Commercial law
lastmod 2020-09-22created 2020-09-221 edits
Commercial law is the law governing business management and commercial transactions. Together with civil law, it belongs to the field of private law, and it is sometimes treated as part of civil law. There are two senses: commercial law in the formal sense and commercial law in the substantive sense. Commercial law in the formal sense means an enacted code titled 'Commercial Act', that is, a commercial code, which reflects each country's historical background and legislative policy. So depending on the country and the era, some countries have a written commercial code and some do not, and even among countries that have one, its content and structure differ by country and era. Commercial law in the substantive sense means a special legal domain that can be grasped uniformly and systematically as commercial law, regardless of whether a commercial code exists or what it contains.
Structure of the Commercial Act of the Republic of Korea
The Commercial Act of the Republic of Korea is the Korean law governing business management and commercial transactions.
- General provisions
- Commercial transactions
- Company law
- Insurance law
- Maritime law
- Air transport law
Monism and dualism regarding commercial law and civil law
Like civil law, commercial law is a legal field that deals with transactions in the domain of private autonomy, and there is debate over whether it should be recognized as an independent legal system separate from civil law. That is, there is a monist view that sees commercial law as part of civil law, and a dualist view that recognizes the independence of commercial law from civil law. The Korean Commercial Act was enacted from the dualist view as a law separate from the Civil Act, and holds the status of a special civil law that takes precedence over the Civil Act for commercial transactions. Japan and Germany also have separate commercial codes independent of their civil codes. The People's Republic of China has no separate commercial code.
See also
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