Commercial law consists of those laws that govern business transactions involving the representation of individuals or companies in the formation of limited liability entities, general and limited partnerships and corporations, shareholder agreements, buy-sell agreements, transfer agreements, shareholder or member restrictive agreements and other transactions.
Commercial law is generally governed by the law of contracts, more specifically the Uniform Commercial Code (UCC), which has been adopted by all states except for Louisiana. Nevertheless, there are wrinkles to each state's UCC, so be sure to check individual commercial laws in your state. The UCC allows commercial organizations to do business across jurisdictional boundaries with confidence because these organizations are fairly certain that the same rules apply in each jurisdiction.
Commercial lawyers represent businesses in breach of contract claims, business torts, fraud claims, antitrust suits, and class action lawsuits.
Copyright Calliope Media, Inc. © 2011 --- All Rights Reserved.