the eventual reemergence of the Law Merchant as a primary force in
core, market forces created and sustained the Law Merchant.
The medieval Law Merchant was absorbed by the common law during the rise of the modern state.
The Law Merchant was a tool of unified commercial discourse that transcended the hotchpotch of different local systems of law that traders would encounter, such as ecclesiastical, manorial, and civil.
Or they may choose to have customary law, as it has evolved and developed under the modern law merchant, to govern their contracts instead.
1990) "The Role of Institutions in the Revival of Trade: The Law Merchant, Private Judges, and the Champagne Fairs.
The law merchant, or lex mercatoria, was a system of mercantile
instance, considered the law merchant to be a part of the law of
The position is different, however, in cities and fairs' and among merchants, in whose favour, by grace of the prince, it is granted that proof shall be the privilege of the party asserting the claim, in accordance with the law merchant
, and merchants are permitted to prove, by witnesses and by a jury, tallies that are repudiated.
16) Gerard Malynes, Consuetudo vel Lex Mercatoria, or the Ancient Law Merchant
(London, 1622), from the Preface, "To the Courteous Reader.
Hall, Hubert, ed, (1930), Select Cases Concerning the Law Merchant
At its beginning the Law Merchant
was a purely informal body of law.