Document Type : Original Article
Authors
1 Department of Law, Kho.C., Islamic Azad University, Khomeinishahr, Iran
2 Department of Law, Na.C., Islamic Azad University, Najafabad, Iran.
3 Department of law, Farahan branch,Islamic azad university Farahan, Iran
Abstract
Specialized communities in various fields of law, particularly those concerned with the rights of merchants, have long demonstrated a tendency to create legal rules that extend beyond the legislative authority of national governments. This phenomenon arises from the inherent power of international markets, which, in practice, have proven capable of generating legal norms without the need for intervention by state legislatures. In this context, "Lex Mercatoria"—a legal system operating outside traditional governmental frameworks—has emerged and evolved under the influence of international markets, "Lex Mercatoria" can be characterized as a "market-oriented" legal system. it possesses the flexibility and adaptability required to respond to the dynamic and ever-changing conditions of global commerce. Addressing the central research question of how international markets and "Lex Mercatoria" have mutually influenced each other—both in the creation and evolution of "Lex Mercatoria" and in meeting the demands of international markets—this study employs a library-based research methodology supplemented by a questionnaire tool. By examining the historical development of "Lex Mercatoria" and analyzing the pivotal role of international markets in creating the economic conditions necessary for its growth, the authors assess the suitability of "Lex Mercatoria" for the transnational nature of international markets. The findings indicate that "Lex Mercatoria", as an example of soft law, has successfully developed and adapted to the unique conditions of international markets. It has done so by evolving within specialized branches of law, often centered around specific industries, maintaining a reciprocal relationship with the distinctive demands and circumstances of global markets.
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