HISTORIJSKI RAZVOJ MEĐUNARODNOG TRGOVAČKOG PRAVA
HISTORICAL DEVELOPMENT OF INTERNATIONAL COMMERCIAL LAW

Summary/Abstract: he paper presents historical development of the International commercial law, which has gone through three phases in its development. The first phase is the medieval lex mercatoria, a corpus of international usages and practices that governed the cosmopolitan community of merchants who traveled throughout the civilized world. In the second phase, due to the strengthening of the nation state, the lex mercatoria is incorporated into domestic commercial codes, when it loses its international character, and becomes an instrument of economic policy of each of the individual state. Due to the differences between laws that have arisen in this process, and globalization and increased economic activity, there was a demand for creation of instruments at the international level that will apply only to international commercial transactions, because domestic commercial codes and the system of private international law that should respond to the problems of conflict of laws could not meet the needs of international trade in the modern world. Such a return to the international character of commercial law applicable to transactions with an international element represents the third stage in its development.

• Details
• Contents