Civil law, which is also referred to as mercantile or commercial law, is the group of rules that governs the dealings between individuals or companies involved in commercial matters. These laws can be enacted by:
- International or national legislation
- Agreement
- Convention
This branch of law relates to the liabilities, duties, and legal rights of individuals or businesses involved in transactions that relate to merchandising, sales, commerce, and trade. Business law includes private and public laws as part of civil laws.
Business law may govern legal aspects such as:
- Insurance (accident, life, marine, or fire)
- Relationship between principal and agent
- Banking
- Indemnity and guarantee
- Carriage by land or sea
- Partnership