Lex Mercatoria Law and Legal Definition
In addition, lex mercatoria also extends to certain international conventions and even national laws pertaining to international economic relations. International commercial arbitration is frequently cited as a field in which the modern lex mercatoria is operative.
In The CHAMPION, 1874 U.S. Dist. LEXIS 134 ( E.D. Mich. 1874), it was held that lex mercatoria is a part of the common law, unless it be altered or controlled by parliament or the municipal courts.