The area of “Commercial Law” is rather sweeping. Many aspects of commercial law and commercial transactions are governed by statute—Maryland’s Uniform Commercial Code. Its provisions govern sales and leases of personal property, negotiable instruments, sales and bulk transfers of businesses, secured transactions, etc. Trade and credit regulation, consumer protection, debt collection, etc., also fall within the area of “commercial law” and are governed by statute. Subject to any limitations imposed by statute, parties enjoy the freedom of contract. A contract is an agreement between two or more people which sets forth their rights and obligations with respect to the subject matter of the agreement. Essentially, the parties establish by their exchange of promises their own “laws” and “procedures” governing their relationship. If one of the parties fails to perform as agreed and breaches the contract, the non-defaulting party can recover damages sustained and reasonably anticipated by the breach. The successful practice of commercial law necessarily demands a knowledge of other practice areas, including real estate, agency, bankruptcy, corporations and business entities, and taxes; and when necessary, litigation. The attorneys at Robins and Robins, P.A., are experienced in all areas of practice falling under the umbrella of commercial law. |