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Author: Mitu Gulati
Publisher: University of Chicago Press
ISBN: 0226924386
Category : Law
Languages : en
Pages : 243
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Book Description
"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.
Author: Mitu Gulati
Publisher: University of Chicago Press
ISBN: 0226924386
Category : Law
Languages : en
Pages : 243
Get Book Here
Book Description
"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.
Author: Jeff King
Publisher: Cambridge University Press
ISBN: 1316565254
Category : Law
Languages : en
Pages : 249
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Book Description
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.
Author: Justin B. Richland
Publisher: University of Chicago Press
ISBN: 022660862X
Category : Law
Languages : en
Pages : 245
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Book Description
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.”
Author: Bettina Lange
Publisher: Bloomsbury Publishing
ISBN: 1782255443
Category : Law
Languages : en
Pages : 274
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Book Description
The issue of whether transnational risk can be regulated through a social sphere goes to the heart of what John Ruggie has described as 'embedded liberalism': how capitalist countries have reconciled markets with the social community that markets require to survive and thrive. This collection, located in the wider debates about global capitalism and its regulation, tackles the challenge of finding a way forward for regulation. It rejects the old divisions of state and market, citizens and consumers, social movements and transnational corporations, as well as 'economic' and 'social' regulation. Instead this rich, multidisciplinary collection engages with a critical theme-the idea of harnessing the regulatory capacity of a social sphere by recognising the embeddedness of economic transactions within a social and political landscape. This collection therefore explores how social norms, practices, actors and institutions frame economic transactions, and thereby regulate risks generated by and for business, state and citizens. A key strength of this book is its integration of three distinct areas of scholarship: Karl Polanyi's economic sociology, regulation studies and socio-legal studies of transnational hazards. The collection is distinct in that it links the study of specific transnational risk regulatory regimes back to a social–theoretical discussion about economy–society interactions, informed by Polanyi's work. Each of the chapters addresses the way in which economics, as well as economic and social regulation, can never be understood separately from the social, particularly in the transnational context. Endorsement 'This thought-provoking collection asks the most critical question of our time – how to civilise markets through social accountability and political action. The climate and financial crises we face show how crucial this challenge is. Lange, Haines and Thomas have put together a series of fruitful case studies of the possibilities for embedding economic relationships in social relationships by a series of top-class researchers within their own illuminating and sensitive framing of the issue'. Professor Christine Parker, Professor of Regulatory Studies at Monash University.
Author: Sally Engle Merry
Publisher: University of Chicago Press
ISBN: 022626131X
Category : Social Science
Languages : en
Pages : 260
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Book Description
We live in a world where seemingly everything can be measured. We rely on indicators to translate social phenomena into simple, quantified terms, which in turn can be used to guide individuals, organizations, and governments in establishing policy. Yet counting things requires finding a way to make them comparable. And in the process of translating the confusion of social life into neat categories, we inevitably strip it of context and meaning—and risk hiding or distorting as much as we reveal. With The Seductions of Quantification, leading legal anthropologist Sally Engle Merry investigates the techniques by which information is gathered and analyzed in the production of global indicators on human rights, gender violence, and sex trafficking. Although such numbers convey an aura of objective truth and scientific validity, Merry argues persuasively that measurement systems constitute a form of power by incorporating theories about social change in their design but rarely explicitly acknowledging them. For instance, the US State Department’s Trafficking in Persons Report, which ranks countries in terms of their compliance with antitrafficking activities, assumes that prosecuting traffickers as criminals is an effective corrective strategy—overlooking cultures where women and children are frequently sold by their own families. As Merry shows, indicators are indeed seductive in their promise of providing concrete knowledge about how the world works, but they are implemented most successfully when paired with context-rich qualitative accounts grounded in local knowledge.
