Impact of celebrity endorsement on consumer buying behavior

Business law and commercial law are the two laws that deal with the business and commercial transactions. It encompasses the formation of business management, commerce and consumer transaction. The commercial law consists of debtor Law, creditor law, sales and secured transaction. It also has the regulations and rules for the land cargo, sea cargo, merchant shipping, marine and accident insurance. There are various laws, which describe how the commerce should be taken care with the compliance, privacy laws, safety laws, foods and drugs law. Negotiable instruments and Secured transaction are the two most important areas of commercial and business law. In secured transaction, borrower agrees on the collateral, which is owned by the borrower will be taken by lender. If in any business, party borrows money from the bank or from any other financial institution. In this case, the lender needs more than just promise to repay the loan amount. Hence, the law of collateral interests formed between borrower and lender.