The second gathering of “Tuesdays with TRAC” titled “Lex Mercatoria in Commercial Arbitration“ was held at Tehran Regional Arbitration Centre (TRAC), on January 14, 2020, with participation of Dr. Farhad Iranpour, attorney at law and associate professor at Department of Private Law, Faculty of Law and Political Science, University of Tehran, along with a number of practitioners, and students.
Ms. Adineh Abghari, a member of the arbitration board of the Centre, addressed the opening remarks on introducing the topic, and invited the participants to attend the discussion and exchange the views.
Dr. Iranpour while outlined the topic, stated that in addition to the domestic legal system and the international legal system, we are facing with a third system today called the Lex Mercatoria, which encompasses international commercial practices and common principles of law. He also delivered a description of what Lex Mercatoria is, its historical background, and its relevant elements that might apply in disputes. During the discussion and in response to some questions, he briefly analyzed the method of understanding and reasoning in disputes within the scope of domestic legal system.
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