Commercial Law
It is a branch of private law, and it is defined as a set of legal rules related to business that are implemented on merchants. It also regulates the craft of trade and the specific relationships arising from business, and also regulates activities related to trade, and regulates the business that arises between a merchant and a merchant. another and between the merchant and the customers, which is very essential to the world of economics and commerce.
Characteristics of commercial law
Commercial law has two characteristics:
Speed feature: As the commercial transactions are very fast and super fast; This is because the time factor in trade and making profits, and making deals is very important, and the fluctuations of the market and the economy are related to it, and also the absence of commercial law from procedures and formations that impede business is the reason for the merchant to conclude more than one deal in a short time and very quickly, and the speed in this Law is the opposite of civil law, which is slow, stable, and stable.
The property of credit, as the commercial law cares a lot about credit in an exaggerated way, and credit is summarized in giving the debtor a deadline for fulfillment. The banking system, the commercial paper system, and the companies system, as it supports protection against bankruptcy.
Commercial Law Sources
Official sources
Legislation that comes first class of sources.
Islamic Sharia, which is the second source of commercial law, and is based on the separation of commercial disputes through legal texts taken from the Noble Qur’an, the Sunnah, ijtihad, and consensus.
Custom: It is in the third degree of its arrangement among the sources, which is what merchants used to follow in terms of provisions and rules in all the organization of their commercial transactions, and custom is characterized by being unwritten, as it is an involuntary and automatic law, and custom is formed by agreement between two people on a specific behavior or organization.
Explanatory sources
Judiciary: It is defined as a set of rulings issued by various courts in all disputes related to trade.
Jurisprudence: It is defined as a group of jurists' opinions, where the articles of commercial law are explained by deriving legal provisions from sources using scientific methods.
Commercial law differs from other laws in terms of characteristics, as it contains the property of speed, especially credit, and this is what distinguishes commercial law and makes it independent and appears from civil law.
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