Sources of Business Law
The main sources of business law (1338 paragraph 1 of the Civil Code) are:
The principle of contract (agreement) itself becomes the main source of law, where each party is bound to submit to the agreed contract. (contracts made are the same as laws),
The principle of freedom of contract, whereby the parties are free to make and determine the contents of the contract they have agreed to.
Sources of General Business Law
Civil Law (Civil Code)
Commercial Law (KUHDagang)
Public Law (Criminal Economy / Criminal Code)
Legislation outside the Civil Code, Criminal Code, Criminal Code
Sources of Business Law According to Expert Munir Fuady
Legislation, namely applicable legal regulations, such as: Laws, Government Regulations, and so on.
Agreement, which is an agreement made by the parties in a business transaction. There is also an opinion which states that the agreement or contract applies as a law against the parties who made it.
The treaty, namely the provisions in relations and international law, both in the form of an agreement between the leaders of countries in the world, regulations in international law, guidelines made by world institutions, and so forth that are enforced in Indonesia.
Jurisprudence, which is a legal decision which is usually used as a guideline in formulating or being considered in the drafting of regulations or subsequent legal decisions.
Habits, which are habits that are carried out by business people in general.
Doctrine, i.e. expert opinions or legal experts related to business law. Doctrine is usually called the opinion of legal scholars.
Civil Law (Civil Code), such as contract law (contract), material rights, as a source of business.
Public Law (Criminal Economy / Business), for example economic / business crimes: Smuggling, illegal logging, corruption, etc.
Commercial Law (KUH Trade), for example bookkeeping obligations, partnership companies (Firms, CVs), insurance, transportation, securities, intermediary traders, agents / distributors, etc.).
Legislation outside the Civil Code and the Commercial Code, for example bankruptcy, consumer protection, antitrust / unfair competition, investment (PMA / PMDN), capital markets (going public), limited liability companies, liquidation, acquisitions, mergers, financing, property rights intellectual property (copyright, trademark, patent), business dispute resolution / arbitration, international trade (WTO).
Principles of Business Law
Principle of Autonomy
Autonomous business people are fully aware of what is their duty in the business world. He will realize by not just following the norms and moral values, but also doing something because he knows and realizes that it is good, because everything has been thought out and carefully considered.
The Principle of Honesty
Business will not last long if there is no honesty, because honesty is the main capital to gain the trust of its business partners, whether in the form of commercial, material, or moral trust.
Principle of Justice
This principle requires that everyone be treated equally in accordance with fair rules and criteria that are rationally objective and accountable. Justice means there are no parties who suffer rights and interests.
The Principle of Mutual Benefit
This principle demands that all parties strive to benefit each other. In the business world, this principle requires that business competition must give rise to a win-win situation.
Principle of Moral Integrity
This principle suggests that business should be carried out while maintaining the good name and good name of the company.
Principle of Business Law
In business practice the source of the contract covers two main aspects:
The contract aspect (agreement) itself, which is the main legal source, where each party is bound to submit to the contract that has been agreed upon;
The freedom of contract aspect, in which the parties are free to make and determine the contents of the contract they have agreed upon.
Business law is the rules that govern business activities so that business is run fairly.
Examples of Business Law
corporate law (PT, CV, Firma),
bankruptcy,
capital market,
PMA / PMDN investment,
liquidation,
merger,
acquisition,
credit,
financing,
debt guarantees,
securities,
labor / labor law,
intellectual property rights,
legal agreement (sale and purchase / trade transaction),
banking law,
transportation law,
investment law,
technology law,
consumer protection,
antitrust law,
agency,
distribution,
insurance,
taxation,
business dispute resolution,
international trade / WTO,
bookkeeping obligations.
In business activities, law is clearly needed in the interests of the Parties in order to realize the character and behavior of business activities in a fair, reasonable, healthy and dynamic business (guaranteed by legal certainty).