Commercial Law: Understanding its Impact on Individuals and Business

This report elucidates the crucial role of commercial laws, also known as business laws, in regulating commercial activities and ensuring smooth organizational functioning. It emphasizes the significance of understanding these laws for individuals in various capacities, including business owners, employees, and professionals, highlighting their rights and duties under employment laws and other relevant regulations. The report further underscores how commercial laws protect individuals from discrimination and safeguard their rights through mechanisms like contract law, which provides recourse for those subjected to losses or damages. Ultimately, the report concludes that commercial laws are indispensable for individuals across all professions, outlining their duties, powers, and the ethical conduct expected in their respective fields. Desklib provides access to similar past papers and solved assignments for students.

Commercial Law

Table of Contents
INTRODUCTION ..........................................................................................................................2
MAIN BODY...................................................................................................................................2
CONCLUSION ...............................................................................................................................3
REFERNCES ..................................................................................................................................4
INTRODUCTION
Commercial law which are also addressed by the name of Business laws are the branch of law
which regulates and govern all the commercial activities of the business(Parker & Ward,
(2020)). The applicability of such laws stands very much crucial with respect to the effective as
well as smooth functioning of the organisation. The following report is going to elaborate the
fact that what importance does the understanding of commercial laws plays in the life of an
individual of society or as a future professional as well.

MAIN BODY
The required understanding regarding the prevailing business laws of the country to an
great extent can enhance the working of both the owner as well his business. As by the way of
this one can have knowledge of the measures in which the business can be defended or the
manner in which it needs to act. Further, particularly for the purpose of general people of society,
the understanding of these laws stands very crucial as they tends to act in one or other place in
the capacity of employees or the directors or other professional(Cyman, Akhrorova &
Kalandarov, (2022)). Thus by this they can know about their alleged rights and duties which
mainly is specified under the employment laws of the country, also being one part of commercial
laws. It plays importance in the life of all the people be it the full time business owners or the
self starters or the ones who are rendering their services and goods. They also specifies the
protection for the people, working alongside of the business.
One instance of it can be the formulation of discrimination related policies in the
organisation, stating such acts to be illegal and must not be carried out against any employee or
any other individual. Here the stated protection is exhibited by the commercial laws only which
specifically has been formulated to secure the rights of everyday people(Griggs, et.al., (2018)).
The laws also aids the people in knowing the measures which defends them from the acts of
other. One such can be the application of contract law which secures the right of aggrieved
person who has been subjected to certain loss or damages by the act of other party.
CONCLUSION
From the following report it can very well summarised that the commercial laws which is
also the business laws of the country plays a very significant role in the life of an individual
irrespective of their status or profession. They also entails the various number of duties as well as
powers which lies at the option of an individual. The said laws also specifies the manner in
which the conduct of any profession is to be carried out while also entailing their rights.
REFERNCES
Parker, D., & Ward, L. (2020). Business and Law in Australia. Thomson Reuters.

Cyman, D., Akhrorova, S., & Kalandarov, A. (2022). INTRODUCTION TO COMPETITION
LAW OF SOME FOREIGN COUNTRIES (CANADA AND AUSTRALIA):
OVERVIEW. Herald pedagogiki. Nauka i Praktyka, 2(1).
Griggs, L., et.al., (2018). Commercial and Economic Law in Australia. Kluwer Law
International BV.