| 520 |
|
|
|b The Research explores the evolving trend of the Commercial Law which appeared as a National Law aiming to regulate domestic relationships, but had to face the continuous extend of the International Trade Relations and its legal sources of rules, especially those international, whether be mandatory or not mandatory. In view of emphasizing the different phases through which the Commercial Law is going, the Research distinguishes two main phases: the first starts with the European colonialism till the establishment of the World Trade Organization, whereas the second phase starts with the established of the Organization mentioned above and is still running nowadays. That first phase was in fact divided into two periods; in the first period, the process of unifying the rules governing topics of international trade started, but through the traditional tools of International Public Law, namely the signature of international conventions; the maritime and air carriages are the most important examples of such process. The alternative was to elaborate non-compulsory rules, where the states or the contracting parties were invited to adopt these rules, whether as laws or contractual terms, like the Geneva Rules governing the Commercial Papers for instance. The second period of the first phase started with the end of World War II, where the first Institutions of the Word Economy were established, namely the World Bank and the International Monetary Fund, and where the most develop countries started to regulate International Trade through the so-called GATT Agreements. The second phase of evolution of the Commercial Law starts with the establishment of the World Trade Organization, by which International Commerce takes benefit of a structure in view of regulating its expansion over the entire World. The International Organization’s mission is to liberate International Commerce from any obstacle that National States could implement or adopt. This comes in parallel with the obligation of all members to modify their laws in view of a full compliance with all rules agreed upon within the frame of the WTO. The second major impact is that the notions and concepts of Common Law supersede every new regulation of international commerce, and this regardless of the legal system adopted by any of the members of the WTO. The Research concludes with saying that the trend of unifying the rules governing all activities of International Trade is now amplified, and goes forward whereby the preponderance of the Common law.
|
