Transnational Commercial Law: Concept Evolution

Domestic scholarship does not contain the concept of ‘transnational commercial law’. On the basis of retrospective analysis of foreign and domestic legal doctrine, it is proposed to define transnational commercial law as a set of principles and rules of private law, taken from any source, which regulate international commercial transactions and are common to legal systems or to a significant number of legal systems. The main emphasis in the definition is on the transnational nature of the norms, rather than on the cross-border characteristics of the relations that such norms are intended to regulate.