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Commercial Law Courses SA
Commercial law (also known as business law, which covers also
corporate law) is the body of law that governs business and
commercial transactions. 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
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To help protect yourself from
such liability, you can choose to organize your business as
a corporation or a limited liability company, which offer
some protection to the business owners (limited partnerships
are also an option, although they will not help you if you
are going to be actively involved in running the business).
You have to be careful
however, even with a corporation or LLC, as the liability
protection is not absolute. Business owners are still liable
for things they do which are separate and apart from the
business. In addition, the protection of limited liability
can also be lost as a result of the legal theories known as
alter ego liability and piercing the corporate veil. To help
avoid having these legal theories applied, you should make
sure that you set your corporation or LLC up properly, in
accordance with the relevant state laws, and work to keep
your company in good standing.
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