The Applicable Law to International Commercial Contracts and the Status of Lex Mercatoria - With a Special Emphasis on Choice of Law Rules in the European Community

Author: Mert Elcin

Publisher: Universal-Publishers

ISBN: 1599423030

Category: Law

Page: 90

View: 4049

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International commercial contracts in the context of increasing globalization of the national markets have posed some of the most difficult questions of the legal theory as developed since the emergence of nation states; those are, whether it is possible or desirable to allow international commercial contracts to be governed by the law merchant or, in its medieval name, lex mercatoria, a body of rules which has not been derived from the will of sovereign states, but mainly from transnational trade usages and practices, and to what extent those rules should govern transnational transactions. The traditional approach of legal positivism to the questions maintains that law governing contracts containing a foreign element should be a national law which will be determined according to choice of law rules. However, the particularities of cross border trade yield unsatisfactory results when the rules essentially designed for the settlement of domestic disputes or national laws pertaining to international economic relations, but developed under the influence of a certain legal tradition, are tried to be applied. New solutions are needed to overcome the special problems of international trade between merchants from different legal systems. In that regard, while the international commercial arbitration which has been freed from the constraints of the domestic laws is an important step, the courts generally applying the principle of party autonomy which allows parties to designate the law that will apply to their transactions have proved insufficient due to the positivistic influence on the conflict of laws rules of most countries which has limited parties' choice of law to the national substantive laws. The problems created by those inconsistencies and divergences have been felt more strongly in the European Community which constitutes an internal market by integrating the national markets of Member States into a single one. The present paper is an attempt to search for answers to those questions with a special emphasis on the situation in the European Community on the basis of the idea that law as a servant of social need must take account of the far reaching and dramatic socio-economic changes.
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Globalization of contractual law

a brazilian perspective

Author: Frederico Eduardo Zenedin Glitz

Publisher: Frederico Glitz

ISBN: 8591689925

Category: Law

Page: 410

View: 7601

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This book adopts the proposition that it is possible to the customs to be sources of contractual obligations. To support that premise, it was necessary to seek jurisprudential (arbitration and litigation) and comparative basis. Even more, due to contract law internationalization, customary international sources should be subject of domestic treatment, as they provide contractual obligations as well as they work as contractual interpretation tool. However, one can´t neglect the need to control the customary content. In detailed terms, then, we can say that the role reserved for the custom as contractual law rules source has always been residual in Brazilian law. Accompanying the modern European experience, doctrine and Brazilian legislation emphasize the secondary, when not merely interpretive, role of the contractual custom. In turn, Brazilian case law wasn´t able to give general treatment to contractual custom. Moreover, the process of reducing distances and cultural, social and economic approximation, usually called globalization, influenced the contracts through the incorporation of a number of solutions brought from the international trade practice. Although they might be justified by the age-old principle of freedom, somehow these international "uses" insinuate themselves into Brazil to the point of requiring that the Brazilian Courts themselves to give them treatment and shelter. On one side, if you deny the existence of a creative normative role in contractual custom by another, albeit indirect, is recognized not only their existence but the possibility of foreign origin. This paradoxical treatment reflects, to some extent, another consequence: the Brazilian contract law is in the process of internationalization. Here, then, a new confrontation is announced: a broad creative freedom (a tributary of the so-called Lex mercatoria) and the foreign act incorporation control (public policy). Unlike before, however, no simplistic answer would be feasible, particularly because of the complexity of contemporary and regulatory Brazilian contract law.
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The Creeping Codification of the New Lex Mercatoria

Author: Klaus Peter Berger

Publisher: Kluwer Law International B.V.

ISBN: 9041131795

Category: Law

Page: 422

View: 5496

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Advanced notion of the Creeping Codification which is based on the 'TransLex Principles', operated by the Center for Transnational Law (CENTRAL) of Cologne University at www.trans-lex.org. The Trans- Lex Principles are based on the 'List of Principles, Rules and Standards of the Lex Mercatoria' which was reproduced in the Annex of the first edition of this book. This Internet-based codification method realized through the TransLex Principles corresponds to the unique character of the Creeping Codification of the New Lex Mercatoria which is an ongoing, spontaneous, and dynamic process which is never completed.
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International Commercial Contracts

Applicable Sources and Enforceability

Author: Giuditta Cordero-Moss

Publisher: Cambridge University Press

ISBN: 110702918X

Category: Law

Page: 346

View: 2777

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The book verifies the impact of national law and transnational rules on international contracts, particularly those with an arbitration clause.
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Applicable Law in Investor-State Arbitration

