What is Business Law?

Business law is sometimes called mercantile law or commercial law and refers to the laws that govern the dealings between people and commercial matters. There are two distinct areas of business law; regulation of commercial entities through laws of partnership, company, bankruptcy, and agency and the second is regulation of the commercial transactions through the laws of contract. The history of these types of laws dates back several centuries and can be seen in the peace-guilds where members would pledge to stand by each other for protection.