There has been a considerable number of changes in the law since the first edition was published in 1994. The new edition encompasses all the topics taught on commercial law courses, as a whole, rather than as separate elements. It emphasises a practical application of the law, relating subjects through fundamental principles and concepts such as ownership, possession, attornment, notice and good faith. It providea a source of reference for law students and has been updated to include: Enactment of the Sale of Goods (Amendment) Act 1994, Sale and Supply of Goods Act 1994 and Sale of Goods (Amendment) Act 1995; Unfair Terms in Consumer Contracts Regulations 1995; Arbitration Act 1996; Deregulation (Bills of Exchange) Order 1996; the introduction of the UNIDROIT Principles for International Commerce Contracts (1994); and a new version of the ICC's Uniform Rules for Collections (1996). The third edition of the Code of Banking Practice (July 1997) is also taken into account and important case law on sale of goods is also included.