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Vol 21 No 9 Sept/Oct 2016

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Goode on Commercial Law

Edited by: Ewan McKendrick
Price: £170.00

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Rules and Networks: The Legal Culture of Global Business Transactions

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Edited by: Richard Appelbaum, William Felstiner, Volkmar Gessner

ISBN13: 9781841132969
ISBN: 1841132969
Published: December 2001
Publisher: Hart Publishing
Country of Publication: UK
Format: Paperback
Price: Out of print

International business transactions are heavily influenced by culture, practice and rule. The pursuit of business relationships within nation-states can be subject to differences in the generation of norms and the processing of disputes, but these conflicts are magnified many times over in cross-border transactions where nation-state control and support is weak or absent. This book seeks different explanations of the ways in which business people and their legal advisers try to minimize the effect of these magnified difficulties. At the outset we suggested four sources through which the international business community might be considered to have supplemented nation-state conflict prevention and dispute resolution institutions - an international legal order, the development of a private normative order based on common business practices (denominated the lex mercatoria), through the efforts and work product of internationalized law firms, and by means of extensive, thick personal relationships often referred to by their Chinese term guanxi.;Since most explanations are dominated by North American and European legal scholarship and practice, a second concern of this book is to open up the discussion to competing explanatory frameworks. Specifically, it develops the notion that global legal convergence may not be the immediate, inevitable result of increased global economic interaction. Rather, less formal mechanisms for achieving normative understanding and predictability in business dealings may also flourish.

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International Trade
Introduction - the legal culture of global business transactions, Volkmar Gressner et al.
Part 1 The new global environment of business transactions: sovereignty and law in a denationalized world, Michael Zurn; the institutional structuring of business transactions, Richard Whitley.
Part 2 The role of legal rules -state law and unified law: global law in our high speed economy, William E. Scheuerman; traditional private and commercial law rules under the pressure of global transactions - the role for an international order, Dieter Martiny.
Part 3 The role of autonomous rules - the new ""lex mercatoria"" and self-regulation: ""lex mercatoria"" (new law merchant) - globalization and international self-regulation, Filip De Ly; ""lex mercatoria"" - critical comments on a tricky topic, Felix Dasser; global markets, new games, new rules - the challenge of international private governance, Franco Furger.
Part 4 The role of the legal profession - mega-lawyers and in-house counsel: capital markets - those who can and cannot do the purest global law markets, John Flood; the role of global law firms in constructing or obstructing a transitional regime of labour law, Harry Arthurs; oil lawyers and the globalization of the Venezuelan oil industry, Rogelio Perez Perdomo.
Part 5 The role of business networks - relationism and ""guanxi"": social logic as business logic - ""guanxi"", trustworthiness and the emebeddedness of Chinese business practices, Wai-Keung Chung and Gary G. Hamilton; coasean foundations of a unified theory of Western and Chinese contractual practices and economic organizations, Janet Tai Landa; understanding Chinese legal business norms - a comment on Janet Tai Landa's chapter, John K.M. Ohnesorge; a brief note on ""guanxi"", Tai-lok Lui; comment on Ohnesorge and Lui, Janet Tai Landa; settling business disputes with China, Jerome A. Cohen.