The importance of commercial law lies in the two parameters and commercial agreements because it works to discipline and speed in the implementation and conclusion of commercial deals. In this article, we will learn more about the importance of commercial law and the degree of benefit from its existence.
Speed in Concluding Deals
Speed is today in our knowledge the basis of commercial business, and through laws, you can buy or export any product in the world and commerce, and the speed of events works to take advantage of price fluctuations and you can through speed to achieve distinctive profits and that every trader can conclude many trade agreements, and therefore came Laws thought to tighten the rules of trade agreements and make them more flexible, fast and less formal in civil law.
Among the most important a rule of commercial law is the freedom of proof in foodstuffs, and legal actions may be made, whether it is witness testimony, writing, commercial books, bills, or correspondence.
The freedom of proof extends to merchants by entering into commercial deals through several methods, the most important of which are fax, telephone, or verbal agreements. One of the special interests is to simplify procedures for trading in fixed rights, such as commercial instruments such as bills, checks, or bonds, from which it is transferred to its holder to several people for the speed of the commercial process.
Usually, commercial law is not without formalities. Commercial companies and commercial papers are subject to many formal rules for reviewing them to know what their content is, its interpretation, and its disposition.
Credit Support and Strengthening Guarantees
Credit is to give the debtor a deadline to fulfill the obligation. Most traders need time periods to fulfill and pay their obligations and implement their obligations. Therefore, merchants often buy and store goods with them before they can collect the price of the goods sold or purchased. The importance of credit comes from having rules and regulations to maintain credit and its tools as a system Commercial papers and the system of banks of all kinds and companies, and thus after credit and speed is the basis for the existence of the commercial law.