The commercial law sources can be understood as past acts that result in the creation or extinction of legal lawsat least this is what we call historical sources; At the same time, it also includes the organs or faculties from which emanate the legal system.
In turn, these can be classified into: sources of law in the material sense (material sources) and sources in the formal sense (formal sources).
The first, also called real, arise from the conflicts of each community, being regulated by the law that determines the content of the legal norms, that is, the political, social and historical elements that contribute to the formation of laws and that the legislators they should consider.
Types of material sources in commercial law
- use and custom: it is a direct and important source that is still current and based on commercial traditions; To be considered as a source of commercial law, the following requirements must be considered: be fully in compliance with current laws, the practice of the commercial sector must be active and permanent in its functions, the good conduct of merchants must be mandatory, the uses and customs will be used by legal precepts.
- Legal doctrine: it is the set of rights, theories and research that legal experts have carried out to achieve a concrete solution
On the other hand, formal sources are the processes or organs capable of creating the legal rulesin which the following can be mentioned:
- The law: are the rules established by a higher entity for the proper functioning of the rules.
- The commercial code: it is the commercial law and regulates commercial and commercial relations; It is a regulation by which companies are governed to work under the established guidelines.
- Special laws on commercial matters: they are complementary to the commercial code and are also found in civil regulations or in any other law.
All these norms and rules that lead to the application of the commercial law sources are very varied in some parts of the world. For example, in Spain bankruptcy law has already been updated, and corporate law is in process; in Mexico the legislation had its last reform in the commercial code last year (2020), while Chile also had important reforms in its laws related to Indian rights, as well as reforms in maritime laws, commercial, among other.