Commercial Law

A phrase used to designate the whole body of substantive jurisprudence applicable to the rights, intercourse, and relations of persons engaged in coinmerce, trade, or mercantile pursuits. It is not a very scientific or accurate term. As foreign commerce is carried on by means of shipping, the term has come to be used oceasionally as synonymous with “maritime law;” but, in strictness, the phrase “commercial law” is wider, and includes many transactions or legal questions which have nothing to do with shipping or its incidents.