This section covers all terminology and concepts relating to law and regulation of the financial sector in an economy. This includes law and regulation for subsectors like insurance, commercial banking, capital markets, derivatives, and investment management. It essentially involves understanding the legal implications of transactions and the effect of structures/ tools/ situations such as force majeure, tarts, indemnity or overdraft associated with financial transactions. By composition, financial law builds on three areas: financial regulation, case law, and market practice. By its own, it constitutes a part of commercial law but only handles those aspects relating to banking and finance in an economy.