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congress and commercial law



I would agree that Congress generally has no power to regulate commercial law.
Commercial law basically governs private transactions between private
individuals or corporations that do not directly affect the interstate public.
If Congress doesn't have the right to regulate it, then it is left to state's
to regulate it if they so choose.  Federal courts are bound to state law's
regarding commercial activity, and even in the absence of a statute, are bound
to state common law regarding commercial dealings.