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The Culture of International Arbitration and The Evolution of Contract Law$
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Joshua D H Karton

Print publication date: 2013

Print ISBN-13: 9780199658008

Published to Oxford Scholarship Online: May 2013

DOI: 10.1093/acprof:oso/9780199658008.001.0001

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The Future of Contract Law

The Future of Contract Law

(p.235) 8The Future of Contract Law
The Culture of International Arbitration and The Evolution of Contract Law

Joshua Karton

Oxford University Press

This chapter discusses the implications of international commercial arbitration culture for the future of contract law. In particular, it identifies the substantive law doctrines that arbitrators are likely to prefer and predicts the directions in which international commercial law is likely to evolve. Without a sufficient sample of international arbitral decisions on substantive law matters, definitive predictions of how arbitrators will decide such issues are impossible. However, a sociological analysis of international commercial arbitration culture makes possible more accurate predictions than could otherwise be made.

Keywords:   international arbitration, international commercial arbitration, international private law, unification of law, harmonization of law, rules of law, lex mercatoria, arbitral decision-making, trade usages, business custom, socio-legal approaches, grounded theory

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