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Incorporating issues such as corporate governance, migration of companies, competition policy, social policy, tax policy and doing business with the public sector, EU commercial law examines each from the perspective of cross-border corporate management.
For example, the issue of competition is crucial to commercial law in the EU. According to Trancs: "The source of laws governing competition for the EU is embodied in the Treaty on European Union, as amended by the Treaty of Amsterdam, signed on Oct. 2, 1997. Article 81 of the treaty governs agreements between, or practices of, two or more parties acting together that have as their object or effect the restriction of competition in the EU. Article 82 governs abusive business conduct of a single party in a dominant market position."
EU competition laws apply wherever the conduct, agreement, concerted practice or abuse of dominant position could potentially affect trade between member countries (Trancs, 2000). If there...
However, by obliging member countries to adopt laws that may be inappropriate for them, it could also neutralize that potential benefit. Thus, EU commercial law remains a crucial topic for the success of the EU.
References
Rachman, G. (May 17, 2001). Europe's magnetic attraction. The Economist. Retrieved from the Internet at http://www.economist.com/surveys/showsurvey.cfm?issue=20010519.
Tancs, Linda. (May 29, 2000). Competition Laws in the European Union. New Jersey Law Journal.
Latvia, P. (October 21, 2003). European Union Commercial Law. PricewaterhouseCoopers. Retrieved from the Internet at http://www.pwcglobal.com/extweb/service.nsf/docid/FE8E368D5F9135A580256E40002A2D7B.
European Union Regulations EU law is used as a source of law to member states of the union. Article 288 of the (TFEU) states that, regulations expressed to have 'general application' means that it creates binding obligations to legal practitioners within the jurisdiction of the union. They create general law with the potential of affecting anyone who is within the reach. The EU law takes the nature of direct effect, which
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