Trading business
Introduction
The term “commercial transaction” is used both in colloquial language and in a legal context. In this article, we will examine the meaning of commercial transactions in everyday language as well as the specific definition according to the German Commercial Code (HGB).
Colloquial meaning
In common parlance, a commercial transaction refers to an economic activity involving the purchase and sale of goods and services in order to make a profit. These are transactions aimed at the exchange of goods or services for money. This can include wholesale, retail, online trading, foreign trade and franchising.
Types of commercial transactions in colloquial language
- Wholesale: Purchase of goods in large quantities from manufacturers and resale in smaller quantities to retailers.
- Retail: Purchase of goods from wholesalers or manufacturers and sale directly to end consumers in small quantities.
- Online commerce: buying and selling goods and services over the Internet.
- Foreign trade: trade between different countries, including import and export of goods and services.
- Franchising: Acquiring the right to trade under the brand name of an established company and use its business model.
Legal definition according to the German Commercial Code (HGB)
In the legal sense, the term “commercial transaction” according to the German Commercial Code (HGB) refers to transactions carried out by a merchant within the scope of his commercial business. The HGB distinguishes between different types of commercial transactions, including sales contracts, exchange contracts and commission transactions.
Special features of commercial transactions according to the HGB
- Freedom of form: Commercial transactions can generally be concluded without any form, unless the law prescribes a specific form.
- Commercial purchase: A contract of sale between merchants that is a commercial transaction for both parties.
- Obligation to give notice of defects: Merchants must give notice of defects in the goods without delay, otherwise the goods shall be deemed to have been approved.
Conclusion
While in colloquial language the term “commercial transaction” covers a wide range of activities involving the purchase and sale of goods and services, in the HGB it has a more specific meaning, referring to the transactions of a merchant within the scope of his trading business. It is important to understand this distinction, especially when it comes to legal aspects and obligations associated with commercial transactions.