Download or read book The Three and a Half Minute Transaction written by Mitu Gulati and published by University of Chicago Press. This book was released on 2013 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Boilerplate language in contracts tends to stick around long after its origins and purpose have been forgotten. Usually there are no serious repercussions, but sometimes it can cause unexpected problems. Such was the case with the obscure pari passu clause in cross-border sovereign debt contracts, when a Belgian court's novel judicial interpretation in Elliott Associates v. Peru rattled international finance by forcing a defaulting sovereign - for one of the first times in the market's centuries-long history - to repay its foreign creditors despite their refusal to enter into a restructuring agreement. Though neither party wanted this outcome, the vast majority of contracts subsequently issued demonstrate virtually no attempt to clarify the imprecise language of the clause. Using this case as a launching pad to explore the broader issue of 'stickiness' of contract boilerplate, Mitu Gulati and Robert E. Scott have sifted through more than one thousand sovereign debt contracts - dating back to the nineteenth century - and interviewed hundreds of practitioners to show that the problem actually lies in the nature of the modern corporate law firm. The financial pressure on large firms to maintain a high volume of transactions contributes to an array of problems that deter innovation and that are largely hidden from the individual lawyer tasked with drafting contracts. With the near certainty of massive sovereign debt structuring in Europe, The Three and a Half Minute Transaction speaks to critical issues facing the industry and has broader implications for contract design that will ensure it remains relevant to our understanding of legal practice long after the debt crisis has subsided"--Unedited summary from book jacket.
Download or read book Introduction written by G. Mitu Gulati and published by . This book was released on 2014 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Hofstra Law Review has organized an “Ideas” symposium around our book manuscript “The Three and a Half Minute Transaction” (see http://ssrn.com/abstract=1937900). The idea for this symposium came from a debate that occurred at a faculty workshop at the Hofstra Law School some months ago where we were presenting our book manuscript. The topics of conversation included the following: the future of the current big-law-firm model, what value lawyers add in commercial transactions that use boilerplate contracts, why (and whether) boilerplate contracts are so slow to change, why law firms do not generally have R&D departments, the resolution of the Eurozone sovereign debt crisis and more. The Essays in this symposium are from an exceptional group of scholars and practitioners and we are honored that they use our manuscript as their jumping off point to tackle some of the topics mentioned. What we provide here is a brief introduction to the manuscript itself.
Download or read book The Three and a Half Minute Transaction written by Andrea J. Boyack and published by . This book was released on 2013 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Three and a Half Minute Transaction: Boilerplate and the Limits of Contractual Design, by Mitu Gulati and Robert E. Scott, is a cautionary tale about modern legal practice where the protagonist is the standard sovereign debt contract. The book discloses an undeniable flaw in sovereign bond boilerplate (the widely used pari passu clause) that, in spite of expensive, sophisticated lawyering, perpetuates a risky disconnect between party intent and contract terms. The fact that boilerplate terms persist even in elite sovereign-lending practices suggests that the problem of over-reliance on standard form language is ubiquitous.When contract terms diverge from client risk management and intent, lawyers have neither provided clients proper representation nor justified their fees.Situated in the context of sovereign debt failures and a profession at the crossroads, the authors' engaging book sounds a well-researched wake-up call to the law. This review explains the context of their study and then builds upon their findings. This review explores two questions suggested but not addressed in The Three and a Half Minute Transaction, namely: What does boilerplate stickiness reveal about the continuing validity of certain contract law doctrines, and what does it suggest for the evolving role of the modern transactional attorney? The conclusion on both accounts is that transactional law practice requires a systemic overhaul, re-focusing lawyerly attention from bulk production of contracts to innovations in contract research and design.
Download or read book Philosophical Foundations of Contract Law written by Gregory Klass and published by OUP Oxford. This book was released on 2014-12-18 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years there has been a revival of interest in the philosophical study of contract law. In 1981 Charles Fried claimed that contract law is based on the philosophy of promise and this has generated what is today known as 'the contract and promise debate'. Cutting to the heart of contemporary discussions, this volume brings together leading philosophers, legal theorists, and contract lawyers to debate the philosophical foundations of this area of law. Divided into two parts, the first explores general themes in the contract theory literature, including the philosophy of promising, the nature of contractual obligation, economic accounts of contract law, and the relationship between contract law and moral values such as personal autonomy and distributive justice. The second part uses these philosophical ideas to make progress in doctrinal debates, relating for example to contract interpretation, unfair terms, good faith, vitiating factors, and remedies. Together, the essays provide a picture of the current state of research in this revitalized area of law, and pave the way for future study and debate.
