Practicing Success

Target Exam

CUET

Subject

Legal Studies

Chapter

Legal Profession in India

Question:
This law practice typically involves practicing in commercial and economic laws and advising on issues pertaining to a commercial transaction between two or parties. Which type of law practice is being referred to here?
Options:
commercial law
transactional law
intellectual property law
corporate law
Correct Answer:
transactional law
Explanation:
Transactional law at law firms typically involves practicing in commercial and economic laws and advising on issues pertaining to a commercial transaction between two or parties. This would usually include advising on the laws applicable to the transaction, drafting contracts and other documents and helping clients with the commercial negotiations and the management and execution (i.e. successful completion) of the transaction.