Changes

Since 1960s there have been systematically countless discussions regarding the very nature and the function of the body of transnational commercial rules called ''Lex Mercatoria''<ref>''Lex Mercatoria'' (from the Latin for "merchant law"), and also often referred to as "the Law Merchant" in English, according to most authors is the body of commercial law which dates back to and was predominantly used by merchants throughout Europe during the medieval period - Sealy and Hooley, ''Commercial Law: Text, Cases, and Materials'', 2008, p. 14</ref>. The discussions and its subjects have become even more controversial over the years. Whereas some authors completely denied ''Lex Mercatoria'' existence, others noted its advantages and key role and importance in many fundamental points and areas.