Download or read book Corporate Governance and Responsible Investment in Private Equity written by Simon Witney and published by Cambridge University Press. This book was released on 2021-01-07 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private equity-backed companies are ubiquitous and economically significant. Consequently, the corporate governance of these companies matters to all of us, and – not surprisingly – is coming under increasing scrutiny. Simon Witney, a practicing private equity lawyer, positions private equity portfolio companies within existing academic theory and examines the laws that apply to them in the UK. He analyses the actual governance frameworks that are put in place and identifies problems created by the legal rules – as well as the market's solutions to them. This book not only explains why these governance mechanisms are established, but also what they are expected to achieve. Witney suggests that private equity owners have both the incentives and the capability to focus on responsible investment practices. Good governance, he argues, is a critical success factor for the private equity industry.
Download or read book Following the Leader written by Raymond C. Kuo and published by Stanford University Press. This book was released on 2021-08-03 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nations have powerful reasons to get their military alliances right. When security pacts go well, they underpin regional and global order; when they fail, they spread wars across continents as states are dragged into conflict. We would, therefore, expect states to carefully tailor their military partnerships to specific conditions. This expectation, Raymond C. Kuo argues, is wrong. Following the Leader argues that most countries ignore their individual security interests in military pacts, instead converging on a single, dominant alliance strategy. The book introduces a new social theory of strategic diffusion and emulation, using case studies and advanced statistical analysis of alliances from 1815 to 2003. In the wake of each major war that shatters the international system, a new hegemon creates a core military partnership to target its greatest enemy. Secondary and peripheral countries rush to emulate this alliance, illustrating their credibility and prestige by mimicking the dominant form. Be it the NATO model that seems so commonsense today, or the realpolitik that reigned in Europe of the late nineteenth century, a lone alliance strategy has defined broad swaths of diplomatic history. It is not states' own security interests driving this phenomenon, Kuo shows, but their jockeying for status in a world periodically remade by great powers.
Download or read book The Oxford Handbook of Law and Economics written by Francesco Parisi and published by Oxford University Press. This book was released on 2017-04-13 with total page 626 pages. Available in PDF, EPUB and Kindle. Book excerpt: Covering over one-hundred topics on issues ranging from Law and Neuroeconomics to European Union Law and Economics to Feminist Theory and Law and Economics, The Oxford Handbook of Law and Economics is the definitive work in the field of law and economics. The book gathers together scholars and experts in law and economics to create the most inclusive and current work on law and economics. Edited by Francisco Parisi, the Handbook looks at the origins of the field of law and economics, tracks its progression and increased importance to both law and economics, and looks to the future of the field and its continued development by examining a cornucopia of fields touched by work in law and economics. The uniqueness of its breadth, depth, and convenience make the volume essential to scholars, students, and contributors in the field of law and economics.
Download or read book Pragmatics and Law written by Francesca Poggi and published by Springer. This book was released on 2016-12-01 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume is the second part of a project which hosts an interdisciplinary discussion about the relationship among law and language, legal practice and ordinary conversation, legal philosophy and the linguistics sciences. An international group of authors, from cognitive science, philosophy of language and philosophy of law question about how legal theory and pragmatics can enrich each other. In particular, the first part is devoted to the analysis of how pragmatics can solve problems related to legal theory: What can pragmatics teach about the concept of law and its relationship with moral, and, in particular, about the eternal dispute between legal positivism and legal naturalism? What can pragmatics teach about the concept of law and/or legal disagreements? The second part is focused on legal adjudication: it aims to construct a pragmatic apparatus appropriate to legal trial and/or to test the tenure of the traditional pragmatics tools in the field. The authors face questions such as: Which interesting pragmatic features emerge from legal adjudication? What pragmatic theories are better suited to account for the practice of judgment or its particular aspects (such as the testimony or the binding force of legal precedents)? Which pragmatic and socio-linguistic problems are highlighted by this practice?
Download or read book Research Handbook on Law and Psychology written by Rebecca Hollander-Blumoff and published by Edward Elgar Publishing. This book was released on 2024-08-06 with total page 509 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Research Handbook presents a kaleidoscopic view of law and psychology as a multidisciplinary field of study and explores major themes at the intersection of these two scholarly traditions. Adopting an expansive approach, it examines important topics including theories of justice, morality, and legitimacy; social norms; system justification theory; and the role of emotion within law.
