Commercial law revision notes

In the 17th century the work of the Admiralty courts was itself taken over by the common law courts and by the 18th century lex merctoria was fully incorporated into the common law.

Commercial law ppt

Onus is on the bailee to prove that he took appropriate degree of care under the circumstances. NB: Where possession and ownership has passed to the bailee, that ceases to be a bailment eg hire purchase. If the wrongdoer suffers double liability the later claimant must reimburse the wrongdoer to the extent of his unjust enrichment which depends on him having also received payment from the first claimant. Eg where a friend agrees to store some items for another or someone ends up with items belonging to another by mistake, there is no consideration in both cases hence no contract….. Referring to distinct areas of the law under one subject creates a problem for practitioners and students especially because the scope of commercial law is not defined. But while others will hide their revision-strewn workspaces, one second-year law student posts photos of hers, racking up thousands of likes a time. Two parties: bailor and bailee Bailor; this is a person who leaves goods in the custody of another or his agent usually under a contract of bailment. No it is not.

This is under a bailment by atonement i. Courts will listen to commercial law practitioners argue for their clients and out of this courts respond to the needs of the business community by ensuring that commercial law and practice develops and keeps up with the changing times.

The agent may not actually have any authority at all. Distinction between possessory and non-possessory is historical, to cover up for inconveniences caused by physical delivery. Creditor needs to ensure that he still receives his interest.

commercial law 101

Ostensible authority: The authority an agent appears to have to outsiders. You get ownership.

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Unit 6 commercial law revision