Analysis of the concept of the objective act of trade in Maltese law

Abstract

Objective acts of trade occupy a prominent place in the Commercial Codes of many countries, including ours. Yet in none of the laws is the term 'act of trade' defined. The strenuous attempts of numerous text-writers to formulate a comprehensive juridical definition of the term have been in vain. Although a definition of acts of trade is not possible, an analysis of the various particular acts of trade is useful to be able to formulate a concept of such acts. That is the method which has been followed in this study of the objective acts of trade in Maltese Law. The legislative changes which have taken place in respect of the various acts have been highlighted in order to bring out more clearly the correct meaning of the acts and for the same purpose references have been made to the foreign legislative sources of each act and to foreign text-writers on the subject matter and to both Maltese and foreign Court decisions. The first Chapter of this study is an attempt to elucidate the concept of the objective act of trade. The first two acts of trade mentioned in our Commercial Code i.e., the purchase of moveables to resell or to let, and the subsequent sale or lease of the moveable effects purchased with that intention, are dealt with in Chapter II. Transactions based on credit are grouped together in Chapter III. Navigation is dealt with in Chapter IV, whilst Commercial undertakings are dealt with in Chapter V. Chapter VI deals with the purchase and resale of immoveables and the final Chapter deals with the accessory objective acts of trade.