First Theme: Historical Development of Commercial Law To say that commercial law is a newly established law does not mean that it is modern in its rules and systems, but rather that it has deep historical roots.evolving in tandem with transactions and practical necessities, , like other branches of law, commercial law has passed through various historical stages .starting from antiquity and progressing through the middle ages to he modern era.This influx decreased the value of European goods, prompting an expansion in banking operations and government borrowing to finance operations.Consequently, governmental roles expanded beyond defense and security to encompass commercial regulation, marking the transition to the current state-centric approach to law, wherein international trade rules lost their distinctiveness..