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What is the definition of commercial law?
What is the definition of commercial law?
The law which governs commercial acts and contract as well as community of traders.
What is the primary source of commercial law in Egypt?
What is the primary source of commercial law in Egypt?
The disposition of agreement between contracting parties.
If an agreement between contracting parties does not exist, then the provision of the present law, or any other law related to commercial matters, will not apply.
If an agreement between contracting parties does not exist, then the provision of the present law, or any other law related to commercial matters, will not apply.
False
When there is a violation of public order in Egypt, the rules of trade custom or trade usage shall still apply.
When there is a violation of public order in Egypt, the rules of trade custom or trade usage shall still apply.
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In commercial matters, what gives primacy to the contract?
In commercial matters, what gives primacy to the contract?
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The provision of commercial law will always be used to resolve disputes, regardless of the situation.
The provision of commercial law will always be used to resolve disputes, regardless of the situation.
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Trade custom and trade usage can be used to resolve commercial disputes if they do not violate public order in Egypt.
Trade custom and trade usage can be used to resolve commercial disputes if they do not violate public order in Egypt.
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What is the role of the civil law in commercial matters?
What is the role of the civil law in commercial matters?
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What is the primary distinction between civil and commercial law in terms of grace periods?
What is the primary distinction between civil and commercial law in terms of grace periods?
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What is the main principle of liberty of evidence in commercial law?
What is the main principle of liberty of evidence in commercial law?
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In commercial law, proof can be provided by witness testimony or writing.
In commercial law, proof can be provided by witness testimony or writing.
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In civil law, proof can only be provided by witness testimony and the documentation must be handwritten.
In civil law, proof can only be provided by witness testimony and the documentation must be handwritten.
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Debtors who are bound together for a commercial debt are jointly liable for such debt unless otherwise specified by an agreement.
Debtors who are bound together for a commercial debt are jointly liable for such debt unless otherwise specified by an agreement.
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There is joint liability between civil civilians except by agreement.
There is joint liability between civil civilians except by agreement.
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Bankruptcy is a common occurrence in both commercial and civil law, with consistent legal processes for handling such situations.
Bankruptcy is a common occurrence in both commercial and civil law, with consistent legal processes for handling such situations.
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What is the difference between the handling of a bankruptcy case involving only a trader compared to one involving a civilian?
What is the difference between the handling of a bankruptcy case involving only a trader compared to one involving a civilian?
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Interest on delays in payments for commercial debts is payable as of the date of maturity of such debts, or from the date they are Judicially claimed, unless otherwise provided by law or by agreement.
Interest on delays in payments for commercial debts is payable as of the date of maturity of such debts, or from the date they are Judicially claimed, unless otherwise provided by law or by agreement.
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How long does it take for commercial transactions between merchants to expire?
How long does it take for commercial transactions between merchants to expire?
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Commercial obligations expire after 15 years in Egypt, while civil obligations expire after 10 years.
Commercial obligations expire after 15 years in Egypt, while civil obligations expire after 10 years.
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What are the two main categories of commercial acts?
What are the two main categories of commercial acts?
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Which of the following is NOT considered a commercial activity according to the text?
Which of the following is NOT considered a commercial activity according to the text?
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Which of the following is considered a commercial activity according to article 6 of the text?
Which of the following is considered a commercial activity according to article 6 of the text?
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Commercial acts by profession, according to article 5, are only applicable to the supply of goods and services.
Commercial acts by profession, according to article 5, are only applicable to the supply of goods and services.
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Commercial acts by way accessory are defined as actions that are directly connected to the trader's business affairs.
Commercial acts by way accessory are defined as actions that are directly connected to the trader's business affairs.
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All works carried out by the trader shall be considered related to his trade, unless otherwise established.
All works carried out by the trader shall be considered related to his trade, unless otherwise established.
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A person who carries out commercial transactions as a repeated activity is considered a trader.
A person who carries out commercial transactions as a repeated activity is considered a trader.
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To acquire commercial status, a person must do business on their own account.
