The 'Best Practices' Approach to the Uniformity of International Commercial Law: the UCP 500 and the NAFTA Implementation Experience
Roy Goode is a scholar's scholar and a gentleman's gentleman. Rarely have devotion to truth, learning, and humaneness blended so well and so wittily. I consider myself fortunate to be his friend and for having shared common research interests for approximately three decades. In 1989, we discussed his justly famous study on formal abstract promises.1 He and Eric Bergsten had just finished another pathbreaking study on electronic commerce2 in which he found that despite their economic significance, many of these transactions lacked legislative, administrative, or judicial approval. He asked me whether I agreed with him that it was custom that made these trade association transactions binding. I did and suggested that it was still unclear to me why some trade association and national customs had become internationally binding while others had not. I told him that my comparative study on fairness in commercial adjudication suggested an explanation: only those customs that embodied, as a minimum, what I had described as a market-place standard of fairness could become internationally accepted.3 Market-place fairness required that each party to a transaction treat the other as any regular participant in that transaction in the market in question would want to be treated when viewing his own advantage.4____________________
Questia, a part of Gale, Cengage Learning. www.questia.com
Publication information: Book title: Making Commercial Law:Essays in Honour of Roy Goode. Contributors: Ross Cranston - Editor, Royston Miles Goode - Author. Publisher: Oxford University. Place of publication: Oxford. Publication year: 1997. Page number: 357.