The growth in international trade in the late twentieth and early twenty first century combined with rapid developments in technology generated rapid and continuous developments in trade practices and market regulations. We may anticipate that this market and regulatory instability will continue into the future. Giving the fact that law is rigid, it is plausible that the doctrines of National laws refer to trade usage as a source regulating many issues in commercial matters. Some variation of trade usage may be important as an express term of a contract, as an interpretative tool when construing a contract, or as the source of guidance on the standards to be applied to a banker’s actions or office systems. As the norm of trade usage serves the freedom of market developments and generally holds the expectations of the actors, it is regarded as one of the cornerstones in both commercial law under legal orders and transnational commercial law. The procedural rules of legal orders rely on expert evidence to prove the concurrent trade usage in commercial litigations.1 The paper calls for an empirical study to clarify the status of trade usages not only to determine the relevant trade usage prior to the proof of the usage by expert evidence in litigations, but also to evaluate the efficiency of the legal procedures which provide the rules of how to prove a trade usage by expert evidence.
|Title of host publication||Proceedings of the Annual Conference of Socio Legal Study Association (SLSA)|
|Publication status||Published - 10 Apr 2014|