Difference between Commercial law

Сommercial law regulates business, trade, and consumer transactions. This right has been developed in a number of commercial areas, such as:

1)Bankruptcy( developing a plan for the debtor, regulating its debts by dividing assets between creditors, there Are procedures that allow the debtor to continue doing business and the income received is sent to repay the debt. Another purpose of the law is to help a debtor get rid of debt that has accumulated after asset allocation, even if their debt has not been fully paid.)

2)Consumer credit (it allows you to Finance transactions without paying the full cost of goods during the transaction. A common form is a credit card invoice issued by a Bank. Banks can Finance purchases through loans and mortgages.)

3)Contracts( Promises that are fixed by law. For a contract to be legally binding, it must be exchanged for remuneration. Adequate remuneration - the benefit or damage received by the party who made the promise. Promises that are gifts are not legal. Some promises are not contracts, and may be fulfilled if one party relies on the other to its detriment.)

4)The debtor and the creditor(the law regulates the situation where one party cannot perform his part . There are two types of creditors:1) those who have the right of pledge in relation to a certain part of the property. This amount should be used to pay off the debt.2) the lender may have a priority interest, 3) one who does not have the right of retention in relation to the debtor's property or is the subject of priority)

5)Mortgage( transfer of a share as a loan or other obligation. These are real estate transactions)