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Books > Law > Laws of other jurisdictions & general law > Financial, taxation, commercial, industrial law > Commercial law
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The Culture of International Arbitration and The Evolution of Contract Law (Hardcover, New)
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The Culture of International Arbitration and The Evolution of Contract Law (Hardcover, New)
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This study proposes a theory of international arbitration culture,
tests this theory against real-world outcomes, and uses it to make
predictions about the contract law principles that international
arbitrators are likely to favour. Drawing on interviews with
prestigious practitioners from a range of jurisdictions, as well as
published arbitral awards, the writings of international
arbitrators, and available statistical data on international
arbitration, it presents a comparative analysis of arbitral and
judicial responses to contract law issues. Part I develops a theory
of arbitral decision-making as influenced by a legal culture
specific to the international commercial arbitration community. It
identifies the specific social norms that make up that culture and
considers how these norms might affect arbitrators decision-making
on matters of substantive contract law. Part II tests the
explanatory power of the theory developed in Part I by applying it
to published decisions of international commercial arbitrators on
two discrete areas of contract law: suspension of performance in
response to non-performance and the interpretation of contracts.
These case studies demonstrate that arbitrators and judges are
likely to take divergent approaches, even when they are applying
the same substantive laws. This divergence is explicable on the
basis of international arbitrations unique culture. Finally, the
cultural theory of international arbitral decision-making is
applied to make predictions about the ways that contract law is
likely to evolve through the decisions of international
arbitrators.
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