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The three and a half minute transaction : boilerplate and the limits of contract design

Author: Mitu Gulati; Robert E Scott
Publisher: Chicago : University of Chicago Press, ©2013.
Series: Chicago series in law and society.
Edition/Format:   Print book : EnglishView all editions and formats
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  Read more...
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Document Type: Book
All Authors / Contributors: Mitu Gulati; Robert E Scott
ISBN: 9780226924380 0226924386 9780226924397 0226924394
OCLC Number: 783150330
Description: viii, 232 pages : illustrations ; 24 cm.
Contents: A story of sticky boilerplate begins in Brussels --
The sovereign bond contract --
Theories explaining the stickiness of contract boilerplate --
The importance of Elliott : the official story --
Market responses --
The faithful lawyer --
The imperfect agent --
Rituals and myths --
The hunt for Pari Passu --
The agency costs of big law.
Series Title: Chicago series in law and society.
Other Titles: 3 and a 1/2 minute transaction
3.5 minute transaction
3 1/2 minute transaction
Responsibility: Mitu Gulati and Robert E. Scott.

Abstract:

With the near certainty of massive sovereign debt restructuring in Europe, this book speaks to critical issues facing the industry and has broader implications for contract design that may ensure it  Read more...

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"Mitu Gulati and Robert E. Scott have assembled extraordinarily tantalizing evidence that even the most sophisticated contracting parties use contractual provisions that neither side understands, and Read more...

 
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