Commercial Law (Hoghough-e Tejarat)
Core concepts
Commercial law covers the merchant (tājer), commercial acts (a'māl-e tejāri), the commercial register, trade names and signs, and commercial obligations. Master the rules on commercial companies (sahāmi, mahdūd, tazāmoni, etc.), especially the sahmī company's capital structure, the distinction between bearer and registered shares, and the liability of directors. Understand commercial paper (barāt, sakhe, chak), the requirements of each, and the rules on bankruptcy (eflās) and composition.
Traps
Examiners test whether an act is commercial by nature or by the merchant's status, and whether a company's separate legal personality shields shareholders. For checks, know the difference between a bounced check as a civil debt and as a criminal offense, and the strict formal requirements. In bankruptcy, distinguish the date of cessation of payments (tavaqqof-e pardākht) from the adjudication date, because it determines which transactions are voidable.
Rule of thumb
Classify the act, then the person, then the consequence. Worked example: a merchant buys goods for resale; the purchase is a commercial act by nature, so commercial rules (including the shorter prescription periods and evidentiary rules) apply even if the seller is not a merchant.