Rules and Networks: The Legal Culture of Global Business Transactions

Overview

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 ...
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Overview

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, four sources are suggested 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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Editorial Reviews

Booknews
Law, sociology, economics, business, and political science are among the disciplines represented in the research conducted by the Center for European Legal Policy at the universities of Bremen, Germany, and California-Santa Barbara. They cover the new global environment of business transactions, of legal rules in state law and unified law, autonomous rules and self-regulation, mega-lawyers and in-house counsel, and business networks in China. Early versions of the 16 studies were presented in Onati, Spain in June 1999. Distributed in the US by ISBS. Annotation c. Book News, Inc., Portland, OR (booknews.com)
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Product Details

Table of Contents

List of Contributors
Introduction: The Legal Culture of Global Business Transactions 1
Pt. 1 The New Global Environment of Business Transactions
1 Sovereignty and Law in a Denationalised World 39
2 The Institutional Structuring of Business Transactions 73
Pt. 2 The Role of Legal Rules: State Law and Unified Law
3 Global Law in Our High Speed Economy 103
4 Traditional Private and Commercial Law Rules under the Pressure of Global Transactions: The Role for an International Order 123
Pt. 3 The Role of Autonomous Rules: The New Lex Mercatoria and Self-Regulation
5 Lex Mercatoria (New Law Merchant): Globalisation and International Self-Regulation 159
6 Lex Mercatoria - Critical Comments on a Tricky Topic 189
7 Global Markets, New Games, New Rules: The Challenge of International Private Governance 201
Pt. 4 The Role of the Legal Profession: Mega-Lawyers and In-House Counsel
8 Capital Markets: Those Who Can and Cannot Do the Purest Global Law Markets 249
9 The Role of Global Law Firms in Constructing or Obstructing a Transitional Regime of Labour Law 273
10 Oil Lawyers and the Globalisation of the Venezuelan Oil Industry 301
Pt. 5 The Role of Business Networks: Relationism and Guanxi
11 Social Logic as Business Logic: Guanxi, Trustworthiness, and the Embeddedness of Chinese Business Practices 325
12 Coasean Foundations of a Unified Theory of Western and Chinese Contractual Practices and Economic Organisations 347
13 Understanding Chinese Legal and Business Norms: A Comment on Janet Tai Landa's Chapter 363
14 A Brief Note on Guanxi 385
15 Comment on Ohnesorge and Lui 399
16 Settling Business Disputes with China 403
Index 421
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