Commercial law is the body of law that governs commercial dealings between business entities. This course explores the legal rules and principles that govern four highly significant types of commercial transactions. Sales law deals with the implied terms, passage of property and other related issues under a contract for the sale of goods. Negotiable instruments law covers cheques, bills of exchange and promissory notes. Securities transfer law deals with both direct and indirect holding systems for the holding and transferring of shares bonds and other forms of investment property. The law of guarantees deals with contractual undertakings to answer to another person's default.