The Three and a Half Minute Transaction is popular PDF and ePub book, written by Mitu Gulati in 2013, it is a fantastic choice for those who relish reading online the Law genre. Let's immerse ourselves in this engaging Law book by exploring the summary and details provided below. Remember, The Three and a Half Minute Transaction can be Read Online from any device for your convenience.
The Three and a Half Minute Transaction Book PDF Summary
"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.
Detail Book of The Three and a Half Minute Transaction PDF
- Author : Mitu Gulati
- Release : 01 October 2024
- Publisher : University of Chicago Press
- ISBN : 9780226924380
- Genre : Law
- Total Page : 243 pages
- Language : English
- PDF File Size : 17,6 Mb
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