________ outlines the historical laws and the procedures that were followed by merchants in commercial transactions.

Question

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Lex mercatoria, also known as "the law of merchants," was an informal legal system that developed in medieval Europe to regulate commerce between merchants from different countries. It was based on the customary practices and principles followed by merchants in commercial transactions, and was not tied to any specific country's legal system. Lex mercatoria outlined historical laws and procedures that were followed by merchants, such as rules governing the formation and performance of contracts, dispute resolution mechanisms, and the recognition and enforcement of judgments.

________ Outlines the Historical Laws and the Procedures That Were