what is Mercantile la? its importance
Mercantile law is a body of law or a legal code that deals with international commerce, business transactions and operations like agreements, contracts, copyrights, franchising, insurance, licensing, patents, shipping, transport, trademarks, etc.
Mercantile law is a very general term which encompasses the whole collection of business laws. The most important aspect of any business transaction is the agreement between the two parties, which is either implied or expressed.
Mercentile law effectively governs trade between businesses and consumers. It creates a regulated system that is fair for both parties so that trade can be conducted in a reasonable manner.
Without these sets of laws that govern how commerce is conducted, it would create a wild west scenario that would end up crazy for both businesses and consumers. The job of any commercial lawyer is to ensure that a business conducts commerce in line with the regulations and laws of the country they’re operating in.
So as you can probably tell now, it’s an important field of law to have some knowledge of if you’re a business owner.
Hope this helps!