The Interplay Between National and International Law

Author: Hege Elisabeth Kjos

Publisher: OUP Oxford

ISBN: 0191641154

Category: Law

Page: 344

View: 3853

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This is an open access title available under the terms of a CC BY-NC-ND 3.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. This book examines the law, national and/or international, that arbitral tribunals apply on the merits to settle disputes between foreign investors and host states. In light of the freedom that the disputing parties and the arbitrators have when designating the applicable law, and because of the hybrid nature of legal relationship between investors and states, there is significant interplay between the national and the international legal order in investor-state arbitration. The book contains a comprehensive analysis of the relevant jurisprudence, legal instruments, and scholarship surrounding arbitral practice with respect to the application of national law and international law. It investigates the awards in which tribunals referred to consistency between the legal orders, and suggests alternatives to the traditional doctrines of monism and dualism to explain the relationship between the national and the international legal order. The book also addresses the territorialized or internationalized nature of the tribunals; relevant choice-of-law rules and methodologies; and the scope of the arbitration agreement, including the possibility of host states presenting counterclaims in investment treaty arbitration. Ultimately, it argues that in investor-state arbitration, national and international law do not only coexist but may be applied simultaneously; they are also interdependent, each complementing and informing the other both indirectly and directly for a larger common good: enforcement of rights and obligations regardless of their national or international origin.
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The Forces of Economic Globalization

Challenges to the Regime of International Commercial Arbitration

Author: Katherine Lynch,Katherine L. Lynch

Publisher: Kluwer Law International B.V.

ISBN: 9041119949

Category: Law

Page: 466

View: 758

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Increased economic interdependencies and trade flows between states, innovations in information technology and computer networks, a global shift toward market economies and regional and multilateral trade arrangements, have all led to an increasingly globalized world economy. The Forces of Economic Globalization: Challenges to the Regime of International Commercial Arbitration examines some of the challenges facing the regime of international commercial arbitration in the contemporary global economy. It considers the debates concerning the transformation of the global order and the role of nation states within the context of international commercial arbitration. Issues discussed include the transformative effect of economic globalization, the role of the epistemic community and the increased institutionalization within the international arbitral regime, the nationalization of international commercial arbitration and the denationalization and harmonization trends, the competitive nature of legislative reform, convergence and divergence in the international arbitral process, multilateralism and regionalism, market modernization and transnationalism, globalization and lex mercatoria, and the development of online arbitration schemes in cyberspace. This book seeks to analyze the inner penetration of a form of world polity or transnational order ? comprised of part epistemic community, institutional networks, national laws and multilateral conventions, norms, rules, principles and transnational ideology ? on the traditional notion of state sovereignty within the international arbitral regime. The book will interest practitioners and academics with an interest in international commercial arbitration.
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International Antitrust Litigation

Conflict of Laws and Coordination

Author: Jurgen Basedow,Stephanie Francq,Laurence Idot

Publisher: Bloomsbury Publishing

ISBN: 1847318878

Category: Law

Page: 520

View: 2254

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The decentralisation of competition law enforcement and the stimulation of private damages actions in the European Union go hand in hand with the increasingly international character of antitrust proceedings. As a consequence, there is an ever-growing need for clear and workable rules to co-ordinate cross-border actions, whether they are of a judicial or administrative nature: rules on jurisdiction, applicable law and recognition as well as rules on sharing of evidence, the protection of business secrets and the interplay between administrative and judicial procedures. This book offers an in-depth analysis of these long neglected yet practically most important topics. It is the fruit of a research project funded by the European Commission, which brought together experts from academia, private practice and policy-making from across Europe and the United States. The 16 chapters cover the relevant provisions of the Brussels I and Rome I and II Regulations, the co-operation mechanisms provided for by Regulation 1/2003 and selected issues of US procedural law (such as discovery) that are highly relevant for transatlantic damages actions. Each contribution critically analyses the existing legislative framework and formulates specific proposals to consolidate and enhance cross-border antitrust litigation in Europe and beyond.
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The EU, the WTO and China

Legal Pluralism and International Trade Regulation

Author: Francis G. Snyder

Publisher: Hart Pub Limited

ISBN: N.A

Category: Law

Page: 481

View: 9410

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Snyder's book consists of a series of integrated studies of sites of governance, global legal pluralism and the regulation of international trade.
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An International Restatement of Contract Law

The UNIDROIT Principles of International Commercial Contracts

Author: Michael Joachim Bonell

Publisher: Transnational Pub Incorporated

ISBN: N.A

Category: Law

Page: 572

View: 6136

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The UNIDROIT Principles represent a totally new approach to international trade law. They are the result of years of intensive study by leading experts in the field of contract and international trade law from all the major legal and socio-economic systems of the world. They consist of a Preamble and 119 articles divided into seven chapters (General Provisions; Formation; Validity; Interpretation; Content; Performance; and Non-Performance). The chapter on performance contains a special section on hardship, while the chapter on non-performance deals with such questions as the right to performance, termination, and damages. "An International Restatement of Contact Law" was the first commenatary on the UNIDROIT Principles to be published. It provides an insider's view into the origin, preparation, and basic ideas of the Principles. Moreover, it illustrates the various ways in which the UNIDROIT Principles may be used by the international community, such as legislators, judges, arbitrators, and lawyers. This second, enlarged edition includes four new chapters; two additional foreign language versions of the Principles; as well as 25 recent court decisions and arbitral awards mentioning the Principles.
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