Merchant Law in a Merchant Court: Rethinking the Code's Search for Immanent Business Norms
Year: 1996
Type: book-chapter
Abstract: This chapter draws on a case study of merchant law in a merchant court to reexamine, and, ultimately, to challenge, the fundamental premise of the Uniform Commercial Code&s;s adjudicative philosophy, the idea that courts should seek to discover “immanent business norms” and use them to decide cases. It challenges the idea that courts should seek to discover and apply immanent business norms in deciding cases. The merchant-court system developed by the NGFA provides an unusual opportunity to empirically explore and reevaluate the Code&s;s search for immanent business norms in a context where the concerns of litigation costs and institutional competence that have been the focus of the limited debate about the Code&s;s adjudicative approach are conspicuously absent. It has identified a number of undesirable effects on commercial relationships between merchants created by the Code&s;s search for immanent business norms.
Source: Routledge eBooks
Parent work: The Creation and Interpretation of Commercial Law
Author: Lisa Bernstein
Institutions: University of Oxford, University of Chicago
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W1555093038