The Lex Mercatoria in Theory and Practice

Hardcover | February 19, 2017

byOrsolya Toth

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The book offers a theoretically justified and pragmatic concept of the so-called "lex mercatoria" contributing to the debate concerning the existence of this law as an autonomous, a-national and universal legal system established by trade practice.This new work equips commercial arbitrators and counsel with a formula to "recognise" and apply a rule of the lex mercatoria in practice. It argues that a rule of the lex mercatoria is established if there is a majority congruent behaviour within the business community followed out of fear ofcriticism and a willingness to criticise others in case of deviation. This two element test increases legal certainty and potentially reduces the time and costs of proving the rule.Case studies are included to illustrate the practical implications of the analysis and more difficult issues such as burden of proof, admissible evidence and the role of written harmonisation measures are also considered. The approach adopted in the book reduces the elusiveness of the concept andoffers an analysis which makes the lex mercatoria clearer for scholars and more attractive for practitioners.

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The book offers a theoretically justified and pragmatic concept of the so-called "lex mercatoria" contributing to the debate concerning the existence of this law as an autonomous, a-national and universal legal system established by trade practice.This new work equips commercial arbitrators and counsel with a formula to "recognise" and...

Dr Orsolya Toth has formerly been an Associate in the International Arbitration Group at Allen and Overy. She was educated at Keble College, Oxford where she obtained her DPhil, MPhil and MJur degrees. She was awarded the Allen and Overy Prize for best performance in Transnational Commercial Law during the BCL/MJur examinations at Oxf...
Format:HardcoverDimensions:320 pages, 9.69 × 6.73 × 0.1 inPublished:February 19, 2017Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:019968572X

ISBN - 13:9780199685721

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Table of Contents

1. The Debate as it currently stands2. The existing accounts of the Lex Mercatoria3. Framework for an Analytical Account - Clarifying Termin.4. Framework for an Analytical Account - The Autonomous Status5. Opening the Debate to Public International Law6. Opening the Debate to Jurisprudence7. The Lex Mercatoria as a Legal System8. The Lex Mercatoria before an Arbitrator9. Conclusion