale of goods, leases, secured transactions and the negotiable instruments. Though the States have adopted Uniform Commercial Code, each State has the liberty to make its change to the set law. Every business faces its own unique issues, therefore when hiring a lawyer, it is very important to hire a lawyer who is familiar with Uniform Commercial Code as it is enacted in the State. Commercial lawyers tell business owners about their business. The commercial lawyers can also act as government advisers in matters of business. The commercial lawyers must have a good understanding of client business. Lawyers should also keep a high speed of the current business and the commercial climate. Commercial law firms are divided into various departments which are known as practice areas. The main areas where the commercial law firm deals with are the corporate, finance and banking and dispute resolution. The commercial law firm can also deal with small departments such as EU, tax, real estate and IP. The disputes on commercial are heard in the commercial court or in a county business court. When studying commercial law there are some terms that you are supposed to be familiar with like a Negotiable instrument, secured transactions, security, merger, and acquisition.
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