Author: Robert L. Nelson
Publisher: University of Chicago Press
ISBN: 0226828921
Category : Discrimination in employment
Languages : en
Pages : 429
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Book Description
"How do hierarchies of race, class, gender, and law school status condition the career trajectories of lawyers? And how do individual lawyers strategically navigate the constraints and opportunities of their environments? Where do they find professional satisfaction? This book offers an unprecedented account of opportunity structures and social stratification within the early 21st century American legal profession, combining unique longitudinal survey data with interviews, storytelling, and insights from social theory. Starting in 2000, the authors collected over 10,000 survey responses from more than 5,000 lawyers, following these lawyers through the first twenty years of their careers. They also conducted in-depth interviews with more than 200 lawyers. They contextualize their findings through attention to the features of a market-driven legal profession, in particular the growth in recent decades of the private sector relative to the public sector and corresponding disparities in earnings and status between these different segments. The analysis in this book reveals a legal profession that is highly stratified. Although individual lawyers exercise agency and often find satisfaction in their work, there are deep divisions within the profession by client type and practice setting, and women and attorneys of color face discrimination and persistent barriers to advancement. The careers of lawyers both reflect and reproduce inequalities in law and society writ large"--
Author: Anthony Grasso
Publisher: University of Chicago Press
ISBN: 0226835588
Category : Political Science
Languages : en
Pages : 358
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Book Description
A far-reaching examination of how America came to treat street and corporate crime so differently. While America incarcerates its most marginalized citizens at an unparalleled rate, the nation has never developed the capacity to consistently prosecute corporate wrongdoing. Dual Justice unearths the intertwined histories of these two phenomena and reveals that they constitute more than just modern hypocrisy. By examining the carceral and regulatory states’ evolutions from 1870 through today, Anthony Grasso shows that America’s divergent approaches to street and corporate crime share common, self-reinforcing origins. During the Progressive Era, scholars and lawmakers championed naturalized theories of human difference to justify instituting punitive measures for poor offenders and regulatory controls for corporate lawbreakers. These ideas laid the foundation for dual justice systems: criminal justice institutions harshly governing street crime and regulatory institutions governing corporate misconduct. Since then, criminal justice and regulatory institutions have developed in tandem to reinforce politically constructed understandings about who counts as a criminal. Grasso analyzes the intellectual history, policy debates, and state and federal institutional reforms that consolidated these ideas, along with their racial and class biases, into America’s legal system.
Author: Christopher W. Schmidt
Publisher: University of Chicago Press
ISBN: 022652258X
Category : Law
Languages : en
Pages : 273
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Book Description
On February 1, 1960, four African American college students entered the Woolworth department store in Greensboro, North Carolina, and sat down at the lunch counter. This lunch counter, like most in the American South, refused to serve black customers. The four students remained in their seats until the store closed. In the following days, they returned, joined by growing numbers of fellow students. These “sit-in” demonstrations soon spread to other southern cities, drawing in thousands of students and coalescing into a protest movement that would transform the struggle for racial equality. The Sit-Ins tells the story of the student lunch counter protests and the national debate they sparked over the meaning of the constitutional right of all Americans to equal protection of the law. Christopher W. Schmidt describes how behind the now-iconic scenes of African American college students sitting in quiet defiance at “whites only” lunch counters lies a series of underappreciated legal dilemmas—about the meaning of the Constitution, the capacity of legal institutions to remedy different forms of injustice, and the relationship between legal reform and social change. The students’ actions initiated a national conversation over whether the Constitution’s equal protection clause extended to the activities of private businesses that served the general public. The courts, the traditional focal point for accounts of constitutional disputes, played an important but ultimately secondary role in this story. The great victory of the sit-in movement came not in the Supreme Court, but in Congress, with the passage of the Civil Rights Act of 1964, landmark legislation that recognized the right African American students had claimed for themselves four years earlier. The Sit-Ins invites a broader understanding of how Americans contest and construct the meaning of their Constitution.
Author: Marco Lamandini
Publisher: Oxford University Press
ISBN: 0192898698
Category : Law
Languages : en
Pages : 593
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Book Description
Finance, Law, and the Courts offers a comprehensive legal treatment of finance's regulatory sources and complex problems. Drawing from European and US case law, the book demonstrates that law and the courts provide finance with the certainty it needs to operate and the elasticity it needs to evolve.
Author: Eyal Zamir
Publisher: Oxford University Press, USA
ISBN: 0199972052
Category : Business & Economics
Languages : en
Pages : 278
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Book Description
Prospect theory posits that people do not perceive outcomes as final states of wealth or welfare, but rather as gains or losses in relation to some reference point. People are generally loss averse: the disutility generated by a loss is greater than the utility produced by a commensurate gain. Loss aversion is related to such phenomena as the status quo and omission biases, the endowment effect, and escalation of commitment. The book systematically analyzes the relationships between loss aversion and the law.