To acquire commercial status, a person must do business on their own account.
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A merchant must have full legal capacity to acquire commercial status, meaning they must be at least 18 years of age.
A merchant must have full legal capacity to acquire commercial status, meaning they must be at least 18 years of age.
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Minors are not allowed to participate in commercial activities under any circumstances.
Minors are not allowed to participate in commercial activities under any circumstances.
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A merchant's name must be registered in the commercial registry.
A merchant's name must be registered in the commercial registry.
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If you work as a retailer or semi-wholesaler, you are considered a merchant. If you work as a wholesaler or an importer, you are not considered a merchant.
If you work as a retailer or semi-wholesaler, you are considered a merchant. If you work as a wholesaler or an importer, you are not considered a merchant.
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Working as a retailer or semi-wholesaler is not recognized as a valid commercial occupation.
Working as a retailer or semi-wholesaler is not recognized as a valid commercial occupation.
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A person who sells machines, medications, and other goods to resell them to their customers is considered a merchant.
A person who sells machines, medications, and other goods to resell them to their customers is considered a merchant.
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Individuals supplying goods or services to government agencies, such as hospitals and schools, are not considered merchants.
Individuals supplying goods or services to government agencies, such as hospitals and schools, are not considered merchants.
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The provisions of the Commercial Law apply to small craftsmen who exercise their trade with insignificant costs to obtain an amount of income securing their daily sustenance.
The provisions of the Commercial Law apply to small craftsmen who exercise their trade with insignificant costs to obtain an amount of income securing their daily sustenance.
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Employees of the government and public sector are prohibited from practicing trade.
Employees of the government and public sector are prohibited from practicing trade.
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The law protects the right of a merchant once they have registered their name in the commercial register and opened their commercial place of business.
The law protects the right of a merchant once they have registered their name in the commercial register and opened their commercial place of business.
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Which of the following is NOT considered a right of a merchant as elaborated in the text?
Which of the following is NOT considered a right of a merchant as elaborated in the text?
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If a merchant has adopted a unique business name or brand, another person can open a business with the same name or brand within the same area, provided they operate in a different trade.
If a merchant has adopted a unique business name or brand, another person can open a business with the same name or brand within the same area, provided they operate in a different trade.
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A merchant can use another person's trademark for a commodity they produce or distribute without their consent.
A merchant can use another person's trademark for a commodity they produce or distribute without their consent.
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A merchant is free to use a patent for a specific commodity without proper authorization.
A merchant is free to use a patent for a specific commodity without proper authorization.
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A merchant is entitled to join the chamber of commerce and receive benefits from their services.
A merchant is entitled to join the chamber of commerce and receive benefits from their services.
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The chamber of commerce provides authentication for merchant paperwork to ensure its legitimacy.
The chamber of commerce provides authentication for merchant paperwork to ensure its legitimacy.
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What are the two main elements that make up a place of business, according to the text?
What are the two main elements that make up a place of business, according to the text?
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The material elements of a place of business include goods and equipment that are for sale.
The material elements of a place of business include goods and equipment that are for sale.
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Which of the following is not considered a moral element of a place of business?
Which of the following is not considered a moral element of a place of business?
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A place of business cannot be considered a business unless it has a significant clientele.
A place of business cannot be considered a business unless it has a significant clientele.
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The value of a place of business increases when it is located in a busy market, due to higher rent.
The value of a place of business increases when it is located in a busy market, due to higher rent.
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A buyer can dictate terms to the seller to prevent them from opening a similar place of business in the same market area, regardless of location.
A buyer can dictate terms to the seller to prevent them from opening a similar place of business in the same market area, regardless of location.
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A place of business can be pledged as security for loans extended to the merchant.
A place of business can be pledged as security for loans extended to the merchant.
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The new commercial law limits the period of time for a place of business to be used as collateral to ten years.
The new commercial law limits the period of time for a place of business to be used as collateral to ten years.
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The commercial register is used to record information on individuals and companies who wish to practice trade.
