Commercial Law

Commercial law and consumer law are both branches of law that deal with business transactions, but they have different focuses. Commercial law focuses on the relationships between businesses, while consumer law focuses on the relationship between businesses and consumers.Commercial law is a broad term that encompasses a wide range of legal areas, including contracts, sales, intellectual property, antitrust, and securities law. It governs the relationships between businesses, including the formation of contracts, the sale of goods and services, the protection of intellectual property, and the regulation of competition.Consumer law, on the other hand, is a more specific area of law that focuses on the relationship between businesses and consumers. It protects consumers from unfair and deceptive trade practices, such as false advertising, misleading pricing, and high-pressure sales tactics. It also provides consumers with remedies when they are harmed by unfair or deceptive trade practices.

The main difference is in the fact that a Diploma gives the necessary basis for studying, whereas an LLBprovides more profound and specialised knowledge, thereby resulting in a better job and higher wages. However, the idea about which option is better, depends more on the situation and the desired occupation. Check the table below to come to a conclusion:FeatureDiploma in Corporate LawLLM in Corporate and Commercial LawLevel of StudyPostgraduate DiplomaPostgraduate DegreeDepth of KnowledgeProvides a foundational understanding of corporate lawOffers in-depth specialisation in corporate and commercial lawDurationTypically shorter, ranging from 6 months to 1 yearUsually a one-year program, sometimes longerEligibilityOften requires an undergraduate degree in law (LLB) or related fieldRequires an LLB degreeCareer ProspectsCan lead to entry-level roles in corporate departments or law firmsOpens doors to higher-level positions, such as corporate counsel or legal consultantSalary PotentialGenerally lower starting salariesHigher earning potential due to specialised expertise

Course content can vary, but common topics include:The Law of Contract: Offer and acceptance, consideration, capacity, terms of the contract, breach of contract, and remedies for breach of contract.The Sale of Goods: Contract formation, sale and transfer of ownership and risk, implied terms in contract of sale, rights of parties for breach of contract of sale.Company Law: Different forms of trading, incorporation and classification of companies, corporate management and control, rights and powers of the shareholders and duties of directors.Agency Law: Agency formation and dissolution, legal relationship between principal and agent.Negotiable Instruments: Laws governing negotiable instruments such as bills of exchange, promissory notes, cheques.Secured Transactions: Formation of securities, types of assets that can be given as a security, priority of securities.Consumer Protection Law: Measures a consumer can take in case of infringement of certain rights in commercial transactions.Competition Law: Laws that govern anti-competitive practices such as monopolies and cartels.

Commercial law is a basic and fundamental aspect of the today's business world. Studying it can equips you with:Understanding of Business Transactions: As a subset of general legal knowledge, business law exposes students to legal rules governing various operations of a business such as contracts, sales, and financing.Problem-Solving Skills: Issues related to the ability to compare the legal aspects of business and suggest appropriate actions.Risk Management: Sensitization of skills for analysis of legal implications of business functions/propositions.Negotiation Skills: Knowledge of the legal issues enhances your ability to barter in contracts in commercial law.Career Opportunities: Covers the opportunity to a vast number of areas of law such as business law, corporate law, banking law, law of patents and trademarks, and international business law.