I AM CONFUSED BETWEEN COMMERCIAL LAW?, CIVIL LAW?, AND BUSINESS LAW? AND WHEN DO WE STUDY THOSE IN LLB OR LLM?
Hi Mayank, thanks a lot for your very interesting question.
Law can be broadly classified into Criminal law and Civil Law. Criminal law deals with behavior that is or can be considered as an offense against the public or the society—even if the immediate victim is an individual. Examples are murder, assault, theft, and drunken driving.
Civil law deals with behavior that constitutes an injury to an individual or other private party, such as a corporation. Examples are defamation, breach of contract, negligence and property damage. (for a detailed comparison, check out this link - https://www.britannica.com/story/what-is-the-difference-between-criminal-law-and-civil-law )
Having understood the above difference, here's a quick question – under which of the above two categories would you place Business law and commercial law? If you said, Civil Law, you are correct!
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. These two fields of law have so many overlaps that some people now-a-days use the two terms synonymously.