Maxims of Commercial Law

There are ten essential maxims or precepts in commercial law.

1. A WORKMAN IS WORTHY OF HIS HIR. The !irst o! these is expresse" in xo"#s $%&1'(
)e*. 1+&1,( Mat. 1%&1%( )#-e 1%./( II Tim. $&0. )e1al maxim& .It is a1ainst e2#it3 !or !reemen
not to ha*e the !ree "isposal o! their own propert3..
$. A)) AR 45A) 5N6R TH )AW. .2#alit3 7e!ore the law. 89o":s )aw ; Moral an"
Nat#ral )aw<. xo"#s $1&$,;$'( )e*. $=& 1/;$1( 6e#t. 1(1/> 1+&$1( Mat. $$&,0;=%( )#-e 1%&1/(
?ol. ,&$'. .No one is a7o*e the law.. This is !o#n"e" on 7oth Nat#ral an" Moral law an" is
7in"in1 on e*er3one. For someone to sa3 > or act as tho#1h> he is .a7o*e the law. is insane. This
is the ma@or insanit3 in the worl" to"a3. Man contin#es to li*e> act> 7elie*e> an" !orm s3stems>
or1aniAations> 1o*ernments> laws an" processes which pres#me to 7e a7le to s#perce"e or
a7ro1ate Nat#ral or Moral )aw. B#t> #n"er commercial law> Nat#ral an" Moral )aw are 7in"in1
on e*er3one> an" no one can escape it. ?ommerce> 73 the law o! nations> o#1ht to 7e common>
an" not to 7e con*erte" into a monopol3 an" the pri*ate 1ain o! the !ew.
,. IN ?OMMR?> TR5TH IS SOCRI9N This one is one o! the most com!ortin1 maxims
one co#l" ha*e> 3o#r !o#n"ation !or 3o#r peace;o!;min" an" 3o#r sec#rit3 an" 3o#r capacit3 to
win an" tri#mph ;; to 1et 3o#r reme"3 ;; in this 7#siness. 8xo"#s $%&10( Ds. 11/&$( Eohn F&,$( II
?or. 1,&F <.Tr#th is so*erei1n ;; an" the So*erei1n tells onl3 the tr#th. Your word is your bond. I!
tr#th were not so*erei1n in commerce> i.e.> all h#man action an" inter;relations> there wo#l" 7e
no 7asis !or an3thin1. No 7asis !or law an" or"er> no 7asis no acco#nta7ilit3> there wo#l" 7e no
stan"ar"s> no capacit3 to resol*e an3thin1. It wo#l" mean .an3thin1 1oes.> .each man !or
himsel!.> an" .nothin1 matters.. That:s worse than the law o! the @#n1le. ?ommerce. .To lie is to
1o a1ainst the min".. Oriental pro*er7& .O! all that is 1oo"> s#7limit3 is s#preme..
=. TR5TH IS GDRSS6 IN TH FORM OF AN AFFI6ACIT. 8)e*. '&=;'( )e*. 0&,;'( )e*.
1+&11;1,& N#m. ,%&$( Mat. '&,,( Eames '& 1$<. An a!!i"a*it is 3o#r solemn expression o! 3o#r
tr#th. In commerce> an a!!i"a*it m#st 7e accompanie" an" m#st #n"erla3 an" !orm the
!o#n"ation !or an3 commercial transaction whatsoe*er. There can 7e no *ali" commercial
transaction witho#t someone p#ttin1 their nec- on the line an" statin1> .this is tr#e> correct>
complete an" not meant to mislea".. An a!!i"a*it is a two e"1e" swor"( it c#ts 7oth wa3s.
Someone has to ta-e responsi7ilit3 !or sa3in1 that it is a real sit#ation. It can 7e calle" a tr#e 7ill>
as the3 sa3 in the 9ran" E#r3. When 3o# iss#e an a!!i"a*it in commerce 3o# 1et the power o! an
a!!i"a*it. Yo# also inc#r the lia7ilit3> 7eca#se this has to 7e a sit#ation where other people mi1ht
7e a"*ersel3 a!!ecte" 73 it. Thin1s chan1e 73 3o#r a!!i"a*it> which are 1oin1 to a!!ect people:s
li*es. I! what 3o# sa3 in 3o#r a!!i"a*it is> in !act> not tr#e> then those who are a"*ersel3 a!!ecte"
can come 7ac- at 3o# with @#sti!ia7le reco#rse 7eca#se 3o# lie". Yo# ha*e tol" a lie as i! it were
the tr#th. Deople "epen" on 3o#r a!!i"a*it an" then the3 ha*e lost 7eca#se 3o# lie".