The commercial register is used to record information on individuals and companies who wish to practice trade.
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The commercial register is updated every year.
The commercial register is updated every year.
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A register is available in every administrative quarter, recording the names of merchants and the dates they are registered.
A register is available in every administrative quarter, recording the names of merchants and the dates they are registered.
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Individuals who have been authorized to engage in a specific trade must register their name in the commercial register.
Individuals who have been authorized to engage in a specific trade must register their name in the commercial register.
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A merchant can practice trade without being registered, based on the principle of the commercial register.
A merchant can practice trade without being registered, based on the principle of the commercial register.
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A merchant cannot engage in their trade unless they are registered in the commercial register, regardless of their location.
A merchant cannot engage in their trade unless they are registered in the commercial register, regardless of their location.
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A merchant's status becomes effective from the moment they register in the commercial register.
A merchant's status becomes effective from the moment they register in the commercial register.
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Only individuals are required to register in the commercial register, not companies or organizations.
Only individuals are required to register in the commercial register, not companies or organizations.
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The commercial register is accessible only to authorized officials.
The commercial register is accessible only to authorized officials.
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The commercial register contains information on joint stock companies, partnerships, and limited liability companies.
The commercial register contains information on joint stock companies, partnerships, and limited liability companies.
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Public juristic persons, which are legal entities representing a public interest, are not required to register in the commercial register if they engage in trade.
Public juristic persons, which are legal entities representing a public interest, are not required to register in the commercial register if they engage in trade.
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Cooperative associations are not required to register in the commercial register.
Cooperative associations are not required to register in the commercial register.
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Only Egyptian individuals are required to register in the commercial register.
Only Egyptian individuals are required to register in the commercial register.
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The legal framework allows foreign individuals or companies to register in the commercial register, provided they engage in trade for specific purposes such as the purchase of land or exporting products.
The legal framework allows foreign individuals or companies to register in the commercial register, provided they engage in trade for specific purposes such as the purchase of land or exporting products.
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The commercial register requires all individuals and companies to disclose their trade license information.
The commercial register requires all individuals and companies to disclose their trade license information.
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Foreign individuals or companies are only allowed to register in the commercial register if they have a trade license from the competent chamber of commerce.
Foreign individuals or companies are only allowed to register in the commercial register if they have a trade license from the competent chamber of commerce.
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The commercial register is valid for a period of ten years.
The commercial register is valid for a period of ten years.
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The registration of a merchant can be renewed if their application is submitted on time.
The registration of a merchant can be renewed if their application is submitted on time.
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If a merchant fails to renew their registration within 90 days, their registration will be deleted from the register.
If a merchant fails to renew their registration within 90 days, their registration will be deleted from the register.
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The deletion of a merchant's information from the commercial register is always accompanied by a notification letter.
The deletion of a merchant's information from the commercial register is always accompanied by a notification letter.
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The commercial register imposes penalties for violations, including imprisonment and fines.
The commercial register imposes penalties for violations, including imprisonment and fines.
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The data recorded in the commercial register is only accessible to authorized officials.
The data recorded in the commercial register is only accessible to authorized officials.
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Information in the commercial register is opposable against third parties, meaning it can be used as evidence in legal disputes.
Information in the commercial register is opposable against third parties, meaning it can be used as evidence in legal disputes.
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The information in the commercial register becomes legally binding from the date of registration.
The information in the commercial register becomes legally binding from the date of registration.
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Individuals and companies cannot prevent their information from being included in the commercial register.
Individuals and companies cannot prevent their information from being included in the commercial register.
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Individuals are not obligated to register in the commercial register, but they can if they wish.
Individuals are not obligated to register in the commercial register, but they can if they wish.
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A trader is not legally obligated to register in the commercial register. They can avoid registration by opting to engage in any form of trade except selling goods.
A trader is not legally obligated to register in the commercial register. They can avoid registration by opting to engage in any form of trade except selling goods.
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A trader is not allowed to avoid registering in the commercial register to escape any legal obligations.
