Fundamental principles in commercial activities

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Fundamental principles in commercial activities

Principle of traders’ equality before law in commercial activities: Traders of all economic sectors are equal before law in commercial activities.
Principle of freedom and freewill to agreement in commercial activities: Parties have the rights of freedom to reach agreements not in contravention of the provisions of law, fine traditions and customs and social ethics in order to establish their rights and obligations in commercial activities. The State respects and protects such rights. In commercial activities, the parties shall act on their own freewill, and neither party is allowed to impose its own will on, to force, intimidate or obstruct, the other party.
Principle of application of customs in commercial activities pre-established between parties: Except otherwise agreed, the parties shall be regarded as automatically applying customs in commercial activities pre-established between them which they have already known or ought to know, provided that such customs are not contrary to the provisions of law.
Principle of application of practices in commercial activities: Where it is neither provided for by law nor agreed by the parties, and there exist no customs pre-established between them, commercial practices shall be applied provided that such practices are not contrary to the principles provided for in this Law and the Civil Code.
Principle of protection of legitimate interests of consumers: Traders conducting commercial activities are obliged to provide consumers with sufficient and truthful information on goods and/or services they trade in or provide and take responsibility for the accuracy of such information. Traders conducting commercial activities must be responsible for the quality and lawfulness of goods and/or services they trade in or provide.
Principle of recognition of legal validity of data messages in commercial activities: In commercial activities, data messages which satisfy all technical conditions and standards provided for by law shall be recognized legally valid as documents.