As world trade expands to the remotest of venues, commercial laws that encompass transnational jurisdictions become increasingly important. The appropriateness of these laws rely, inter alia, on the strength of the assumptive base supporting such transnational laws of commerce. As this article explains, transnational contract law'is not the product of the Immaculate Conception; it is the anachronistic progeny of certain European laws that emerged during the Industrial Revolution. As such, transnational contract law inherits many of the characteristics of its progenitors. Those characteristics, however, become awkward when viewed through a contemporary institutional context that diverges from the prevailing social arrangements of the Industrial Revolution.
Browne, M. Neil and Coon, Jennifer, "Impact of Market Ideology on Transnational Contract Law" (2008). Economics Faculty Publications. 2.
Loyola of Los Angeles International and Comparative Law Review