 Although the charter was revoked by Edward II, due to complaints by English merchants, foreign merchants retained most of their rights in practice, but these would vary widely with the march of time, events and changes to state policy.The "lex mercatoria" was the product of customs and practices among traders, and could be enforced through the local courts.However, the merchants needed to solve their disputes rapidly, sometimes on the hour, with the least costs and by the most efficient means.