Private Law Theory

Introduction:
Since the 1980s, a growing amount of literature has paid attention to multiple structures of governance that transcend the binding borders of national jurisdictions and international agreements. The underlying thesis of these analyses is that new forms of self-regulation and self-legitimization have arisen in the interplay of international, intergovernmental, and non-governmental organizations, transnational firms, regulating agencies, corporate actors, private associations, and institutional networks. One of these fields is the so-called lex mercatoria or merchant law. By means of sets of guiding principles, rules of law, and optional codifications, the lex mercatoria offers a flexible normative and procedural framework in which private economic agents may autonomously deal with contractual matters in international commercial practices and look for possibilities of harmonization with domestic jurisdictions at the same time …

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Aldo Mascareño and Elina Mereminskaya, The making of world society through private commercial law: the case of the UNIDROIT Principles. Uniform Law Review (2013). doi: 10.1093/ulr/unt019. First published online: August 16, 2013.

First posted 2013-08-17 09:41:14