Q.Which of the following is a recognised source of Indian Commercial Law?

Indian Commercial Law is not drawn from any one single source — it grows out of a combination of Legislation, Case Law, Custom, and Mercantile Usage, all recognised together. …

Why (d) is correct: Indian Commercial Law draws on four recognised sources together, not any single one in isolation: (1) Legislation — Acts such as the Indian Contract Act 1872, Sale of Goods Act 1930, Indian Partnership Act 1932, Negotiable Instruments Act 1881, and Companies Act 2013; (2) Case Law — binding judicial precedent from the Supreme Court and High Courts interpreting and filling gaps in these Acts; (3) Custom — long-established, certain, and reasonable local practices that courts recognise as legally binding; and (4) Mercantile Usage — established trade-specific commercial practices, read into a contract unless expressly excluded. …

A common mistake is picking only "Legislation" as the sole source of Commercial Law because Acts feel like the most formal, obvious source — but case law, custom, and mercantile usage are equally recognised sources that fill gaps legislation le …