ABSTRACT
After the 1880s, when transnational development of natural resources increased greatly, agreements for the development of national resources executed before the 1950s were called "concessions". The relationship between concessions and a request for economic consideration was a result of attaching to concessions the concept of royal privileges, as seen in the medieval reception of Ancient Roman law. The regal right of mines was based on the basic principle that land ownership did not include ownership rights in the subterranean minerals there under; its underlying meaning was that these minerals belonged to the monarchy. The application of the domestic law is based on the theory that agreements for the development of natural resources are legally binding relying on the domestic legal order of the host state. The conflict between the theory of international law and the other theories deems the parties of the agreements for the development of natural resources as parties on equal legal footing.
