Track Your Request
Track Your Request
+91-7604047602 Our Team About Us Legal Blog Free Legal Advice Login
Menu
Vidhikarya Text Logo
arrow_back
Commercial Lawyers
Commercial Lawyers

Commercial Laws

Common questions on ‘Commercial Laws’

  • What is commercial law?
  • Is there any difference between commercial law and business law?
  • What is the difference between corporate law and commercial law?
  • What is the role of a commercial advocate?
  • What are governing rules or acts to establish commercial law in India?

What is commercial law?

Commercial Law does not have a fixed meaning in India. Broadly speaking there is not much distinction between a commercial and a non-commercial contract. Specialised Commercial Courts do not exist however for purposes of expeditious adjudication special courts are set up from time to time. As a matter of general practice, commercial laws include all the laws that can be attracted as per the factual nature of the commercial setting, i.e. the applicable laws vary from case to case.

Commercial Laws could have been derived from multiple sources. The Legislature is evidently the most prominent source as it has a clear binding nature which is beyond questioning in practice. English Mercantile Law influences Indian Commercial Laws, for example, Lex Mercantoria influences Indian policies. Judicial Precedents act as a guiding force and can have the same powers as a legislation is the legislative policies are silent on a particular issue. Customs and standard business practices are given importance in the domain of commercial laws, customs can also get legal recognition by Courts accepting them in a precedent or a legislation giving validity to a custom.

However, from the wide plethora of laws that can be applied in the domain of commercial laws, some of the prominent ones include:

  • The Indian Partnership Act 1932 - A partnership firm is not a distinct legal entity apart from the partners constituting it, i.e. a partnership firm is not a ‘person in law’, but is merely an association of individuals.
  • The Companies Act 1956 – A company is a juristic person. This Act regulates Companies in India.
  • The Income Tax Act 1961 – regulates income tax in India. Provides for the method, reliefs etc. available in income taxes
  • Goods and Services Tax - Goods & Service Tax is a comprehensive tax mechanism wherein all the major indirect taxes have been clubbed as one. It aims at the reduction of the cascading effects of taxes. GST eases the process of doing business.
  • Indian Contract Act 1872 - Contracts are basically agreements that have the power of legal enforceability and protection. As per Section 2(e) of the Indian Contract Act 1872, agreements refer to ‘every promise and every set of promises, forming consideration for each other’. As per Section 2(h) of the ICA, a contract is “an agreement enforceable by law”. Contracts are governed as per this Act
  • Negotiable Instruments Act – this Act regulates negotiable instruments which are commonly used in commercial activities. For example, Section 138 of this Act deals with the issue of cheques bouncing.
  • Consumer Protection Act 1986 - Consumer protection laws aim at the protection of the interests and rights of consumers. These laws aim at changing the mentality of the market from “Caveat Emptor” (let the buyer beware) to “Caveat Venditor” (let the seller beware).

 

 

Read More

Search Result : Commercial Lawyers

Consult Expert Commercial Lawyers in India

626a54b03220379f68226d9be1a9da39.jpg

Abhimanyu Shandilya

Kolkata |

Area of Practice

  • Commercial
  • Criminal
  • Anticipatory Bail
  • Military Laws
  • Adoption
Total Answers Given : 1997
9aa78900a10a83a5981c6666aa3ec235.jpg

Advocate Anik

Bangalore |

Area of Practice

  • Commercial
  • Consumer Protection
  • Admiralty and Maritime
  • Arbitration and Mediation
  • Child Custody
Total Answers Given : 10376
e4a7dcc2a202d7c0c5cdd057718ef985.jpg

Prithvi Raj Sikka

Delhi |

Area of Practice

  • Commercial
  • Intellectual Property, Copyright, Patent, Trademar
  • Civil
  • Trust And Society (NGO)
  • Contracts and Agreements
Total Answers Given : 19
791ef69092d242809f85a377260c6979.jpg

Shrikrushna Tambde

Nagpur |

Area of Practice

  • Commercial
  • Arbitration And Mediation
  • Child Custody
  • Corporate And Incorporation
  • Debt Collection
6e19c61448202e9104134f3cbf493acd.jpg

Kalpana Sanap

Pune |

Area of Practice

  • Commercial
  • Trust and Society (NGO)
  • Maternity
  • Will
  • Advertising
Total Answers Given : 10
61db1731caba91162999b4a288e51335.jpg

Rhea Luthra

East Delhi |

Area of Practice

  • Commercial
  • Debt And Lending Agreement
  • Advertising
  • Power Of Attorney
f432d3f4b4e6587ff04cc48e7f2d5785.jpg

Prabhu N. Savanur Founder, Hari Om Legal

Bangalore |

Area of Practice

  • Commercial
  • Cheque Bounce
  • Criminal
  • Motor Accident
  • Registration
Total Answers Given : 1
cd685b4710f01086b7785ba11d2be697.jpg

AR Legal Firm

Bangalore |

Area of Practice

  • Commercial
  • Maternity
  • Trust And Society (NGO)
  • Divorce
  • Debt And Lending Agreement
Total Answers Given : 14
f3ba637bf39ba892b160f9ff971f8de6.jpg

Dr Gubbi's House of Justice

Bangalore |

Area of Practice

  • Commercial
  • International Laws
  • Mergers and Acquisition
  • Criminal
  • Industrial Laws
26d51e7f622fa639685cf3de8994f14a.jpg

Lawmatics India (Adv Mukesh Mishra-Founder)

|

Area of Practice

  • Commercial
  • Civil
  • Property
  • Human Rights
  • Muslim Laws

Symbol for Lawyer
Find Lawyers by Location


Confirm

Are you sure you want to request for this Advocate's number?

X
Are you
looking for
Legal
Help?
Post your matter to connect with the Lawyers Online
Our Team
Lawyer Login
Be a Partner
Internship
Career

Download the Lawyers App on

Vidhikarya App on Android Platform
Contact Details
7604047602
[email protected]
No. 2, First Floor, Subharaj
Plot No. CE/1/C/19, Premises No. 18-0208,
Action Area- 1, New Town
Kolkata-700156