Download or read book The Doctrine of Odious Debt in International Law written by Jeff King and published by Cambridge University Press. This book was released on 2016-05-26 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to the doctrine of odious debt, loans which are knowingly provided to subjugate or defraud the population of a debtor state are not legally binding against that state under international law. Breaking with widespread scepticism, this groundbreaking book reaffirms the original doctrine through a meticulous and definitive examination of state practice and legal history. It restates the doctrine by introducing a new classification of odious debts and defines 'odiousness' by reference to the current, much more determinate and litigated framework of existing public international law. Acknowledging that much of sovereign debt is now governed by the private law of New York and England, Jeff King explores how 'odious debts' in international law should also be regarded as contrary to public policy in private law. This book is essential reading for practising lawyers, scholars, and development and human rights workers.
Download or read book Contractual Knowledge written by Grégoire Mallard and published by Cambridge University Press. This book was released on 2016-05-26 with total page 431 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contractual Knowledge: One Hundred Years of Legal Experimentation in Global Markets, edited by Grégoire Mallard and Jérôme Sgard, extends the scholarship of law and globalization in two important directions. First, it provides a unique genealogy of global economic governance by explaining the transition from English law to one where global exchanges are primarily governed by international, multilateral, and finally, transnational legal orders. Second, rather than focusing on macro-political organizations, like the League of Nations or the International Monetary Fund, the book examines elements of contracts, including how and by whom they were designed and exactly who (experts, courts, arbitrators, or international organizations) interpreted, upheld, and established the legal validity of these contracts. By exploring such micro-level aspects of market exchanges, this collection unveils the contractual knowledge that led to the globalization of markets over the last century.
Download or read book Scholars of Contract Law written by James Goudkamp and published by Bloomsbury Publishing. This book was released on 2022-12-01 with total page 437 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a counter-balance to the traditional focus on judicial decisions by exploring the contribution of legal scholars to the development of private law. In the book the work of a selection of leading scholars of contract law from across the common law world, ranging from Sir Jeffrey Gilbert (1674–1726) to Professor Brian Coote (1929–2019), is addressed by legal historians and current scholars in the field. The focus is on the nature of the work produced by the scholars in question, important influences on their work, and the impact which that work in turn had on thinking about contract law. The book also includes an introductory chapter and an afterword by Professor William Twining that explore connections between the scholars and recurrent themes. The process of subjecting contract law scholarship to sustained analysis provides new insights into the intellectual development of contract law and reveals the central role played by scholars in that process. And by focusing attention on the work of influential contract scholars, the book serves to emphasise the importance of legal scholarship to the development of the common law more generally.
Download or read book The Indian Legal Profession in the Age of Globalization written by David B. Wilkins and published by Cambridge University Press. This book was released on 2017-05-23 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides the first comprehensive analysis of the impact of globalization on the Indian legal profession. Employing a range of original data from twenty empirical studies, the book details the emergence of a new corporate legal sector in India including large and sophisticated law firms and in-house legal departments, as well as legal process outsourcing companies. As the book's authors document, this new corporate legal sector is reshaping other parts of the Indian legal profession, including legal education, the development of pro bono and corporate social responsibility, the regulation of legal services, and gender, communal, and professional hierarchies with the bar. Taken as a whole, the book will be of interest to academics, lawyers, and policymakers interested in the critical role that a rapidly globalizing legal profession is playing in the legal, political, and economic development of important emerging economies like India, and how these countries are integrating into the institutions of global governance and the overall global market for legal services.
