MCQs · Q4
Q.Commercial Law (or Mercantile Law) is best described as:
(a) The entire body of law applicable in a country, covering both civil and criminal matters
(b) That branch of law which deals specifically with the rights and obligations arising out of mercantile/business transactions such as contracts, sale of goods, and negotiable instruments
(c) A set of ethical guidelines that traders may choose to follow voluntarily
(d) The law that governs only criminal offences committed in the course of trade
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Start your 14-day free trial to unlock the full solution →Why (b) is correct: Commercial Law is that branch of law — largely built on general contract-law principles — that regulates the rights, duties, and obligations of persons engaged in trade, commerce, and industry. It covers exactly the areas this two-year syllabus goes on to study: the Law of Contract, Sale of Goods, Partnership, Company Law, Negotiable Instruments, and Insurance.
Why the distractors are wrong:
- (a) describes the ENTIRE legal system of a country (covering criminal law, constitutional law, family law, and more) — Commercial Law is only one specific branch within that wider system, not the whole of it. …
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