The terms commercial law, business law and corporate law are often used interchangeably. Commercial law governs commercial and business transactions.
Commercial law covers so many areas, that it is not unusual for people not to know exactly what the term means. Most commonly, commercial law and commercial transactions include the regulation of hiring practices, corporate contracts, manufacturing and the subsequent sale of goods for use by consumers. However, commercial transactions may also include merchant shipping, life and accident insurance, marine insurance and bills of exchange and partnership.
Commercial transactions occur in many fields that include, but are not limited to contracts, antitrust, bankruptcy, blue law, duress, warranty, breach of contract, remedy, lien, corporate law, company law, incorporation, limited liability company, partnership, fiduciary, agency, escrow, charitable trust, cooperative, association and dispute resolution.