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Business Law

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Brief Introduction

Business law encompasses rules, statutes, codes, and regulations which provide a legal framework within which businessmen or enterprises conduct and manage their business and which govern all kinds of business-related legal relationships. It features abundant content, the key components of which are Contract law, Sales law, Property law, Security law, Business Association law, law of agency, commercial instrument law, law of tort, etc. The development of network economy enriches the Business Law further and the Network Law also becomes part of business law. In regard to the form of business law, It contains both instance of judgment and statute law, which are indispensable.

The Uniform Commercial Code (UCC) embodies the essence of American Business Law, which is regarded as the most advanced business law in the West and which marks business law’s entry into modern time. The modernity of UCC means the law that governs market transaction is integrative and links up international trade principles. 

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