Commercial law, also known as trade 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. It often considered to be a branch of civil law and deals with issues of both private law and public law.
Business law and commercial law are two areas of legal practice that have so many overlapping issues that most who practice one will also have expertise in the other. Commercial law focuses on the sale and distribution of goods, as well as financing of certain transactions. Business law focuses on the other aspects of business, including forming a company, mergers and acquisitions, shareholder rights, and property issues such as leasing office or warehouse space. A business that sells products will almost certainly need a lawyer with experience in both of these fields.
Commercial law is primarily regulated by the Uniform Commercial Code (UCC), which is a model of law aimed at bringing uniformity between the laws of different states. Most parts of UCC deal with sale and lease of goods, financial instruments, and secured transactions. It’s not binding on the other states to base their laws on the UCC. However, almost all states have adopted at least some part of it in one form or the other.
Do not hesitate to contact the attorneys at Tishkoff PLC if you have questions regarding business law or litigation. The attorneys at the Tishkoff PLC law firm, located in downtown Ann Arbor, Michigan, may be reached by phone or email. This contact information is available at Tishkoff PLC’s web site: www.Tish.Law.