A trader is not allowed to avoid registering in the commercial register to escape any legal obligations.
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A trader's name must be registered in the commercial register of the area where their primary place of business is located.
A trader's name must be registered in the commercial register of the area where their primary place of business is located.
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Every merchant is required to keep a specific number of books depending on their business.
Every merchant is required to keep a specific number of books depending on their business.
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The books must be written in Arabic only.
The books must be written in Arabic only.
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Merchants are required to keep a daily journal and an inventory book.
Merchants are required to keep a daily journal and an inventory book.
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Merchants with a capital exceeding twenty thousand Egyptian Pounds are not required to keep books.
Merchants with a capital exceeding twenty thousand Egyptian Pounds are not required to keep books.
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Merchants are not allowed to use computers to keep their books.
Merchants are not allowed to use computers to keep their books.
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The daily journal is considered the most important book in commercial law.
The daily journal is considered the most important book in commercial law.
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Personal drawings can be recorded in the daily journal, but they must be separated by month.
Personal drawings can be recorded in the daily journal, but they must be separated by month.
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The inventory book must be updated every year.
The inventory book must be updated every year.
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A copy of the annual balance sheet and the profit and loss account must be included in the inventory book.
A copy of the annual balance sheet and the profit and loss account must be included in the inventory book.
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Copies of both received and sent correspondence should be kept in a separate correspondence book.
Copies of both received and sent correspondence should be kept in a separate correspondence book.
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The legal framework requires merchants to keep their books free from any empty spaces or deletions.
The legal framework requires merchants to keep their books free from any empty spaces or deletions.
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Merchants are required to keep copies of all their correspondence, cables, and other documents for a period of 10 years.
Merchants are required to keep copies of all their correspondence, cables, and other documents for a period of 10 years.
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Commercial books can be used as evidence in court.
Commercial books can be used as evidence in court.
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The court can demand the trader to submit their books for examination during a legal dispute.
The court can demand the trader to submit their books for examination during a legal dispute.
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A trader can prevent third parties from accessing their commercial books.
A trader can prevent third parties from accessing their commercial books.
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A trader can prevent third parties from accessing their commercial books, except in cases of litigation connected with succession.
A trader can prevent third parties from accessing their commercial books, except in cases of litigation connected with succession.
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In a case of bankruptcy, the court can demand the trader to submit their commercial books for examination.
In a case of bankruptcy, the court can demand the trader to submit their commercial books for examination.
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The commercial books are delivered to the court only in a case of bankruptcy.
The commercial books are delivered to the court only in a case of bankruptcy.
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The commercial books are delivered to the bankruptcy assignee.
The commercial books are delivered to the bankruptcy assignee.
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The pages in the journal and inventory books must be numbered, but signatures are optional.
The pages in the journal and inventory books must be numbered, but signatures are optional.
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The commercial books are considered the responsibility of the workers.
The commercial books are considered the responsibility of the workers.
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Commercial books are maintained for a period of five years.
Commercial books are maintained for a period of five years.
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The commercial books must be updated each year with annotations indicating the closure or termination of the book.
The commercial books must be updated each year with annotations indicating the closure or termination of the book.
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The content described in the text is a comprehensive guide to commercial law in Egypt.
The content described in the text is a comprehensive guide to commercial law in Egypt.
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This text is sufficient to be used as a sole source for studying Commercial Law in Egypt.
This text is sufficient to be used as a sole source for studying Commercial Law in Egypt.
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Study Notes
Commercial Law
- Commercial law governs commercial acts and contracts involving traders.
Sources of Commercial Law
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Article 2 of Egyptian Commercial Law states that commercial matters are governed by the agreement between parties.
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If no agreement exists, the relevant provisions of the Egyptian Commercial Law or any related laws apply.
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If trade customs or usage exist, then the provisions of civil law apply.
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If the agreement violates public order in Egypt, the rules of trade custom or usage do not apply.
The Contract
- In commercial transactions, the contract takes precedence over other sources of commercial law, except if it contradicts public order.
