Harmonization of international commercial law

This book analyses the process of harmonization of laws from a commercial perspective. We identify the reasons that are fostering this process and seek to explain the ways in which it is developing. The analysis begins by placing the standardization of laws in the current economic and political order. The introductory focus is on the environment that favours the development of legal standards. Chapter 1 considers the transformations that have occurred in the legitimacy of society's values in the era after World War II. Likewise, political governance (as based on the model of the nation state) is questioned at a time when actors operate on an international scale and where economic factors are to be considered globally. The purpose of this brief analysis is to address the impact that economic, social and political changes may have on the harmonization of laws.

Chapter 2 moves onto a more technical legal approach, analysing the legal

vehicles that promote the spread of international standards. Great attention is given

to the role of soft law in international relations. Soft law is seen as a positive process

capable of influencing national legislators and regulating areas that international players are unprepared to subject to more rigid forms of law. Chapter 2 also studies 'soft' foundations of more traditional sources of law such as customary law and treaties. Customary law is analysed as an important vehicle for standardization. The emergence of customs and the acquisition of 'opinio juris' are studied alongside the case law developed by the International Court of Justice. With respect to treaties, the emphasis is more on how treaty-making promotes

legal standards and the impact that reservations and different forms of incorporation into national legal systems may have on the uniform application of treaties. Other vehicles considered in Chapter 2 are the laws that emanate from the

activities of international players other than States. In this respect, both the activities of International Organizations and of transnational corporations are analysed. The entire Chapter 3 is dedicated to the impact of regionalism on the standardization of laws.