International Business Law and Lex Mercatoria

Traditionally, legal problems arising in connection with international business transactions had to be solved by a national law. This view was challenged in post war scholarly writing and transnational practice. It was argued that transnational rules (such as transnational contracts, general conditions, trade usages, general principles, uniform rules, arbitral cases) should be applied instead. Often, these transnational rules are referred to as lex mercatoria. This volume analyzes the different legal approaches to international business problems (including the theory of lex mercatoria) as well as their implications for international practice. As such, the relevance and importance of substantive law and conflict of laws and of national, international and transnational rules are discussed both with regard to their application by national courts and by international commercial arbitrators.

Introduction to International Business Law: Definition, History and Scope of Application. Definition. Historical antecedents of present-day international business law. Scope of application. Conclusions. International Business Law and Conflict of Laws. Criticism regarding the traditional conflict of laws approach. Conflict of laws and national courts. Conflict of laws and arbitration tribunals. International Business Law and Substantive Law. International contracts, standard forms and general conditions. International customs and trade usages. Self-regulatory rules of professional organizations. Examples of international contracts, standard forms, general conditions, custom, usages and self-regulatory rules. Technical, professional and deontological standards and codes of conduct. General principles of law. Arbitral case law. International conventions. Recent Theories on the Sources of International Business Law. The theory of the lex mercatoria. Substantive methods. Comparative methods. National conflict rules and substantive law. Conclusions. General Conclusions. Bibliography. Keyword Index.