The three and a half minute transaction : boilerplate and the limits of contract design / Mitu Gulati and Robert E. Scott.
Gulati, Mitu.; Scott, Robert E., 1944-
2013
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Author Gulati, Mitu.
Title The three and a half minute transaction : boilerplate and the limits of contract design / Mitu Gulati and Robert E. Scott.
Published Chicago : University of Chicago Press, 2013.
Call Number INTERNET
ISBN 9780226924397 (electronic bk.)
0226924394 (electronic bk.)
1283833700
9781283833707
9780226924380
0226924386
Description 1 online resource.
System Control No. (OCoLC)820204629
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, until a novel judicial interpretation 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. Though neither party wanted this outcome, the vast majority of contracts subsequently issue.
Note Includes index.
Bibliography, etc. Note Includes bibliographical references and index.
Digital File Characteristics text file
Source of Description Print version record.
Series Chicago series in law and society.
Available in Other Form Print version: Gulati, Mitu. Three and a half minute transaction. Chicago : University of Chicago Press, 2013 9780226924380 (OCoLC)783150330
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Added Author Scott, Robert E., 1944-
Introduction
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
Epilogue.

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