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EPS Committees

Commercial Law and You

June 8, 2014 2:20 am / Leave a Comment / admin

In the field of Law, one can discover so many sub-fields or areas. A person who wishes to become a Sydney lawyer someday can end up to be a business or corporate lawyer, where he or she focuses on and studies collections, contracts, litigation, incorporation and patents particularly. He or she can also become a civil rights attorney, whose forte is constitutional law, human and civil rights, discrimination, and civil liberties; or a public interest lawyer, who specifically handles cases concerning pro bono, disability rights, health justice and environmental justice.

There are so many options one can choose from, and apart from the sub-areas mentioned above, another field that many people pursue when they become lawyers is commercial law.

What is Commercial Law?

In simple terms, commercial law governs or covers the expansive fields of commerce, business and consumer deals and transactions. Commercial law includes banking, contracts, consumer credit, debtor and creditor/ landlord and tenant, mortgages, real estate transactions, sales, negotiable instruments, and secured transactions to be specific. This particular sub-field of Law goes beyond the study of trader-merchant relationships and the regulation of it, and there are many parts of this area that still needs to be further studied. It also encompasses related problems and issues such as business bankruptcy and tax planning.

To become a commercial lawyer Sydney, or in any part of Australia for that matter, can be stressful and burdensome with all the things that can be studied and focused on this field. However, one can become happy and successful in this field if he or she really wants to help and regulate the issues concerned in here.

Handling Cases of Fraud

Lawyers who practice commercial law usually handle cases concerning lawsuits and third party contract issues. These things are common in business transactions and other things related to it. Aside from those, there is another matter that can be further studied – commercial fraud.

It is a legal term that describes deceptive and fallacious practices or legal violations perpetrated by corporate executives for their own or others’ financial gain. There are many different forms or kinds of it. Some cases involve misrepresentation and misleading statements to the general public about corporate performance just to be able to improve sales or inflate stock value. Neglecting to disclose specific income on business tax returns can also be considered as fraud. Insider trading, executive kickbacks, and misuse of corporate properties and other goods for personal gain are also forms of fraud. There are laws and regulations that are made especially for this, so as to keep things in control and not let people take advantage of others. Governments impose heavy fines and other penalties to anyone who will be found guilty.

Studying law is no easy feat. One must really strive hard his or her best in order to become successful and fulfilled in this sector. Commercial Law is only one of the many fields that one can pursue in law, and clearly it’s something to be taken seriously and passionately.

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