The UCC Connection: Freeing Yourself From Legal Tyranny

THE 10 MAXIMS OF COMMERCIAL LAW

In the realm of commercial law, there are 10 fundamental principles that guide the industry. These maxims serve as the cornerstone of fair and transparent practices, ensuring all parties are treated equally and with utmost integrity.

1. The principle of just compensation: A workman is worthy of his hire, reflecting the belief that individuals should be fairly remunerated for their efforts and contributions.

2. The principle of equality under the law: All are equal under the law, emphasizing the importance of impartial and unbiased application of legal statutes, regardless of an individual's status or position.

3. The principle of truth in commerce: In commerce, truth is sovereign, signifying the paramount importance of honesty, transparency, and accuracy in all business dealings.

4. The principle of affidavit-based truth: Truth is expressed in the form of an affidavit, a written statement sworn under oath, which holds significant weight in commercial proceedings.

5. The principle of unrebutted affidavit as truth: An unrebutted affidavit stands as truth in commerce, indicating that an unchallenged affidavit is considered factual and must be accepted as such.

6. The principle of unrebutted affidavit as judgment: An unrebutted affidavit becomes judgment in commerce, meaning that an uncontested affidavit can be legally binding and enforceable.

7. The principle of expression and resolution: A matter must be expressed to be resolved, emphasizing the need for clear communication and articulation of issues in order to facilitate their proper resolution.

8. The principle of default: He who leaves the field of battle first loses by default, suggesting that those who fail to actively defend their position or interests will be deemed to have conceded defeat.

9. The principle of credibility: Sacrifice is the measure of credibility, indicating that the willingness to make personal sacrifices or commitments can serve as a gauge of an individual's or entity's trustworthiness and reliability.

10. The principle of claim satisfaction: A lien or claim can be satisfied only through (a) rebuttal by counter affidavit point by point; (b) resolution by a jury; or (c) payment or performance of the claim, highlighting the specific methods by which a legal claim or encumbrance can be effectively addressed and resolved.

These 10 maxims of commercial law provide a comprehensive framework for guiding and regulating business practices, ensuring fairness, transparency, and the primacy of truth in all commercial endeavors.

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