Commercial Law Provisions
- Commercial law provisions or other relevant laws apply in case of loopholes in the contract.
Trade Custom and Usage
- Trade custom and usage apply with the condition that they do not violate public order.
Civil Law Provisions
- Civil law provisions apply to commercial matters in dispute.
Grace Periods
- Courts may not grant grace periods or allow installment payments for commercial debts without necessity, unlike civil law.
Rules of Evidence
- Commercial law principles allow for greater freedom of evidence than civil law, except for companies, ships, and commercial papers.
Joint Liability
- Debtors in commercial agreements are jointly liable unless otherwise stated in the agreement. This differs from civil cases.
Bankruptcy
- Commercial debts apply to only traders in bankruptcy cases, and does apply in matters of civil debt.
Interest on Money
- Interest on delayed commercial payments is considered from the date of maturity, unless stated otherwise in an agreement.
Prescription
- Prescription for commercial transactions between merchants is 7 years, or 10 years in certain cases according to law, while civil obligations expire after 15 years.
Types of Commercial Acts
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Individual commercial acts are considered for commercial purposes even if done only once, such as buying or renting movable assets. Commercial activities also include establishing companies and other relevant categories.
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Other works such as shipbuilding, sea/air transport, or employing navigators are classified as commercial activities.
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Commercial activities include service/goods supply, industry, inland transport, and insurance.
Commercial Acts by Way of Accessory
- Acts done by a merchant related to his business are considered commercial activities, unless otherwise stated.
Mixed Acts
- Commercial and civil actions, such as a civilian purchasing from a commercial store, are considered mixed acts.
Definition of a Trader
- A trader is someone who regularly engages in commercial transactions.
Conditions for Acquiring Commercial Status
- To be considered a merchant requires practicing commercial activities as a profession, doing business on one's own account, having legal capacity (minimum 21 years old), and registration in the commercial registry. Certain exceptions exist, like court allowance for minors in certain activities or retailers/semi wholesalers who are merchants.
Exemptions
- Small craftsmen are exempt from the general commercial law provisions if their income meets their daily sustenance needs and are not considered merchants.
Rights of a Merchant
- Merchants' rights are safeguarded by the law once they register their names and businesses, and include protection of the commercial name or brand, ability for trademarks, or patents used, and the right to keep commercial records.
Chamber of Commerce
- The chamber of commerce provides services to merchants, authenticates documents to assist in commercial transactions, and promotes legitimacy throughout the country.
Place of Business
- Place of business assets can be pledged as security (subject to stipulations in the law). The place of business includes material aspects like goods, equipment, and moral aspects like clientele.
Commercial Register
- The commercial register is a record of merchants, with the name of the merchant in the register tied to a location. For transactions to be considered valid, registration is essential if required by law.
Mandatory Requirements for Registration
- Individuals, partnerships, joint stock companies, partnerships with shares, and limited liability companies must register. Foreigners and companies with foreign participation may also register if certain conditions are met.
Public Declarations
- Registration in the commercial registry must be publicly listed and is valid for five years. There can be renewal, and there are provisions for removal for nonrenewal, cessation of activity, etc.
Cancellations
- Commercial registry cancellations may occur due to cessation of activity, death, emigration, or liquidation. If not properly deleted, this can lead to penalties.
Penalties for Violations
- Penalties exist for violations regarding commercial registration. These can include fines or imprisonment.
Recording Commercial Information
- Details of commercial activities (goods sold, etc.) and relevant documents (correspondence, etc.) must be recorded in the commercial registry.
Book Retention and Evidence
- Merchants must keep business records for a specific time period (5 years). These records are admissible to courts in case of disputes.
Book Formats
- The law dictates that a specific set of books (daily journal, inventory, correspondence) must be kept to record business activities. Format and use of these books is set by the law.
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Description
This quiz focuses on the essentials of commercial law, specifically related to contracts and trade relationships. Learn about the sources of commercial law, the importance of contracts, and the interaction between trade customs and public order. Perfect for those studying Egyptian commercial law.
