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Lex mercatoria (from Latin for "merchant law"), often referred to as "the Law Merchant" in English, is the body of commercial law used by merchants throughout Europe[disputed – discuss] during the medieval period. It evolved similar to English common law as a system of custom and best practice, which was enforced through a system of merchant courts along the main trade routes. It developed into an integrated body of law that was voluntarily produced, adjudicated and enforced on a voluntary basis[citation needed], alleviating the friction stemming from the diverse backgrounds and local traditions of the participants. Due to the international background local state law was not always applicable and the merchant law provided a leveled framework to conduct transactions reducing the preliminary of a trusted second party.[1][full citation needed] It emphasized contractual freedom and inalienability of property, while shunning legal technicalities[clarification needed] and deciding cases ex aequo et bono.[citation needed] With lex mercatoria professional merchants revitalized the almost nonexistent commercial activities in Europe, which had plummeted after the fall of the Roman Empire.[2]
In the last years [when?] new theories had changed the understanding of this medieval treatise considering it as proposal for legal reform or a document used for instructional purposes[citation needed]. These theories consider that the treatise cannot be described as a body of laws applicable in its time, but the desire of a legal scholar to improve and facilitate the litigation between merchants. The text[clarification needed] is composed by 21 sections and an annex. The sections described procedural matters such as the presence of witnesses and the relation between this body of law and common law. It has been considered as a false statement to define this as a system exclusively based in custom, when there are structures and elements from the existent legal system, such as Ordinances and even concepts proper of the Romano-canonical procedure.[3][page needed] Other scholars have characterized the law merchant as a myth and a seventeenth-century construct.[4]
^Sealy and Hooley (2008) 14
^Johnson, David R.; Post, David (May 1996). "Law and Borders: The Rise of Law in Cyberspace". Stanford Law Review. 48 (5): 1367. doi:10.2307/1229390. JSTOR 1229390.
^Basil, Bestor, Coquillette and Donahue (1998). Lex Mercatoria and Legal Pluralism: A Late Thirteenth Century Treatise and Its Afterlife. Ames Foundation.{{cite book}}: CS1 maint: multiple names: authors list (link)
^Kadens, Emily (Winter 2015). "The Medieval Law Merchant: The Tyranny of a Construct". Journal of Legal Analysis. 7 (2): 251–289. doi:10.1093/jla/lav004.
Lexmercatoria (from Latin for "merchant law"), often referred to as "the Law Merchant" in English, is the body of commercial law used by merchants throughout...
relations in international trade. lexmercatoria – "the law for merchants on land". Alok Narayan defines "lexmercatoria" as "any law relating to businesses"...
like the Unidroit Principles or the CISG, also part of the LexMercatoria. Whether LexMercatoria is subject to choice of law by the parties, is, however...
calls Lex its agenda-setting column. The column first appeared on Monday, 1 October 1945. The name may originally have stood for LexMercatoria, a Latin...
of English contract law traces back to its roots in civil law, the lexmercatoria and the industrial revolution. Modern English contract law is composed...
be international if elements of more than one country are involved. Lexmercatoria refers to that part of international commercial law which is unwritten...
land routes and largely self-regulated through the development of the Lexmercatoria ("merchant law"), became an important engine in the reviving economic...
Lex petrolea is a proposed sub branch of lexmercatoria that would be based on the body of international arbitral awards related to the petroleum industry...
that caveat emptor never had any place in Roman law, civil law, or lexmercatoria and was probably a mistake when implemented into the common law. Rather...
came to call "Sterling", and standard rules for commerce that formed a LexMercatoria, the laws of the merchants. Merchant custom was most influential in...
to make Trade floushish, lately Published. (1622). Consuetudo, vel, LexMercatoria: or, The Law Merchant: Divided into three parts, according to the Essential...
1, automne 1994) "Is the Exceptio non adimpleti contractus part of LexMercatoria?" Co-author with Philip D. O'Neill, Jr. in Emmanuel Gaillard (ed.),...
15 June 2017. Berger, Klaus Peter. "The LexMercatoria (Old and New) and the TransLex-Principles". www.trans-lex.org (in German). Retrieved 21 October 2021...
lawyer History of companies History of company law in the United Kingdom Lexmercatoria Types of business entity Juristic person Company (law) Corporate law...
This highlights a long history of incorporating and accounting for the lexmercatoria into the English law in order to facilitate financial markets. Law merchant...
Edward Coke wrote confidently that international commercial law, or the lexmercatoria, is part of the laws of the realm. The constitutional crises of the...
Maktabi, 336 Beawes, Wyndham; Savary des Brusions, Jacques (1773). Lexmercatoria redivida. James Williams. p. 644. Smith, John (1747). Chronicon rusticum-commerciale...
pertain. In continental Europe, competition principles developed in lexmercatoria. Examples of legislation enshrining competition principles include the...
1999, p. 191 Klaus Peter Berger, The Creeping Codification of the New LexMercatoria, Kluwer Law International, 2010, p. 132 Alan Rogers Central Europe 2007...
reading for UCC 2-713. Breach of contract Trans-lex.org, The LexMercatoria (Old and New) and the TransLex Principles: Principle VI.5, accessed 2 January...
Peter Berger (1 January 2010). The Creeping Codification of the New LexMercatoria. Kluwer Law International B.V. pp. 132–. ISBN 978-90-411-3179-9. Radu...
governed ecclesiastical institutions and clergy throughout Europe; the lexmercatoria ("merchant law"), which concerned trade and commerce; and various codes...
by Christopher St. Germain. Provinciale (1430) by William Lyndwood LexMercatoria (1622) by Gerard de Malynes O. Hood Phillips, A First Book of English...
Edward Coke wrote confidently that international commercial law, or the lexmercatoria, is part of the laws of the realm, while the constitutional crises of...
based on case law. As nationalism grew in the 18th and 19th centuries, lexmercatoria was incorporated into countries' local law under new civil codes. Of...
legally binding agreements in England and Wales. With its roots in the lexmercatoria and the activism of the judiciary during the Industrial Revolution,...
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