Lex mercatoria

Also found in: Dictionary, Thesaurus, Encyclopedia, Wikipedia.

LEX MERCATORIA. That system of laws which is adopted by all commercial nations, and which, therefore, constitutes a part of the law of the land. Vide Law Merchant.

References in periodicals archive ?
Another example of lex mercatoria in operation, also developed by the ICC, is the Uniform Customs and Practices for Documentary Credits (UCP), which are used in banking and trade finance for handling international letters of credit in more than 175 countries.
convergence, however contingent, that a lex mercatoria could never have
Goldman, La lex mercatoria dans les contrats et l'arbitrage internationaux (Paris: Clunet, 1979).
By the 1980's, most international arbitration lawyers, or at least international arbitration practitioners, tended to take the view that the debates about lex mercatoria and state contracts in particular were mainly of academic or historical interest and, as such, of limited practical relevance.
This is, after all, what the long history of the lex mercatoria has borne witness to thus far.
Similar statements can be found in almost every work about the modern lex mercatoria.
Other awards refuse to apply the lex mercatoria absent agreement of the parties.
Carbone, "Il contributo della lex mercatoria alla precisazione della lex sportiva", in Diritto internazionale dello sport, a cura di E.
This analogy with the Lex Mercatoria allows sports law to develop distinctiveness and an incremental formation.
Sports law has developed and consolidated along the years, particularly through the arbitral settlement of disputes, a set of unwritten legal principles - a sort of lex mercatoria for sports or, so to speak, a lex ludica - to which national and international sports federations must conform, regardless of the presence of such principles within their own statutes and regulations or within any applicable national law, provided that they do not conflict with any national 'public policy' (ordre public) provision applicable to a given case.
Observation of the contractual practices of private operators from international commerce and analysis of commercial arbitration case law in this field have led certain authors to propose the theory of a new lex mercatoria (34) or New Law Merchant (35) - in reference to the lex mercatoria of the Middle Ages, developed by market traders as a remedy for the legal insecurity arising from the multiplicity of feudal laws.