1887
Volume 2013, Issue 3
  • ISSN: 2223-859X
  • E-ISSN:

Abstract

Abstract

Codifying commercial bankruptcy must be in harmony with the characteristics of both public and private life. The economic circumstances of nations do not maintain one constant rhythm but fluctuate between crisis and opulence, hardship and ease. The case is similar with the merchant, whose affairs may alternate between ease and difficulty. It is the function of commercial legislation to keep abreast of all the circumstances that may be faced by individuals and societies. While commercial activity is primarily the trade of the merchant, whether a natural or a legal person, one of the most important subjects in commercial law are the provisions laying out the principles of bankruptcy.

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2013-07-29
2019-10-18
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  • Article Type: Research Article
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