'. AN 5NRB5TT6 AFFI6ACIT STAN6S AS TR5TH IN ?OMMR?. 81$ Det. 1&$'(
He7. 0&1,;1'(< ?laims ma"e in 3o#r a!!i"a*it> i! not re7#tte"> emer1e as the tr#th o! the matter.
)e1al Maxim& .He who "oes "en3> a"mits..
0. AN 5NRB5TT6 AFFI6ACIT B?OMS TH E569MNT IN ?OMMR?. 8He7.
0&10;1/(<. There is nothin1 le!t to resol*e. An3 procee"in1 in a co#rt> tri7#nal> or ar7itration
!or#m consists o! a contest> or "#el> o! commercial a!!i"a*its wherein the points remainin1
#nre7#tte" in the en" stan" as tr#th an" matters to which the @#"1ment o! the law is applie".
/. IN ?OMMR? FOR ANY MATTR TO B RSO)C6> IT M5ST B GDRSS6.
8He7. =&10( Dhil. =&0( ph. 0&1+;$1<. No one is a min" rea"er. Yo# ha*e to p#t 3o#r position o#t
there> 3o# ha*e to state what the iss#e is> to ha*e someone to tal- a7o#t an" resol*e. )e1al
Maxim& .He who !ails to assert his ri1hts has none.
F. H WHO )ACS TH BATT)FI)6 FIRST )OSS BY 6FA5)T. The primar3 #sers
o! commercial law an" those who 7est #n"erstan" an" co"i!ie" it in Western ?i*iliAation are the
Eews. This is Mosaic )aw the3 ha*e ha" !or more than ,'%% 3ears an" is 7ase" #pon Ba73lonian
commerce. 8Boo- o! Eo7( Mat. 1%&$$( This means that an a!!i"a*it which is #nre7#tte" point !or
point stan"s as .tr#th in commerce. 7eca#se it hasn:t 7een re7#tte" an" has le!t the 7attle!iel".
9o*ernments alle1e"l3 exists to resol*e "isp#tes> con!licts an" tr#th. 9o*ernments alle1e"l3
exist to 7e s#7stit#tes !or the "#elin1 !iel" an" the 7attle!iel" !or s#ch "isp#tes> con!licts o!
a!!i"a*its o! tr#th are resol*e" peacea7l3 an" reasona7l3 instea" o! 73 *iolence. So people can
ta-e their "isp#tes into co#rt an" ha*e them all opene" #p an" resol*e"> instea" o! 1oin1 o#t an"
marchin1 ten paces an" t#rnin1 to -ill or in@#re. )e1al Maxim& .He who "oes not repel a wron1
when he can> occasions it..
+. SA?RIFI? IS TH MAS5R OF ?R6IBI)ITY. Nothin1 *ent#re" nothin1 1aine". A
person m#st p#t himsel! on the line> ass#me a position> ta-e a stan"> as re1ar"s the matter at
han". an" One cannot realiAe the potential 1ain witho#t also exposin1 himsel! to the potential o!
loss. 8One who is not "ama1e"> p#t at ris-> or willin1 to swear an oath on his commercial
lia7ilit3 to claim a#thorit3< 8Acts /> li!eH"eath o! Stephen< !or the tr#th o! his statements an"
le1itimac3 o! his actions has no 7asis to assert claims or char1es an" !or!eits all cre"i7ilit3 an"
ri1ht. )e1al Maxim& .He who 7ears the 7#r"en o#1ht also to "eri*e the 7ene!it..
1%. A )IN OR ?)AIM ?AN B SATISFI6 ON)Y THRO59H RB5TTAB) BY
AFFI6ACIT DOINT BY DOINT> RSO)5TION BY E5RY> OR DAYMNT. In commerce a lien
or claim can 7e satis!ie" in an3 one o! three wa3s 89en. $;,( Mat. =( Re*elation.<&
8A< B3 someone re7#ttin1 3o#r a!!i"a*it> with another a!!i"a*it o! his own> point 73 point> #ntil
the matter is resol*e" as to whose is correct> in case o! non;resol#tion.
8B< Yo# con*ene a Sheri!!:s common law @#r3> 7ase" on the Se*enth Amen"ment> concernin1 a
"isp#te in*ol*in1 a claim o! more than I$%. Or> 3o# can #se three "isintereste" parties to ma-e
@#"1ment.
8?< The onl3 other wa3 to satis!3 a lien is to pa3 it.
)e1al Maxim& .i! the plainti!! "oes not pro*e his case> the "e!en"ant is a7sol*e"..