Indeed, the medieval Law Merchant
powerfully illustrates the self generative capacity of commercial customary norms.
The law merchant
, or lex mercatoria, was a system of mercantile
encompass the law of state-state relations, the law merchant
, and the
See, e.g., Emily Kadens, The Myth of the Customary Law Merchant
, 90 TEX.
(7.) WYNDAM ANSTIS BEWES, THE ROMANCE OF THE LAW MERCHANT
: BEING AN INTRODUCTION TO THE STUDY OF INTERNATIONAL AND COMMERCIAL LAW WITH SOME ACCOUNT OF THE COMMERCE AND FAIRS OF THE MIDDLE AGES 1-2 (Fred B.
", en Current Law and Social Problems, vol.
It also provides a blueprint for the future, as the modern lex mercatoria is presented in the genealogical narratives as either the reincarnation (rebirth) of the ancient law merchant
or as the result of its evolution.
(16) It could also be said that the old law merchant
concerning negotiable instruments was mandatory international custom before it became caught up in the 19th century national codifications, or statutory law in England.
This, it is alleged, was only possible because at that time, traders developed a law merchant
similar to the modern lex mercatoria, whose forerunner it was.
I mention the law merchant
only to prove that law does not require the backing of coercion supplied by government Once this point a proven, the intellectual keystone supporting Peritz's book disappears.
Rogers has a simple objective: to correct the persistent notion that English commercial law finds its origins "in the struggle between the law merchant
and the common law" (p.
Following private international law,(12) I refer to all such norms of business communities as the "new law merchant
."(13) The new law merchant
arises outside of the state's apparatus for making law.