Publication Type
Book Chapter
Version
acceptedVersion
Publication Date
1-2023
Abstract
The historical lex mercatoria, or law merchant, is said to have emerged from the customary practices of ancient and medieval seamen and traders who found themselves in need of a common set of rules to govern mercantile trade; rules which would be broadly applicable (and acceptable) to trading parties regardless of their places of origin. To the extent that such a body of legal rules did in fact exist, its significance derived from two main features: (1) its independence (since it was not promulgated by any one decision-maker or legislator, but was drawn from the established practice of the merchant community); and (2) relatedly, its practical utility and credibility (as a set of rules which were created in the marketplace and therefore reflected the actual practices and needs of those subject to it).
Discipline
International Law
Research Areas
Private Law
Publication
Transnational commercial disputes in an age of anti-globalism and pandemic
Editor
Sundaresh Menon & Anselmo Reyes
First Page
269
Last Page
282
ISBN
9781509954971
Identifier
10.5040/9781509955008.ch-010
Publisher
Hart Publishing
City or Country
Oxford
Citation
YEO, Tiong Min.
Developing the Lex Mercatoria. (2023). Transnational commercial disputes in an age of anti-globalism and pandemic. 269-282.
Available at: https://ink.library.smu.edu.sg/sol_research/4094
Copyright Owner and License
Authors
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Additional URL
https://doi.org/10.5040/9781509955008.ch-010