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The Law Merchant

Author

Listed:
  • Benson, B.L.

Abstract

Lex Mercatoria, the Law Merchant, generally refers to the custiomary law governing European commercial interactions during the medieval period. Despite its customary nature, however, the Law Merchant constituted a true system of law in the sense defined by Hart (1961), as there were well known "primary rules of obligation" along with obvious and effective "secondary rules" or institutions to induce recognition of, resolve disputes under, and facilitate change in primary rule.

Suggested Citation

  • Benson, B.L., 1996. "The Law Merchant," Working Papers 1996_09_03, Department of Economics, Florida State University.
  • Handle: RePEc:fsu:wpaper:1996_09_03
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    Cited by:

    1. Yannick Gabuthy, 2004. "Online Dispute Resolution and Bargaining," European Journal of Law and Economics, Springer, vol. 17(3), pages 353-371, May.
    2. Gabuthy, Yannick & Jacquemet, Nicolas & Marchand, Nadège, 2008. "Does resorting to online dispute resolution promote agreements? Experimental evidence," European Economic Review, Elsevier, vol. 52(2), pages 259-282, February.

    More about this item

    Keywords

    LAW ; INTERNATIONAL TRADE;

    JEL classification:

    • K33 - Law and Economics - - Other Substantive Areas of Law - - - International Law
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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