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The Law: An Engine for Trade
Author(s) -
Irvine Lord
Publication year - 2001
Publication title -
the modern law review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.37
H-Index - 22
eISSN - 1468-2230
pISSN - 0026-7961
DOI - 10.1111/1468-2230.00324
Subject(s) - law , commercial law , process (computing) , english law , point (geometry) , industrial revolution , political science , business , computer science , geometry , mathematics , operating system
The lecture traces the process of commercialisation in English law from its early stages to the present day. Until the mid‐eighteenth century the law was in a process of integration , overcoming a judicial preoccupation with technicalities and procedures to form a body of rules which merchants could trust. From that point on the law has assumed a proactive role as an engine for trade. The nineteenth century is marked by legal facilitation , where new institutions were fashioned as a robust commercial framework for the Industrial Revolution. From the end of that century to the present day business law has served to regulate , building a sensitive framework for commercial development that balances the needs of commerce with the needs of society as a whole.