Zahra Mahmoodi Kordi; Mehdi Zahedi; Seyyedeh Atefeh Ghadirinezhad
Abstract
With expansion of transactional commercial arbitrations in the 20th century, the Theory of ‘Transactional Commercial Law’ presented by lawyers such as Gladman and Schmitthoff. This theory was based on the claim that there is a third Legal system along with public international law system ...
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With expansion of transactional commercial arbitrations in the 20th century, the Theory of ‘Transactional Commercial Law’ presented by lawyers such as Gladman and Schmitthoff. This theory was based on the claim that there is a third Legal system along with public international law system and national law system in order to adjust transnational commercial relations. There is no consensus in legal doctrine about the sense, nature and other issues about transnational commercial law and there are ambiguities in studying it. Considering the history of transnational commercial rules, some authors consider this new legal system equivalent to Lex Mercatoria whereas Lex Mercatoria has never had a fixed sense and has developed over time. This article is a desk research and descriptive-analytical research. It studies and assesses the evolution process of Lex Mercatoria and also clarifies the relationship between Lex Mercatoria and Transnational Commercial Law and finally, this study concludes that it is not possible to define pure Lex Mercatoria, i.e without specifying characteristic such as classical, modern, and post-modern, as the synonym of pure Transnational Commercial Law (including broadest sense and Proper sense).
reza hazeghpor; Hamid Reza Oloumi Yazdi
Abstract
lex mercatoria is a set of customary commercial rules which has been common by merchant among them in order to meet their commercial needs. along with developments in commercial relations and also in dispute settlement mechanisms by arbitrations, the status and nature of these set of rule as autonomous ...
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lex mercatoria is a set of customary commercial rules which has been common by merchant among them in order to meet their commercial needs. along with developments in commercial relations and also in dispute settlement mechanisms by arbitrations, the status and nature of these set of rule as autonomous free from domestic and international law has been one of the most important issue of international commercial law. the advantages of using this rules in arbitration and also their concordance with today demands of commercial relation has been the most important reason of invoking lex mercatoria in international arbitration as substantive law governing the dispute. so many judicial decisions issued on the base of lex mercatoria. but at the same time, this question of whether these rules are truly autonomous is under disagreement. so in this study we aim to analyze the debatable nature of lex mercatoria and clarify its legal status in international commercial arbitration.
