A court exercising jurisdiction over maritime causes, both civil and criminal, and marine affairs, commerce and navigation, controversies arising out of acts done upon or relating to the sea, and over questions of prize. Also, the system of jurisprudence relating to and growing out of the jurisdiction and practice of the admiralty courts. In English law. The executive department of state which presides over the naval forces of the kingdom. The normal head is the lord high admiral, but in practice the functions of the great office are discharged by several commissioners, of whom one is the chief, and is called the “First Lord.” He is assisted by other lords and by various secretaries. Also the court of the admiral. The building where the lords of the admiralty transact business. In American law. A tribunal exercising jurisdiction over all maritime contracts, torts, injuries, or offenses. 2 Pars. Mar. Law, 008; New England Marine Ins. Co. v. Dunham, 11 Wall. 1, 23, 20 L. Ed. 90; De Lovio v. Boit, 2 Call. 398, Fed. Cas. No. 3,77(5; The Belfast v. Boon. 7 Wall. 024, 19 L. Ed. 200; Ex parte Eastou, 95 U. S. 08, 72, 24 L. Ed. 373.
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The UCC Connection
THE 10 MAXIMS OF COMMERCIAL LAW 1. A workman is worthy of his hire. 2. All are equal under the law. 3. In commerce, truth is sovereign. 4. Truth is expressed in the form of an affidavit. 5. An unrebutted affidavit stands as truth in commerce. 6. An unrebutted affidavit becomes judgment in commerce. 7. A matter must be expressed to be resolved. 8. He who leaves the field of battle first loses by default. 9. Sacrifice is the measure of credibility. 10. 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.
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Commercial Law Applied
The principles, maxims and precepts of Commercial Law are eternal, unchanging and unchangeable. They are expressed in the Bible, both in the Old Testament and in the New. The law of commerce — unchanged for thousands of years — forms the underlying foundation of all law on this planet; and for governments around the world. It is the law of nations, and of everything that human civilization is built upon.
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