Abstract

KOZOLCHYK, Boris. Modernization of Commercial Law: International Uniformity and Economic Development. Bol. Mex. Der. Comp. [online]. 2009, vol.42, n.125, pp.795-853. ISSN 2448-4873.

Those commercial legal institutions that are being used uniformly through out the trading world earn their universality by incorporating the best commercial practices. This article examines why the law of secured lending based on personal property collateral, a key contemporary commercial legal institution and tool for the economic development of countries such as Canada and the United States, among other nations, is likely to succeed in Guatemala and Honduras. It will also show why it willnot succeed in Mexico and Peru, unless it is redrafted and their underlying attitudes and practices are changed.

Keywords : modernization of commercial law; best practices; the law of secured lending; economic development.

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