Bibliographic Details

The three and a half minute transaction : boilerplate and the limits of contract design / Mitu Gulati and Robert E. Scott.

Author / Creator Gulati, Mitu.
Imprint Chicago : University of Chicago Press, 2013.
Description 1 online resource.
Language English
Series Chicago series in law and society
Chicago series in law and society.
Subject Standardized terms of contract.
Contracts -- Language.
Foreign trade regulation.
LAW -- Contracts.
LAW -- Liability.
Contracts -- Language.
Foreign trade regulation.
Standardized terms of contract.
Electronic books.
Format E-Resource, Book
URL for this record
Other authors / contributors Scott, Robert E., 1944-
ISBN 9780226924397
Physical medium
Digital file characteristics text file
Notes Includes index.
Includes bibliographical references and index.
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.
Other form Print version: Gulati, Mitu. Three and a half minute transaction. Chicago : University of Chicago Press, 2013 9780226924380