Contents Understanding commercial law The history of the formation and development of commercial law Principles of commercial law The concept and types of subjects of commercial law

The history of the formation and development of commercial law

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The history of the formation and development of commercial law
There are four stages in the formation and development of commercial law.
Italy is the first era (XI-XV centuries). It is widely acknowledged that this is when European business law began. A unique commercial jurisdiction and marine customs emerged in Italy as a result of its role as a middleman in trade connections among the Mediterranean nations. The birth of accounting, which was codified in Luca Pacioli's "A Treatise on Accounts" in 1494, and whose fundamental concepts are still in use today include accounting using the balance method and reflecting transactions by double entry (debit-credit).
French is the second level (XVI-XVIII centuries). The support of the state authority, which pursued the fulfillment of two strategic goals—enriching the treasury and unifying the state, defeating the separatist acts of the feudal nobility—facilitated the quick rise in the prominence and size of the merchant class in France. The Commercial Ordinance was enacted in 1673, and the Napoleonic Commercial Code followed in 1807. It was used in countries like Italy, Switzerland, Belgium, Holland, and other nations together with the French Civil Code. This is the second instance of the reception of foreign law in history, preceding the phenomenon of Roman law.
Germany's third quarter comes next (XIX century). The Broad German Commercial Code, which established the general guidelines for the nation's commodity circulation, was adopted in 1861, making this time notable. The commercial code had a role in the consolidation of Germany and the political unity of the nation by helping to create the unified German market. In 1896, Germany as a whole had already enacted the Civil Code. The Commercial Code was revised and published in 1897. At the turn of the century, practically all of Europe established distinct commercial codes as a result of this process (along with civil ones).
Japan established a business code in 1899 that also drew from German expertise.
The contemporary era of the evolution of business law is the fourth phase. The emergence of business law was a gradual process up until a certain point. However, there was a trade revolution in the 1980s in the United States and afterwards in Western Europe. Its core consists of a change in the ways that items are produced and marketed, as well as a sudden and continuous growth in sales quantities. Based on an initial analysis of the product's requirements and a projection of its sales potential, production got underway. Analysis of the market and demand has replaced manufacturing as a necessity. As a result, customer demand became the sole determinant of how manufacturing would start and continue. Overproduction problems were prevented by ensuring a balance between production and sales. The market economy has advanced to a new stage of growth and has grown more active and structured.

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