Medieval

This period of commercial law starts from the 11th century and continues until the 15th century. This period is the period of flourishing trade and it can be said that the period of development of trade rights and its internationalization are also three factors that are effective in creating this situation.

Political agent

The boom in the desire to consume among the people who were in war and bloodshed for centuries in the Roman government and tasted the taste of peace, encouraged European merchants to search for acceptable consumer goods for the rich to bring silk and spices from Flanders or cloth. Travel to these areas from Champagne and around Italian cities.

In these journeys, which were carried out from west to east or northern Europe, merchants who traveled in groups due to the dangers of the road stopped in different cities on the way and formed temporary markets and so-called makara markets. The king and local rulers were present in these markets in search of profiting from this booming trade. Either as a customer or as a government office holder and to collect taxes or as a judicial authority and to resolve business disputes through the courts in which office holders known as consuls were members.

The existence of a close relationship between merchants and rulers in medieval Europe led the rulers to defend the merchants against the restrictions imposed by the church on trade, and especially in a region called Lombardy in northern Italy, against the use of usury. Declare the opinion of the church as permissible and non-prosecution. Of course, this situation can be justified because the officials of this region and some other regions were themselves merchants.

Religious factor

The development and flourishing of the church’s business led them to change their ideas about commercial activity and especially about interest. They resorted to it.

In the case, it was accepted in the following premise (which is said to be the invention of cunning markets) is a writing by means of which the creditor can order his debtor to pay a certain amount to a third party who is the holder of the bill of exchange. According to the decision of the church, the creditor and the debtor should not be in the same place, and for this reason, the promissory note was used as a means of payment from one place to another, and in most cases, to convert money from one place to another. In this special assumption, the church considered the taking of interest from the creditor as a fee and as a compensation for its effort as a permissible way, which itself created a great transformation in business rights and strengthening credit.

Then, the church accepted profit in the assumption that a person gave money to another person to do business with him and share the result of the activity with him. to merchants to trade with, without being subject to the strict rules of the Church regarding usury. The mentioned contract is the parent contract of establishment in commercial law, and this type of company that is formed in this way is called a non-stock mixed company, which is the parent company of another company called a limited liability company.

union agent

This period of trade history in Europe is associated with the creation of trade guilds. With the explanation that merchants, craftsmen and artisans gathered in guild groups related to their jobs and each of them had established special professional regulations. For example, the manufacture and sale of each product was subject to special regulations, and especially each guild defended its privileges against non-members and against similar groups. The guilds were under the supervision and control of the local ruler and under the supervision of the political rulers.

The guild system had its own privileges, including vocational training of youth, defense of merchants, representation of merchants before local government officials or the king, and taking care of the economic and social status of members. But at the same time, unionism was the main cause of price increase, lack of development of technique or rejection of those who were not in the group. It seems that this situation still exists in the business world and everywhere businessmen and government officials are facing each other at different times.

However, the Middle Ages, due to the factors mentioned in this period, created many legal institutions that are still present today in business law.

The non-stock mixed company that we said is the mother of the limited liability company, the goods insurance contract against maritime risks, trade union regulations regarding the purchase and sale of various goods, the bill of exchange, which was first used as a means of converting money into another currency, and later as a means of paid, legal establishment of bankruptcy and the like.

These facilities are created in a situation where businessmen have relative freedom in front of the ruling governments. In such a way that what is interpreted as the rights of merchants reaches its highest level in the 13th and 14th centuries. From this date onwards, and especially from the 16th century onwards, the rights of merchants started to decline and a period began which can be called the era of nationalization of commercial rights and government interference in these rights. This era continues until the beginning of the last century when the desire of countries to internationalize the rules of commercial law rises again.

New period

The new period starts from the 15th century AD, some authors have spoken in detail about the business laws of this period. In short, it can be said that the business laws of the new age are different from the business laws of the Middle Ages. In this period, trade rights, which are the result of the freedom of action of merchants in the Middle Ages and were formed based on the needs of commercial activists, become state rights. The result of the nationalization of commercial law is the loss of its international character, and the interference of governments in determining commercial laws leaves no room for the free evolution of commercial law in a borderless space.

During this period in England, trade rights have lost their existential independence. In France, trade rights are made and paid by merchants in a calculated manner, under a special order under the supervision of the king. In the 18th century, the economy found a completely new and different face. This century was the century of the development of the thoughts of physiocrats and the beginning of European industrialization and trade with colonies. On April 3, 1801, a commission consisting of seven members was formed to draft the trade law bill. The drafting of the law was done very quickly and its draft was submitted for comment to commercial courts whose members had experience in business. In 1806, Napoleon, the emperor of France, ordered an urgent meeting and then issued the draft law of commerce, because the stock market led to the bankruptcy of many businessmen and shook the foundations of the French central bank.

The State Council examined the said plan from November 4, 1806 to August 29, 1807, which after being presented to the parliament, was approved in accordance with the constitution on September 15, 1807, and became effective on January 1, 1808.

The Trade Law of 1807 briefly contains 648 articles and has 4 parts. The first part is generally dedicated to business. The second part is about maritime trade, the third part is about bankruptcy, and finally the fourth part is about the jurisdiction of the commercial court. This law had flaws and deficiencies from the beginning of its formulation and approval. Especially, there was no rule about the legal establishment, which was very important for businessmen. For example, regarding the commercial nature of joint stock companies, limited liability companies, founder shares, stock exchange bonds, banks and industrial property. The rules regarding these matters were later gradually added to the commercial law or passed by separate laws.