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The Lex Mercatoria in Theory and Practice

The Lex Mercatoria in Theory and Practice

Author: Orsolya Toth
Publisher: Oxford University Press
ISBN: 9780199685721
Published In: January 2017
Format: Hardback , 368 pages
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents
Author

Details
- The most comprehensive analysis of this legal system
- Provides a formula to 'recognise' and apply a rule of the lex mercatoria in practice
- Uniquely connects the fields of the lex mercatoria, public international law and jurisprudence
- Includes case studies to illustrate how the rules may be applied in practice
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 of criticism 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 and offers an analysis which makes the lex mercatoria clearer for scholars and more attractive for practitioners.

Readership: Scholars and practitioners interested in commercial law and arbitration, arbitrators and judges
1: The Debate as it currently stands
2: The existing accounts of the Lex Mercatoria
3: Framework for an Analytical Account - Clarifying Termin.
4: Framework for an Analytical Account - The Autonomous Status
5: Opening the Debate to Public International Law
6: Opening the Debate to Jurisprudence
7: The Lex Mercatoria as a Legal System
8: The Lex Mercatoria before an Arbitrator
9: Conclusion
Dr Orsolya Toth has formerly been an Associate in the International Arbitration Group at Allen & Overy. She was educated at Keble College, Oxford where she obtained her DPhil, MPhil and MJur degrees. She was awarded the Allen & Overy Prize for best performance in Transnational Commercial Law during the BCL/MJur examinations at Oxford. She has acted as counsel on numerous commercial and investment treaty arbitrations in a range of industry sectors. Dr Toth is the author of several articles in the field of legal harmonisation and arbitration.