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Lex mercatoria
''Lex mercatoria'' (from the Latin for "merchant law"), often referred to as "the Law Merchant" in English, is the body of commercial law used by merchants throughout Europe during the medieval period. It evolved similar to English common law as a system of custom and best practice, which was enforced through a system of merchant courts along the main trade routes. It functioned as the international law of commerce.〔Sealy and Hooley (2008) 14〕 It emphasised contractual freedom and alienability of property, while shunning legal technicalities and deciding cases ''ex aequo et bono''. A distinct feature was the reliance by merchants on a legal system developed and administered by them. States or local authorities seldom interfered, and did not interfere a lot in internal domestic trade. Under ''lex mercatoria'' trade flourished and states took in large amounts of taxation.
==History==
The ''lex mercatoria'' was originally a body of rules and principles laid down by merchants to regulate their dealings. It consisted of rules and customs common to merchants and traders in Europe, with some local variation. It originated from the need for quick and effective jurisdiction, administered by specialised courts. The guiding spirit of the merchant law was that it ought to derive from commercial practice, respond to the needs of the merchants, and be comprehensible and acceptable to the merchants who submitted to it. International commercial law today owes some of its fundamental principles to the ''lex mercatoria''. This includes choice of arbitration institutions, procedures, applicable law and arbitrators, and the goal to reflect customs, usage and good practice among the parties.
Goods and services flowed freely during the medieval merchant law, thus generating more wealth for all involved. It is debated whether the law was uniform in nature, was spontaneous as a method of dispute resolution, or applied equally to everyone who subordinated to it. The ''lex mercatoria'' was also a means for local communities to protect their own markets. Local kings or lords extracted taxes and set trade restrictions.
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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