Opening the window on Lex Mercatoria:from Medieval Times to the Future

Authors Organisations
Type

Student thesis: Master's ThesisMaster of Economics and Social Studies

Original languageEnglish
Awarding Institution
Supervisors/Advisors
  • Konstantina Sampani
Award date2017
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Abstract

This thesis examines the application of the Lex Mercatoria (LM) as an applicable law in contemporary commercial practice in order to analyse the practicality and awareness of the global commercial law within arbitration. The crucial questions asked are how and to what extent the LM can be used in everyday legal practice during arbitral proceedings. The LM is acknowledged as a global commercial law and establishes its fundamental features in the global political economy, demonstrating the future direction of the global commercial law. The LM
as a trade regulator has an essential role to manifest the differences in origin between global issues and local issues and has prompted a requirement for a legal framework of global issues. In order to assess the real picture of worldwide society, the role and significance of the LM is identified as legal and sociological dimensions. Reflecting that the nature of authority has changed within generations and with the enforcement of commercial norms, the LM is analysed
in this thesis firstly within a historical context, mapping the evolution of the LM from medieval times to the present day and is followed with an analysis of trade in the society. To anticipate the future status of the LM is essential in order to locate and specify the structure and the nature of authority in the political economy.