https://mycommercial.law.blog/2020/02/02/law-of-contracts/

A contract is a legally binding agreement that governs duties of the parties to the agreement.

It is a body of law that regulates the conduct of persons, merchants and businesses who are engaged in trade, sales and commerce.

Branches of commercial law deal with business and financial transactions. They include :

1. Corporate law ;it deals with formation management and termination of corporations.

2. Intellectual property law ; it provides for patenting of innovations and copyrighting of creative work.

3. Law of contract ; it regulates the formation and enforcement of contracts.

4. Tax law ; it covers government levy of direct and indirect taxes on business transactions.

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