Download This PaperAn Introduction to the Commercial Law of Ghana: Defining the Scope and Boundaries of Commerce and Trade Pursuits
38 Pages Posted: 26 Jan 2022
Date Written: January 21, 2022
Abstract
Since Ghana gained independence, commercial activities and other related business and trading activities have greatly increased. As a result, it has become necessary to define the scope and boundary of the body of substantive jurisprudence that is applicable to the rights and relations of persons engaged in commerce and trade pursuits. It has become a difficult task to apply a universal definition to the term “commercial law.” The task of defining the boundaries of commercial law amongst other branches of human knowledge without trespassing on neighboring grounds that are interdependent on each other tends to be a difficult one. That notwithstanding, commercial law has attained a status of preeminence the world over and more specifically Ghana, due to factors including growth of entrepreneurial activity; the attitude of the legislature and the courts, amongst others. This paper seeks to give an introduction into the substantive jurisprudence of commercial law and also to attempt to define the scope and boundary of the subject as pertains to the Ghanaian context. In doing so, the paper traces the history and evolution of modern commercial law; highlights the characteristics and functions of the commercial law of Ghana; enumerates the sources of commercial law in Ghana; makes critical suggestions towards the codification of commercial law in Ghana and finally concludes with the challenges and future of the commercial law of Ghana.
Keywords: Commercial Law, Lex Mercatoria, Commerce, Trade, Ghana, 1992 Constitution of Ghana, Codification, Dispute Resolution, Equity, Civil Procedure
JEL Classification: K10, K12, K20, K40, K42, K41
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