BLAW 3202 Commercial Transactions
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Commercial Transactions are usually defined as payments for a specific type of goods or services. There are many forms of commercial transactions, including those between two independent companies, that is, transactions between consumers and companies, between companies and government agencies, and between internal departments of companies. Commercial transactions can be carried out on a large or small scale. In short, business operations are at the heart of doing business.
Rules for commercial transactions: The most common types of business transactions are discussed below, including specialized areas of law and legal instruments such as the sale of goods and proof of ownership. Although the details are different, all business transactions have one thing in common: they transfer economic value (such as materials, products, and services) from those who wish to exchange it for another value (usually money) to those who need them. The purpose of the relevant legal provisions is to regulate this exchange of values, clarify the rights and obligations of all parties and provide a remedy when one of the parties violates its obligations or does not fulfil its obligations for any reason.
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