Download or read book The Crucible of Desegregation written by R. Shep Melnick and published by University of Chicago Press. This book was released on 2023-05-10 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In 1954, the Supreme Court delivered the landmark decision of Brown v. Board of Education--establishing the right to attend a desegregated school as a national constitutional right--, but the decision contained fundamental ambiguities. In close to three dozen decisions on school desegregation, the Supreme Court has never offered a clear definition of what desegregation means or laid out a framework for understanding or adjudicating between competing interpretations. In the Crucible of Desegregation, R. Shep Melnick examines the evolution of federal school desegregation policy from 1954 through the termination of desegregation orders in the first decades of the 21st century, combining legal analysis with a focus on institutional relations, particularly the interactions between federal judges and administrators. Melnick argues that years of ambiguous, inconsistent, and meandering Court decisions left lower court judges adrift, forced to apply contradictory Supreme Court precedents in a wide variety of highly charged political and educational contexts. As a result, desegregation policy has been a patchwork, with lower court judges playing a crucial role. They did so against the backdrop of massive resistance, and this combined with the fragmented and decentralized nature of America's political institutions and its education system. The Crucible of Desegregation reveals patterns and persistent impasses that remain relevant today. It also shows that school desegregation was a crucial driver for the expansion of the broader American civil rights state"--
Download or read book Union by Law written by Michael W. McCann and published by University of Chicago Press. This book was released on 2020-04-17 with total page 515 pages. Available in PDF, EPUB and Kindle. Book excerpt: Starting in the early 1900s, many thousands of native Filipinos were conscripted as laborers in American West Coast agricultural fields and Alaska salmon canneries. There, they found themselves confined to exploitative low-wage jobs in racially segregated workplaces as well as subjected to vigilante violence and other forms of ethnic persecution. In time, though, Filipino workers formed political organizations and affiliated with labor unions to represent their interests and to advance their struggles for class, race, and gender-based social justice. Union by Law analyzes the broader social and legal history of Filipino American workers’ rights-based struggles, culminating in the devastating landmark Supreme Court ruling, Wards Cove Packing Co. v. Atonio (1989). Organized chronologically, the book begins with the US invasion of the Philippines and the imposition of colonial rule at the dawn of the twentieth century. The narrative then follows the migration of Filipino workers to the United States, where they mobilized for many decades within and against the injustices of American racial capitalist empire that the Wards Cove majority willfully ignored in rejecting their longstanding claims. This racial innocence in turn rationalized judicial reconstruction of official civil rights law in ways that significantly increased the obstacles for all workers seeking remedies for institutionalized racism and sexism. A reclamation of a long legacy of racial capitalist domination over Filipinos and other low-wage or unpaid migrant workers, Union by Law also tells a story of noble aspirational struggles for human rights over several generations and of the many ways that law was mobilized both to enforce and to challenge race, class, and gender hierarchy at work.
Download or read book Speaking for the Dying written by Susan P. Shapiro and published by University of Chicago Press. This book was released on 2019-06-12 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seven in ten Americans over the age of age of sixty who require medical decisions in the final days of their life lack the capacity to make them. For many of us, our biggest, life-and-death decisions—literally—will therefore be made by someone else. They will decide whether we live or die; between long life and quality of life; whether we receive heroic interventions in our final hours; and whether we die in a hospital or at home. They will determine whether our wishes are honored and choose between fidelity to our interests and what is best for themselves or others. Yet despite their critical role, we know remarkably little about how our loved ones decide for us. Speaking for the Dying tells their story, drawing on daily observations over more than two years in two intensive care units in a diverse urban hospital. From bedsides, hallways, and conference rooms, you will hear, in their own words, how physicians really talk to families and how they respond. You will see how decision makers are selected, the interventions they weigh in on, the information they seek and evaluate, the values and memories they draw on, the criteria they weigh, the outcomes they choose, the conflicts they become embroiled in, and the challenges they face. Observations also provide insight into why some decision makers authorize one aggressive intervention after the next while others do not—even on behalf of patients with similar problems and prospects. And they expose the limited role of advance directives in structuring the process decision makers follow or the outcomes that result. Research has consistently found that choosing life or death for another is one of the most difficult decisions anyone can face, sometimes haunting families for decades. This book shines a bright light on a role few of us will escape and offers steps that patients and loved ones, health care providers, lawyers, and policymakers could undertake before it is too late.
Download or read book Cooperation without Submission written by Justin B. Richland and published by University of Chicago Press. This book was released on 2021-09-06 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: A meticulous and thought-provoking look at how Tribes use language to engage in "cooperation without submission." It is well-known that there is a complicated relationship between Native American Tribes and the US government. Relations between Tribes and the federal government are dominated by the principle that the government is supposed to engage in meaningful consultations with the tribes about issues that affect them. In Cooperation without Submission, Justin B. Richland, an associate justice of the Hopi Appellate Court and ethnographer, closely examines the language employed by both Tribes and government agencies in over eighty hours of meetings between the two. Richland shows how Tribes conduct these meetings using language that demonstrates their commitment to nation-to-nation interdependency, while federal agents appear to approach these consultations with the assumption that federal law is supreme and ultimately authoritative. In other words, Native American Tribes see themselves as nations with some degree of independence, entitled to recognition of their sovereignty over Tribal lands, while the federal government acts to limit that authority. In this vital book, Richland sheds light on the ways the Tribes use their language to engage in “cooperation without submission.”
