Abstract
In the 75 years since the Society of Public Teachers of Law came into being there has been a revolution in the conduct of business operations. Methods of transport have been transformed; commercial transactions have increased vastly in size, in number and in complexity; a whole range of new contract structures and financing techniques has evolved; and the receipt, storage and transmission of information and instructions have been completely changed by new technology.If it be right that commercial law is rooted in the customs and practices of merchants we could reasonably expect to find a parallel transformation in English commercial law, a reappraisal of fundamental concepts, a wholesale jettisoning of nineteenth century statutes and case law. It is a matter for some astonishment that this has not occurred.
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