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 | | The other is that the lex provides, so to speak, a repertoire of rules available to those parties who, expressly or by implication, choose to incorporate them into their dealings, and who, by the same token, choose to detach their contracts from the national law to which they would otherwise be subject. |
 | | One view is that the lex is a constant presence, applicable or not according to the circumstances of the individual transaction. |
 | | But if the lex mercatoria is to assume the role in a world which its proponents claim for it, there must be a clear consensus about what the label actually means; for otherwise there will be a risk of that inconsistency and uncertainty which is fatal to the efficient conduct of commerce. |
| tldb.uni-koeln.de /php/pub_show_document.php?pubdocid=126900 (12661 words) |
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